The loan recipients vary from Encore Area Options, an East Dundee garage remodeler which obtained a $149,999 loan in April, to a dozen recipients who obtained $a hundred or much less, in keeping with the SBA data. There have been 36 companies in Illinois that acquired the maximum $10 million, together with the publicly traded Chicago-based restaurant chain Potbelly, which returned its first $10 million loan in April beneath public strain, but then reapplied in August as demand and scrutiny waned.
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The SBA beforehand launched the names of greater than 650,000 companies nationwide that obtained PPP loans between $150,000 and $10 million — the utmost allowed beneath this system — but didn’t disclose the precise mortgage quantities for bigger borrowers or the identities of those who acquired smaller amounts. People who don’t have time to attend full-time lessons have … Read More
Nearly four,000 companies in Illinois received loans of $1 million or extra, adding up to about $8.67 billion, or about 37% of the entire. Meaning about 7% of PPP loans have been forgiven. The Justice Department has charged 88 folks for alleged PPP loan fraud totaling extra $250 million nationwide, including a number of circumstances with Chicago connections.
In October, the SBA launched a simpler forgiveness application for loans of $50,000 or much less, which encompasses about seventy one% of Illinois borrowers, SBA spokeswoman Andrea Roebker said. As an illustration, in Seattle, KOMO Information’ “Downside Solvers” invites viewers to submit their drawback with a neighborhood enterprise, and generally the station will investigate and provoke a decision.
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The mortgage recipients vary from Encore Space Options, an East Dundee storage remodeler which obtained a $149,999 mortgage in April, to a dozen recipients who obtained $a hundred or less, in line with the SBA information. There have been 36 businesses in Illinois that received the maximum $10 million, including the publicly traded Chicago-based mostly restaurant chain Potbelly, which returned its first $10 million mortgage in April underneath public pressure, but then reapplied in August as demand and scrutiny waned.