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More than half of emergency small-business funds went to larger businesses, new data shows


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And once again middle class Americans get fucked up the ass by the Republicans. Note the SBA refusal to release their records.....yes public transparency was with held. WP had to file a federal lawsuit to get the info. FUCK TRUMP AND EVERYONE IN HIS CIRCLE JERK.

More than half of emergency small-business funds went to larger businesses, new data shows

Source: Washington Post 

More than half of emergency small-business funds went to larger businesses, new data shows 

The Trump administration has emphasized PPP loans to small firms, but data released Tuesday shows that most of the $522 billion went to about 600 larger companies and chains 

By Jonathan O'Connell, Andrew Van Dam, Aaron Gregg and Alyssa Fowers 
12/1/2020, 11:05:46 p.m. 

More than half of the money from the Treasury Department’s coronavirus emergency fund for small businesses went to just 5 percent of the recipients, according to data on more than 5 million loans that was released by the government Tuesday evening in response to a Freedom of Information Act request and lawsuit. 

According to data on the government’s Paycheck Protection Program (PPP), about 600 mostly larger companies, including dozens of national chains, received the maximum amount allowed under the program of $10 million. 

Officials from the Treasury Department and the Small Business Administration (SBA) have argued that the program primarily benefited smaller businesses because a vast majority of the loans ― more than 87 percent ― were for less than $150,000, as of August. But the new data shows that more than half of the $522 billion in the same time frame went to bigger businesses, and only 28 percent of the money was distributed in amounts less than $150,000. 

The newly released data comes after a federal lawsuit filed by The Washington Post and 10 other news organizations under the Freedom of Information Act challenging the SBA’s refusal to release records on borrowers and loan amounts. A federal judge ordered the release of the data by Tuesday and the agency did not appeal. 


Read more: https://www.washingtonpost.com/business/2020/12/01/ppp-sba-data/
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10 minutes ago, spin_dry said:

This was by design. By this administration. Trump looks down on small business owners. They’re beneath him. 

yet trump really is just a small business owner on a bigger scale.  It's why he has no real skills that one learns working in a corporate environment.     

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31 minutes ago, Angry ginger said:

yet trump really is just a small business owner on a bigger scale.  It's why he has no real skills that one learns working in a corporate environment.     

Good point. It’s proof that a person can have some business success, yet still display extremely poor leadership skills. I see nothing in trump that remotely resembles leadership. Empathy, clear direct communication, warmth, intelligence....it’s all lacking. He’s one broken mother fucker. 

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17 minutes ago, Mainecat said:

Name something Trump is successful at besides getting morons to send him money.

he was pretty successful of putting shillery out to pasture in '16 which has been why you have been starting multiple anti trump threads daily for 4 years....just sayin':news:

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7 hours ago, spin_dry said:

This was by design. By this administration. Trump looks down on small business owners. They’re beneath him. 

Bull shit where do you get this crap ?  His life has been a completely non corporate business .

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7 minutes ago, ford_428cj said:

Ppp money went to all the rich business owners who pocketed it. A slap right in the face to the taxpayer...

But they all got their 1200 dollar baller check. 

Hey, let's have another stimulus only this time we will do something different with the money.  Any one who continues to believe this is a moron.

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