FILE PHOTO: The Federal Reserve building is set against a blue sky, amid the coronavirus disease outbreak, in Washington, U.S., May 1, 2020. REUTERS/Kevin Lamarque - RC2VFG9GXZIM/File Photo
The lenders used 3,676 PPP loans they had issued to small businesses as collateral for money from the central bank’s PPP program, clearing room on their own balance sheet for further lending. The Fed said it had collected $2.5 million in interest and fees for the transactions so far. The PPP is one of the core programs set up by the federal government to keep the economy stable during the coronavirus pandemic. It offers loans to small businesses which are forgiven if they are used to pay workers’ wages and some other allowed expenses.
Source: Loan News Today (loannewstoday.net)
federalreserve SHOW US THE RECORDS LISTING ALL THE RECIPIENTS
Banks?
and none are related to politicians or tainted with conflicts of interets :)
The Fed says a lot of things... Do you have change for a quadrillion?
Of course. It's not actually for small businesses. It's for Trump supporters.
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