In a statement, Ashford said it “relied on the statute as passed by Congress and the guidance provided by the SBA to apply for PPP loans in good faith.”
“Since we submitted our loan applications, the rules have changed almost daily,” the statement added.last week, Ashford Group said it had laid off or furloughed more than 90 percent of its workforce of 14,000 in recent weeks as the travel business has evaporated.Ashford Group is chaired by Monty Bennett, a Dallas executive and Republican donor. The group’s companies received the PPP loans from banks including KeyBank, Centennial Bank and Comerica Inc.
After the initial $349 billion for the program was quickly depleted, leaving many applicants empty-handed, Congress allocatedMore than $175 billion of the new funds had been pledged to 2.2 million borrowers as of Sunday, Mnuchin and Small Business Administration chief Jovita Carranza said in a statement.
About 54 percent of the round-two money pledged so far is being doled out in loans of $350,000 or less, the Sunday. Another 19 percent is for loans between $350,000 and $1 million. Loans between $1 million and $5 million amount to 21 percent of the pot, with loans over $5 million accounting for 6 percent of the funds.
As he should.
Mmmm public scrutiny Wasn’t it Joe Biden who called them out?
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