WASHINGTON—Some government contractors took out loans from the Paycheck Protection Program even as they were paid for government work during the pandemic, a Wall Street Journal analysis shows.
The forgivable loans were a lifeline for thousands of hard-hit businesses whose revenue evaporated this spring. Many contractors also judged themselves eligible even though they were working on active government projects, according to an analysis of recently released data on PPP borrowers and other records.Black small-business owners have faced hurdles accessing the Paycheck Protection Program.
Source: News Formal (newsformal.com)
it's an irony but at least their bank listened
Reminds us of the $350 million Pelosi snuck into the Jobs Stimulus legislation that went to Kennedy Ctr (who immediately fired everyone!)
Pathetic and expected.
How dare businesses participate in a government loan program during a time of economic uncertainty and not break any laws.
Those MFN SOBs!!!
It's amazing. We have all of this smart tech to assess and hunt the poor for fraud, waste and abuse but none of it was used to ensure that these loans for higher-income folks were distributed appropriately? Where is the AI? Where are the algorithms? Did they all fail
Yes, they should, they are the only ones showing up to work! You think these companies didn’t lose money due to increase material costs or workers efforts
How dare those hard working and labor heavy companies!!!
Truly pathetic how the greedy piss on everyone else. Why is most of the deceit in the country and all the corruption tied to the government. All of the regular working class take it up the a$
JCOviedo6 bet you could make a good living just clawing back much of the funds wasted here
It wasn’t against the rules.
I insure alot of contractors. I can attest, they all got PPP, in some cases, millions of dollars. Almost all of them are having the best year of their careers.
Name them & go after them!!
Man, hindsight is 20/20. In march we didnt know if capital markets would be open so everyone panicked and got capital anyway they could. They will have to pay it back with interest if it wasnt used for payroll.
Liars & crooks like Rumpt.
WritesMore Thieves
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