BREAK: Steve Mnuchin's exclusive LA country club scored a PPP loan worth at least $2 million.

[EleanorR]

Link to tweet

[Hoyt]

1. If they keep employees on as required, I'm OK with it. They ought to shutdown by Health Dept, though

or as a public menace.

[EleanorR]

3. We'll may never know since trump fired the IG

As part of its $660 billion small-business relief program, the SBA also handed out loans to private schools catering to elite clientele, firms owned by foreign companies and large chains backed by well-heeled Wall Street firms. Nearly 90,000 companies in the program took the aid without promising on their applications they would rehire workers or create jobs.

Questions remain however about how the program has affected jobs. The program’s rules require that borrowers show their lenders how many jobs they have retained to have their loans forgiven.

Among the loan recipients, 48,922 reported zero as the number of jobs they would retain with the money, and 40,506 applicants appeared to leave that section blank. It appeared that 10 other companies received between $5 million and $10 million but reported retaining only one job with the money they received.

https://www.washingtonpost.com/business/2020/07/06/sba-ppp-loans-data/

[Hoyt]

4. They will be audited. Also, a lot of organizations Democrats favor got loans

and grants.

Companies who don’t keep on employees, can’t legally convert the loans to outright grants.

[2naSalit]

2. Imagine that.

[leftyladyfrommo]

5. Those air conditioned golf carts are expensive. nt