Tag: paycheck protection program

Minority Entrepreneurs Struggled to Get Small-Business Relief Loans

Of the 1,300 Paycheck Protection Program loans that Southern Bancorp made last year, many went to customers who had been turned away by larger banks, Mr. Williams said. In a recent Federal Reserve survey, nearly 80 percent of small-business owners who are Black or of Asian descent said their companies were in weak financial shape, […]

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Houston Woman Accused of Spending $3.6 Million in COVID-19 Relief Money on Luxury Homes, Cars and Other Items

Photo: Vitalii Vodolazskyi (Shutterstock) People will never disappoint you as long as you expect people to be disappointing. Yes, that’s a cynical way to start a news story, but what else is there to say about a Texas woman who allegedly received millions of dollars meant to protect small business owners from the economically devastating […]

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Fraud Checks and Errors Slow Small-Business Relief Loans

That caused — or exposed — a cascade of problems. Formatting applications in ways that will pass the agency’s automated vetting has been a challenge for some lenders, and many have had to revise their technology systems almost daily to keep up with adjustments to the agency’s system. False red flags, which can require time-consuming […]

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The Scam That Was the Paycheck Protection Program Paid Out Millions to Hate Groups

Photo: Kim Kelley-Wagner (Shutterstock) While Congress continues to dither over distributing another stimulus check to members of the American public during a pandemic that has stuttered the economy and left many unemployed and unable to meet the cost of their basic needs, it’s become increasingly clear that the Paycheck Protection Program—ostensibly meant to support workers […]

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Pennsylvania Dealer Group Accused of PPP Fraud, Extorting Cash from Staff

<img data-attachment-id="1718088" data-permalink="https://www.thetruthaboutcars.com/2020/04/auto-sales-officially-considered-essential-service-by-u-s-government/shutterstock_1113141800-2/" data-orig-file="https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800.jpg" data-orig-size="1000,667" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"1"}" data-image-title="u.s. car dealership pre-owned cars" data-image-description=" LM Photos/Shutterstock ” data-medium-file=”https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-450×300.jpg” data-large-file=”https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-610×407.jpg” class=”aligncenter size-large wp-image-1718088″ src=”https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-610×407.jpg” alt width=”610″ height=”407″ srcset=”https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-610×407.jpg 610w, https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-75×50.jpg 75w, https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-450×300.jpg 450w, https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-768×512.jpg 768w, https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800-120×80.jpg 120w, https://www.thetruthaboutcars.com/wp-content/uploads/2020/04/shutterstock_1113141800.jpg 1000w” sizes=”(max-width: 610px) 100vw, 610px”> When the United States announced it would be offering payroll relief to the countless […]

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Magic Johnson Secures $325M To Support Minority-Owned Businesses

Amid the COVID-19 pandemic, NBA legend Earvin “Magic” Johnson has put the focus on supporting Black-owned businesses that have been significantly impacted by the public health crisis. According to Black Enterprise, Johnson teamed up with Carver Federal Savings Bank and MBE Partners for the creation of a Paycheck Protection Program (PPP) designed for minority and […]

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Spotting $62 Million in Alleged P.P.P. Fraud Was the Easy Part

The criminal complaints read like catalogs of luxury bling: a diamond-laden $52,000 Rolex, a gambling spree at the Bellagio, two Lamborghinis, a pair of Cadillac Escalades, a Rolls-Royce. All that and more, law enforcement officials said, was financed through schemes to defraud the federal government’s signature coronavirus relief program for small businesses. The Justice Department […]

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26 Boy Scout Councils Facing Sex Abuse Lawsuits Received as Much as $20.9 Million in Coronavirus Loans

Want the best of VICE News straight to your inbox? Sign up here. As the Boy Scouts of America face a nationwide reckoning over accusations that it failed to keep children safe from sexual abuse, at least 26 local Boy Scout councils named in current sex abuse lawsuits have received loans from the Trump administration’s […]

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Coronavirus Surge Is Killing America’s Small Businesses

On the last Friday of June, after Gov. Greg Abbott of Texas said that bars across the state would have to shut down a second time because coronavirus cases were skyrocketing, Mick Larkin decided he had had enough. No matter that Mr. Larkin, an owner of a karaoke club in Wichita Falls, Texas, had just […]

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