loans

A Miami man is accused of spending part of his Paycheck Protection Program loan on a 2020 Lamborghini Huracan, according to reports.The Department of Justice accused David T. Hines, 29, of seeking $13.5 million in loans by writing fraudulent loan applications under the guise of several companies, Fox 9 reported. Authorities said he dropped $318,000 on the…

Policymakers should consider blanket forgiveness for all smaller businesses who received loans from the Paycheck Protection Program, Treasury Secretary Steven Mnuchin said Friday.Mnuchin told lawmakers that they should consider such an approach to reduce complexity, coupled with some form of fraud protection.Let our news meet your inbox. The news and stories that matters, delivered weekday…

Billionaire property developer Joe Farrell, a prominent Republican fundraiser, received up to $1 million in taxpayer coronavirus relief funds, according to federal data released Monday.Other players in the world of celebrity and influence who took advantage of loans under the Paycheck Protection Program, or PPP, to help struggling small businesses hurt by coronavirus shutdowns included…

The Small Business Administration on Monday released a list of some of the businesses approved for federal payroll protection loans, and a lot of prominent Chicago-area companies received funds to help them through the coronavirus pandemic. From museums and restaurants to law firms and supermarkets, nearly 4,000 Illinois businesses and nonprofits were approved for PPP…