SBA: PPP saved 51M jobs
The Small Business Administration has released new Paycheck Protection Program data. FOX Business’ Edward Lawrence with more.
As the government released details about the many Paycheck Protection Program loan recipients Monday, some companies with high-powered ties were found to have received funding.
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EDI Associates, a firm that is linked to House Speaker Nancy Pelosi’s husband, Paul Pelosi, received a loan valued at a dollar amount between $350,000 and $1 million, the data showed.
A spokesperson for the speaker told Fox News her husband is an investor and did not apply for the loan, “nor was he aware of it.”
SBA: PPP SAVED 51M JOBS
The firm was listed on a congressional disclosure as a partnership investment in the El Dorado Hotel. The asset was valued between $250,000 and $500,000, while income was listed between $50,001 and $100,000.
The news was first reported by The Washington Post, which also noted that Republican Reps. Roger Williams and Vicky Hartzler and Democrat Reps. Susie Lee and Debbie Mucarsel-Powell also had links to borrowers.
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Meanwhile, the Daily Beast noted that companies with ties to the Kushner family – Jared Kushner serves as an adviser to the president – also received loans through the program. The businesses included the family’s media company and two hotels, the publication said.
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The Treasury Department and the Small Business Administration released a list of PPP loan recipients Monday morning.
About 4.9 million loans have been made through the program, and disclosures were made to enhance transparency.
The government said the program helped support more than 51 million jobs so far.
Small businesses will be able to apply for relief through Aug. 8 via an extension of the program.
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