Dallas hotel executive Monty Bennett, who is also a major donor to President Donald Trump has emerged as the biggest victor from the coronavirus bailout for small businesses. You see the loan report here and the advances here. "The next round of funds must be focused on small businesses, with better oversight and transparency".
The data leak does not affect small businesses participating in the Paycheck Protection Program (PPP), which is expected to receive an additional $310 billion of funding after running through the initially allotted $349 billion in just two weeks.
The PPP offers loans of as much as $10 million that convert to grants if proceeds are used to keep workers on the payroll and cover rent and other approved expenses for about two months, a stopgap created to help businesses get by until the economy reopens.
The U.S. Small Business Administration, which has been administering the program, said last week that 4,400 of the approved loans exceeded $5 million, although the typical loan was $206,000.
The new "interim emergency bill", as lawmakers are calling it, provides $60 billion for the Economic Injury Disaster Loan (EIDL) program, $75 billion for hospitals and another $25 billion for testing.
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The planned tests were announced by UK's secretary for Health, Matt Hancock , who however cautioned that "nothing about this process is certain".
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But with a slight majority of lawmakers endorsing him, Gantz was given the first shot at building a coalition government. Shortly after the deal was announced, Mr Gantz wrote on Twitter: "We prevented fourth elections".
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He also said the company was not in the process of conversation with Remdesivir maker Gilead Sciences on the issue. It's also testing the drug in 1,600 patients with moderate symptoms at 169 hospitals and clinics around the world.
An SBA official refused to provide a timeline for the new funds to be released, but noted that the foundation of the program is already up and running, apparently meaning that a change would happen fairly seamlessly.
"I'm so proud of the work done by our team, working around the clock, to support over 2,100 small businesses and their 50,000 dedicated employees", Rory Ritrievi, Mid Penn Bank president and CEO, said.
Some 7,913 businesses were notified that their information might have been exposed to other applicants within the SBA portal, according to Business Insider. He also announced that the Senate Committee on Small Business and Entrepreneurship that he leads will conduct "aggressive oversight" of the program this fall, including subpoena power to determine whether companies made false certifications to obtain loans.