Tag: PPP.

Georgia U.S. House Hopeful Jones Blasts Collins’ ‘Troubling’ $465K Loan to Own Campaign After Feds Forgave His Nearly $1 Million PPP Loan

Neil W. McCabe

The former Democratic Georgia state representative now running as the Trump-endorsed U.S. House hopeful in the GOP primary for his state’s 10th Congressional District told The Georgia Star and The Star News Network his opponent trucking businessman Mike Collins’ $465,000 loan to his campaign after the government forgave his $920,000 loan from the government’s Payroll Protection Program troubled him.

“Yeah, I want to be clear, the purpose of PPP loans was to save struggling self-employed, small businesses, mid-size businesses,” said Vernon Jones, who dropped his primary challenge to Gov. Brian P. Kemp at the request of President Donald J. Trump to clear the field for former senator David A. Perdue Jr.

Read More

Fraudsters Used Paycheck Protection Program Loans for Bentleys, Diamonds, Luxury Homes: Watchdog

Georgia Star News Staff
woman on laptop with eye glasses and mug next to her

This week’s Golden Horseshoe goes to the Small Business Administration for millions in Paycheck Protection Program loans it issued to fraudsters who used the money to purchase luxury homes, high-priced jewelry and expensive cars, including a Bentley and two Lamborghinis, according to a watchdog report.

The Paycheck Protection Program had the highest percentage of cases of criminal activity of all the pandemic relief programs, according to the Pandemic Response Accountability Committee’s recent Semiannual Report to Congress.

“A total of 14 OIGs have indictments/complaints, arrests, and/or convictions from April 1, 2021, through September 30, 2021, related to the federal government’s COVID-19 pandemic response,” PRAC reported.

Read More

Commentary: Did PPP Work?

Georgia Star News Staff

As the Small Business Administration official who oversaw the Paycheck Protection Program, I’m often asked, “Did PPP actually work?”  

PPP was a response to state and local governments mandating shutdowns as a way to slow the spread of COVID-19. The premise was this: Encourage lenders to provide small businesses and nonprofits with forgivable, SBA-guaranteed loans over an eight-week period as a payroll-support measure. This small business financial support was designed to help prevent mass unemployment as Americans were confined to their homes.  

Read More

Senator Kelly Loeffler Compares Her Record, Including Passage of New PPP Funding, to Raphael Warnock’s Record

Jason M. Reynolds

U.S. Senator Kelly Loeffler on Friday highlighted the stark contrasts between her record in the successful PPP program and other COVID-19 assistance in the Senate versus her opponent Rev. Raphael Warnock’s PPP record.

Loeffler pointed out the differences in a tweet.

Read More

Republicans Will Put PPP Funding Back on the Floor for a Vote Despite Democrats’ Efforts to Block It, Sen. Blackburn Says

Jason M. Reynolds

U.S. Sen. Marsha Blackburn (R-TN) told CNBC’s SquawkBox on Wednesday that Republicans will try again to pass their bill that would provide PPP and vaccine funding despite Democrats’ attempts to block the efforts.

CNBC asked Blackburn if she would vote for a deal if the White House and the Treasury Department reached an agreement with House Speaker Nancy Pelosi (D-CA-12).

Read More

Congressional Debate: Candidates Scott Taylor and Incumbent Elaine Luria Spar Over Stimulus Packages and Gun Control

Corinne Murdock

Republican challenger Scott Taylor and incumbent Representative Elaine Luria (D-Virginia Beach) faced off Tuesday night in their first televised debate. The 2nd Congressional District race is currently a toss-up.
Political reporter Joe St. George served as the moderator. Questions featured were presented in three segments: from the moderator first, then viewers, and lastly from Taylor and Luria.

Read More