Ppp loan fraud list - We estimate that SBA disbursed over $200 billion in potentially fraudulent COVID-19 EIDLs, EIDL Targeted Advances, Supplemental Targeted Advances, and …

 
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Three Individuals are facing federal charges for allegedly fraudulently obtaining more than $2.4 million in PPP loans. Three Individuals are facing federal charges for allegedly fr...Administration’s Economic Injury Disaster Loan (EIDL) program. The EIDL program provided grants and low-interest loans to small businesses affected by the COVID-19 pandemic, among other disasters. Between April 2020 and June 2020, the defendants submitted more than 400 fraudulent EIDL applications and attempted to get over $7 million in funding.The Department of Justice announced today new criminal charges, convictions, and sentences as part of its ongoing initiative to prosecute fraud in connection with various pandemic relief programs under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, including the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, as well as other crimes ...The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP. Since the inception of the CARES Act, the Fraud Section has prosecuted over 200 defendants in more than 130 criminal cases and has seized over $78 million in cash proceeds derived from fraudulently obtained PPP funds, as well as …The U.S. Senate confirmed Brian Miller, a former White House lawyer, to the post in June. Until recently, it was widely assumed that Miller and his office would play a central role in investigating potential fraud on the PPP, which has proved to be the CARES Act’s most controversial program. Indeed, as the PPP came under intense scrutiny last ...Jan 17, 2023 ... According to data cited in a recent NPR article, as much as $64 billion of the $800 billion in forgivable loans issued under the Paycheck ...A new academic working paper released on Tuesday contains an estimate: Around 1.8 million of the program’s 11.8 million loans — more than 15 percent — totaling $76 billion had at least one ...PPP Loan Recipient List By State —. Alabama. 169,558 TOTAL PPP LOANS. $9.4B TOTAL LOAN AMOUNT. $55,525 AVERAGE PPP LOAN. 7 AVG COMPANY SIZE. Alabama has a total of 169,558 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 …Eleven defendants from Missouri, Kansas, Texas, and Washington have been indicted by a federal grand jury for their roles in a conspiracy that resulted in more than $220,000 in fraudulent Paycheck Protection Program (PPP) loans being issued under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Daisha Sanders, and her boyfriend ...PPP Loan Recipient List By State —. North Carolina. 258,991 TOTAL PPP LOANS. $17.7B TOTAL LOAN AMOUNT. $68,195 AVERAGE PPP LOAN. 9 AVG COMPANY SIZE. North Carolina has a total of 258,991 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top …Mar 3, 2023 · EVERY falsely certified that the applications and the information provided in the supporting documents were true and accurate when she electronically submitted the fraudulent PPP loan applications. EVERY charged the individuals she recruited to prepare and submit the fraudulent PPP application anywhere from $45.00 to $120.00 . Feb 12, 2024 · The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP. Since the inception of the CARES Act, the Fraud Section has prosecuted over 200 defendants in more than 130 criminal cases and has seized over $78 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real ... The Impact of PPP Loan Fraud. The impact of loan fraud is far-reaching and can have serious consequences for businesses and individuals. For businesses, PPP loan fraud can result in a loss of funds as well as reputational damage. It can also lead to an investigation by the Small Business Administration (SBA) and criminal charges.Skip to main content. People; Services; Pro Bono; News & Perspectives; Offices; ×It points to "1,011 indictments, 803 arrests, and 529 convictions related to COVID-19 EIDL and PPP fraud as of May 2023." All told, the report says "nearly $30 billion" in aid has been seized or ...The Impact of PPP Loan Fraud. The impact of loan fraud is far-reaching and can have serious consequences for businesses and individuals. For businesses, PPP loan fraud can result in a loss of funds as well as reputational damage. It can also lead to an investigation by the Small Business Administration (SBA) and criminal charges.View loan balance and make payments. Create an account in the MySBA Loan Portal (lending.sba.gov) to monitor your PPP loan status. Payments can only be made using the MySBA Loan Portal for SBA-purchased PPP loans. All others can continue to set up and manage online payments at Pay.gov.The indictment alleges that the defendants defrauded lenders of approximately $2.49 million in PPP loans and defrauded the SBA of approximately $256,500 in EIDL funds. Much of the money was allegedly used for the defendants’ personal benefit, including the purchase of real estate and the lease and purchase of luxury automobiles.Jul 29, 2022 ... The PPP program is not alone in experiencing massive amounts of fraud. Some $90 billion to $400 billion is believed to have been taken from the ...A congressional report says financial technology companies fueled rampant PPP fraud. A congressional report found financial technology companies, or fintechs, largely fueled PPP loan fraud ...Dec 23, 2022 ... The report noted that "at least tens of billions of dollars" were disbursed to fraudulent or ineligible applicants. The report examined the ...The COVID-19 Fraud Strike Force Team, created by the U.S. Attorney’s Office to investigate fraud, is based out of Miami. Christensen said high-ranking BSO employees may be involved.As part of the Paycheck Protection Program, the federal government has provided hundreds of billions in financial support to banks to make low-interest loans to companies and nonprofit organizations in response to the economic devastation caused by the coronavirus pandemic. Search more than 11 million loans approved by lenders and disclosed by the Small Business Administration. | <a href ...The fraud estimate for the EIDL program is more than $136 billion, while the PPP fraud estimate is $64 billion. In earlier estimates, the SBA inspector general said about $86 billion in fraudulent ...Dive Brief: Bankrupt small-business lender Kabbage will pay up to $120 million over allegations it committed Paycheck Protection Program fraud, the Justice …This Fraud Alert from the Pandemic Response Accountability Committee (PRAC) identifies 69,323 questionable Social Security Numbers (SSNs) used to obtain $5.4 billion from the Small Business Administration’s (SBA) COVID-19 Economic Injury Disaster Loan (COVID-19 EIDL) program and Paycheck Protection Program (PPP).Jun 22, 2022 · Francis J. Battista, 37, of Aston, Pennsylvania, filed 19 fraudulent applications for PPP and EIDL loans in 2020 and 2021, seeking over $10 million in loans. Battista allegedly supported his fraudulent loan applications by submitting fake tax documents, bank records and payroll summaries. Apr 14, 2023 ... Since July, the Office of the Independent Inspector General has singled out 17 employees for a combination of fraud and violations of county ...COVID-19. Payroll. On August 5, 2022, President Biden signed the PPP and Bank Fraud Enforcement Harmonization Act of 2022 (HR7352) that establishes a 10-year statute of limitations for criminal charges and civil enforcement against a borrower who engages in fraud with respect to a Paycheck Protection Program loan.Oct 13, 2023 · Six workers have resigned, and Cyranoski recommended firing the other one, who got $40,000 from two PPP loans and $10,000 from the Economic Injury Disaster program, according to the report. Related All PPP lenders have an obligation to mitigate fraud, waste, and abuse in SBA programs. If a lender receives a complaint about suspected SBA identity theft, they must send the loan file to SBA, collect and submit required documents, conduct a review, and make a determination. 1. Send the loan file to SBANovember 22, 2022 — A Somerset County, New Jersey, man admitted fraudulently obtaining over $850,000 in federal Paycheck Protection Program (PPP) loans U.S. Attorney Philip R. Sellinger, announced today.Columbia, South Carolina --- United States Attorney Peter M. McCoy, Jr., announced today that seven individuals were charged in an indictment with laundering over $750,000 of fraudulently obtained funds, including over $390,000 from a Paycheck Protection Program (PPP) loan.The defendants used a variety of methods to launder the …The PPP was created by Congress to provide billions of dollars in forgivable loans to small businesses struggling to fund payroll and certain other qualifying business expenses because of the effects of the COVID-19 pandemic. The PPP was overseen by the SBA, which guaranteed loans issued, in the first instance, by commercial lenders.Since May 2020, when the government approved COVID-19 economic relief programs for small businesses, the Payment Protection Program (“PPP”) and the Economic ...Last month, House Democrats found billions of dollars in questionable PPP loans. Democratic lawmakers warned that the program was at risk of fraud and urged the Trump administration to increase ...PPP Loan Recipient List By State —. Illinois. 620,045 TOTAL PPP LOANS. $37.3B TOTAL LOAN AMOUNT. $60,159 AVERAGE PPP LOAN. 6 AVG COMPANY SIZE. Illinois has a total of 620,045 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Illinois …Any loan exceeding $2 million was automatically flagged for review under a Department of Treasury policy adopted in 2020 to apply stricter scrutiny to the largest PPP loans. But the POGO report ...PPP Loan Recipient List By State —. Illinois. 620,045 TOTAL PPP LOANS. $37.3B TOTAL LOAN AMOUNT. $60,159 AVERAGE PPP LOAN. 6 AVG COMPANY SIZE. Illinois has a total of 620,045 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Illinois …Jun 27, 2023 · It points to "1,011 indictments, 803 arrests, and 529 convictions related to COVID-19 EIDL and PPP fraud as of May 2023." All told, the report says "nearly $30 billion" in aid has been seized or ... The Impact of PPP Loan Fraud. The impact of loan fraud is far-reaching and can have serious consequences for businesses and individuals. For businesses, PPP loan fraud can result in a loss of funds as well as reputational damage. It can also lead to an investigation by the Small Business Administration (SBA) and criminal charges. PPP Loan Recipient List By State —. Georgia. 553,318 TOTAL PPP LOANS. $24.9B TOTAL LOAN AMOUNT. $44,958 AVERAGE PPP LOAN. 5 AVG COMPANY SIZE. Georgia has a total of 553,318 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Georgia by number of ... 01:03. Tens of thousands of fraudsters splurged on Lamborghinis, vacation homes, private jet flights and Cartier jewelry by fleecing the PPP loan system in a $200 billion heist — and did it ...The Small Business Administration has released a list of businesses that have received emergency pandemic loans. Use our searchable database to see who in ...Nationally, more than 400,000 loans valued at more than $35 billion have been approved for the January 2021 round. Overall, the average loan size is $87,000. Together, more than 5.5 million PPP loans were approved totaling more than $557.8 billion. “It was set up for people with power to get more power,” Christopher said.The government, the treasury, they gave $2 trillion for PPP loans for small businesses. Eighty-five percent of it went to major corporations.” Just days after our …View loan balance and make payments. Create an account in the MySBA Loan Portal (lending.sba.gov) to monitor your PPP loan status. Payments can only be made using the MySBA Loan Portal for SBA-purchased PPP loans. All others can continue to set up and manage online payments at Pay.gov.PPP provided small businesses with funds to pay up to eight weeks of payroll costs and related expenses. Powell applied for a PPP loan on February 22, 2021. Powell claimed he had operated a barber shop since June 2018 and had one employee with an annual payroll expense of $96,000. He was approved for a $20,000 PPP loan.Jul 7, 2022 · Based on the defendants' misrepresentations, lenders approved at least three fraudulent PPP loans and disbursed more than $62,000 in federal COVID-19 emergency relief funds. The counts of bank fraud and bank fraud conspiracy each carry a maximum penalty of 30 years in prison and a maximum fine of $1 million. PPP Loan Recipient List By State —. South Carolina. 150,217 TOTAL PPP LOANS. $8.7B TOTAL LOAN AMOUNT. $57,758 AVERAGE PPP LOAN. 7 AVG COMPANY SIZE. South Carolina has a total of 150,217 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in South ... Under open government transparency guidelines, information on recipients of the $793B in forgivable government loans issued through the 2020 Paycheck Protection Program by the US Small Business Administration (SBA) are a matter of public record. FederalPay.org has created a powerful search tool that allows public access to the PPP loan database. June 27, 2023, 12:44 PM PDT. By Laura Strickler. More than $200 billion in Covid relief loans and grants were distributed to potentially fraudulent actors, nearly one-fifth of all Small Business ...Sep 18, 2023 ... Two Virginia residents have been ordered to pay $336356 for submitting fraudulent loan applications through the Small Business ...May 30, 2023 ... Loan and Guaranty Centers · Open government · FOIA · Digital SBA · About ... Preventing fraud and identity theft ... Download all PPP l...However, $659 billion is a very big pie. Inevitably, there may be illegal efforts to sneak extra slices. Federal prosecutors are now bringing the first cases of alleged fraud used to obtain PPP loans.Nov 14, 2023 ... “Covid-19 Pandemic EIDL and PPP Loan Fraud Landscape. ... exhaustively list. Among the notable cases ... Lenders likely pursued active collections ...As of July 4, 2022, the Small Business Administration provided 11.47M loans totaling $792.6B. The intent of the program was to provide incentives for small businesses to keep their workers on the payroll. ... We’re focused on rooting out unemployment insurance fraud and improving how the program is managed. ... (PPP) …Report suspected PPP fraud to the SBA's Office of Inspector General online or at 800-767-0385. You can also file a complaint with the FTC. ARTICLE CONTINUES AFTER ADVERTISEMENT. The Paycheck Protection Program (PPP) has been extended until Aug. 8. Federal officials say beware of criminals posing as banks to get financial info.The Justice Department has charged more than 120 defendants with fraud related to PPP loans. Some cases are substantial. For example, in March, a Texas man pleaded guilty to a scheme applying for ...suspected PPP fraud. Role of DNP in SBA’s Initial COVID-19 PPP Response Querying PPP borrower identifiers to data maintained in the DNP portal can identify potentially …The scheme allegedly caused more than $240,000 in fraudulent PPP loans to be issued to ineligible borrowers, some of which were forgiven even though the funds were not used for the purposes specified in the PPP. According to the indictment, Golden-Larimore prepared and filed fraudulent PPP loan applications on behalf of the other co …Mar 28, 2024 · IR-2024-83, March 28, 2024 — Four years after the enactment of a key pandemic-era law, the Internal Revenue Service released updated numbers showing Criminal Investigation (CI) has investigated 1,644 tax and money laundering cases related to COVID fraud potentially totaling $8.9 billion, with well over half that amount coming from cases opened in the last year. Columbia, South Carolina --- United States Attorney Peter M. McCoy, Jr., announced today that seven individuals were charged in an indictment with laundering over $750,000 of fraudulently obtained funds, including over $390,000 from a Paycheck Protection Program (PPP) loan.The defendants used a variety of methods to launder the …The PPP program gave out hundreds of billions of dollars in forgivable loans to be used to keep businesses afloat during the early months of the COVID-19 pandemic, but it has been rife with fraud ...A new academic working paper released on Tuesday contains an estimate: Around 1.8 million of the program’s 11.8 million loans — more than 15 percent — totaling $76 billion had at least one ...On January 10, 2024, a Paycheck Protection Program (PPP) loan recipient pleaded guilty to one count of Bank Fraud. Marco Schiavenin, owner of Sterling Flooring in Fairfax, Virginia, pleaded guilty in the Eastern District of Virginia. According to the factual statement in support of the guilty plea, on or about May 20, 2020, Schiavenin, acting on behalf of …Meanwhile, the SBA is closely scrutinizing just a tiny portion of the millions of PPP loans for fraud and forgiveness eligibility. The SBA uses computer models to review all 11.4 million loans ...The list of various CARES Act schemes is endless and astounding: the couple who scammed some $20 million off unemployment insurance while living as high rollers in Los Angeles; the Chicago man ...Around 1.8 million of the PPP's 11.8 million loans showed signs of fraud, according to an academic working paper cited by The New York Times. Researchers estimate that $76 billion in PPP loan money was taken illicitly. That’s almost 10% of the program’s nearly $800 billion budget.Analysis of PPP and COVID-19 EIDL Charges Illustrates Fraud Schemes and Their Actual and Potential Impacts 21 Our Analysis Reveals Millions of PPP and COVID-19 EIDL Recipients with Fraud Indicators, and Certain Lenders Originated Higher Rates of Fraudulent PPP Loans 44 Enhanced Data Analytics Can Help SBA Identify PotentiallyMay 13, 2022 — Carl Delano Torjagbo, aka Karl Lucius Delano, has been arrested on federal bank fraud and money laundering charges arising from a scheme to defraud a bank by obtaining a $9.5 million Paycheck Protection Program ("PPP") loan in the name of a fictitious company and then allegedly using the loan proceeds to upgrade his personal …Jan 9, 2023 · The SBA has closely scrutinized just a tiny portion of PPP loans for fraud and forgiveness eligibility. The agency said it used computer models to review all 11.4 million loans, but that auditors ... PPP Loan Recipient List By State —. Texas. 938,535 TOTAL PPP LOANS. $62.7B TOTAL LOAN AMOUNT. $66,858 AVERAGE PPP LOAN. 8 AVG COMPANY SIZE. Texas has a total of 938,535 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Texas …The tax fraud scheme caused a total tax loss of more than $19 million. The Rudin brothers and Havana also prepared and submitted false applications for PPP loans on behalf of small businesses, shell companies, and other business entities they controlled, and took a fee of 30% of the fraudulent loan.May 19, 2022 — Darrell Thomas has been sentenced after pleading guilty to conspiracy to commit bank fraud and wire fraud and to money laundering for masterminding a scheme to obtain 14 fraudulent loans totaling approximately $11.1 million from the Paycheck Protection Program (“PPP”). To date, a total of twenty-three individuals have been charged in …The Small Business Administration has released a list of businesses that have received emergency pandemic loans. Use our searchable database to see who in Louisiana received funds. Tweet; Share. ... That's why we published PPP loan data. When the government spends money, taxpayers deserve to know how it was spent, Clarion …These defendants submitted over 33 applications for PPP and EIDL loans seeking over $9.4 million in loans, $7 million of which were funded. From January 2018 through August 2021, Barrie Osborne (a co-conspirator previously charged who is now deceased), Frank Hamilton, Michael Jones, Kenny Tran, Tina Chen, Tim Park, Peter An, Joe Greco, and ...PPP Loan Recipient List By State —. Georgia. 553,318 TOTAL PPP LOANS. $24.9B TOTAL LOAN AMOUNT. $44,958 AVERAGE PPP LOAN. 5 AVG COMPANY SIZE. Georgia has a total of 553,318 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 …Last year’s congressional report on PPP fraud said federal prosecutors have filed more than 1,000 cases of PPP fraud involving more than $1.5 billion in losses to taxpayers and that fraud in the ...01:03. Tens of thousands of fraudsters splurged on Lamborghinis, vacation homes, private jet flights and Cartier jewelry by fleecing the PPP loan system in a $200 billion heist — and did it ...The Small Business Administration has released a list of businesses that have received emergency pandemic loans. Use our searchable database to see who in Louisiana received funds. Tweet; Share. ... That's why we published PPP loan data. When the government spends money, taxpayers deserve to know how it was spent, Clarion …KC federal grand jury indicts 11 people, alleging more than $220,000 PPP loan fraud conspiracy. expand. A federal grand jury in Kansas City indicts 11 people, charging them with a conspiracy to ...One includes Chris Lick of Starkville, Mississippi, who was sentenced to 78 months for submitting a fraudulent PPP loan application and has a $12,000,000 civil judgment. Another example is Mississippi attorney and SBA employee LaKeith Faulkner, who was sentenced to 62 months and ordered to pay $10,600,000 in restitution for his role in a scheme ...If you know the loan number of the suspected fraudulent loan or already have a MySBA account, your best option is to report identity theft through the MySBA Loan …Mar 26, 2021 · Paycheck Protection Program (PPP) fraud: Prominent among the department’s efforts have been cases brought by the Criminal Division’s Fraud Section involving at least 120 defendants charged with PPP fraud. The cases involve a range of conduct, from individual business owners who have inflated their payroll expenses to obtain larger loans ... Jul 7, 2022 · Based on the defendants’ misrepresentations, lenders approved at least three fraudulent PPP loans and disbursed more than $62,000 in federal COVID-19 emergency relief funds. The counts of bank fraud and bank fraud conspiracy each carry a maximum penalty of 30 years in prison and a maximum fine of $1 million.

Other concerns not involving fraud, waste or abuse involving SBA's programs or operations. If you have a question regarding an SBA loan or any SBA program, please contact your local SBA District Office or the SBA Answer Desk by telephone, 1-800-U-ASK-SBA (1-800-827-5722), by email, [email protected], or speak with an American Sign Language .... Hunter and gather antiques

ppp loan fraud list

Two other individuals pleaded guilty to fraudulently obtaining PPP and EIDL loans. Eric Rivera, 43, of Norcross, Georgia, is charged by complaint with one count of conspiracy to commit bank fraud, one count of conspiracy to commit wire fraud, and one count of conspiracy to commit money laundering.We also note that SBA made approximately 11.4 million PPP loans, which by statute are 7(a) loans. The 70,000 PPP loans identified by OIG as potentially fraudulent, combined with the 54,000 PPP inquiries to the OIG Hotline, equates to approximately one percent of the PPP loans made by SBA.A federal grand jury in Houston returned a superseding indictment, which was unsealed today, charging four additional individuals for fraudulently obtaining and laundering millions of dollars in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In total, 15 individuals ...Since May 2020, when the government approved COVID-19 economic relief programs for small businesses, the Payment Protection Program (“PPP”) and the Economic ...Last month, House Democrats found billions of dollars in questionable PPP loans. Democratic lawmakers warned that the program was at risk of fraud and urged the Trump administration to increase ...Feb 3, 2022 · The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP. Since the inception of the CARES Act, the Fraud Section has prosecuted over 150 defendants in more than 95 criminal cases and has seized over $75 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real ... Feb. 6, 2024 — Three people were sentenced today for fraudulently obtaining and misusing Paycheck Protection Program (PPP) loans that the U.S. Small Business …A search by the Independent of a PPP database showed only one other island association, Ocean Lane Plaza, had a forgiven PPP loan, for $27,221. Two private clubs –the Key Biscayne Yacht Club and ...PPP Loan Recipient List By State —. Florida. 983,334 TOTAL PPP LOANS. $50.1B TOTAL LOAN AMOUNT. $50,905 AVERAGE PPP LOAN. 6 AVG COMPANY SIZE. Florida has a total of 983,334 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Florida …Oct 11, 2023 · A federal grand jury in the Western District of Tennessee returned an indictment yesterday charging 10 individuals for their roles in schemes to defraud the Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP), federal stimulus programs authorized as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. An administrator making more than $120,000 a year got a $20,000 PPP loan by paying someone to fill out the application and report they made $100,000 as an independent contractor in 2019.The PRAC identified $5.4 billion in potential identity fraud associated with 69,323 questionable and unverified SSNs used across disbursed COVID-19 EIDL and PPP applications—that is, applications that successfully received a loan and/or grant. Eligibility for these disbursements could have been questioned further by SBA before the loan …EVERY falsely certified that the applications and the information provided in the supporting documents were true and accurate when she electronically submitted the fraudulent PPP loan applications. EVERY charged the individuals she recruited to prepare and submit the fraudulent PPP application anywhere from $45.00 to $120.00 .Oct 12, 2023 ... Sheriff: 'How can we have anyone wearing a badge that is stealing from the American people?' · Alexandra Acosta, 37 · George Anthony III, 50.Here's a breakdown of the PPP Loan Fraud website called PPP Detective, including who's PPP Loan got flagged for fraud. Enjoy! Join "Millionaire Movement” Dis...Four Cook County employees committed “financial fraud directed at the federal government” by wrongly collecting roughly $120,000 in payroll protection plan loans intended to help businesses ....

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