Categories
Kitchen Rugs

Justice Department indicts Minnesota contractor for $841K PPP loan fraud

Dive Transient:

  • The U.S. Division of Justice (DOJ)  has indicted a St. Paul, Minnesota, contractor for allegedly defrauding the Paycheck Defense Application, a specific constrained financial loan initiative meant to provide economical reduction to firms negatively impacted by the COVID-19 pandemic. 
  • U.S. Legal professional Erica H. MacDonald explained in a statement that Kyle William Brenizer applied for and obtained an $841,000 PPP financial loan beneath the identify of his defunct development business, Accurate-Reduce Building LLC. 
  • As component of the PPP application course of action, prosecutors allege that Brenizer submitted false personnel and expense data, as perfectly as fraudulent economical and
Read More
Categories
Dining Room Furniture

Readers Respond: PPP loans help keep workers on payroll

Countless numbers of the country’s building-relevant companies have benefited from federal Paycheck Security Program loans to enable them climate the financial downturn induced by the coronavirus disaster.

Information produced previous week by the the federal govt showed that it issued $521 billion in loans, with an regular financial loan sizing of $107,000. Targeted at maintaining employees used, the govt mentioned the method has served to aid about 51 million careers. 

Building Dive asked audience about their knowledge with PPP loans. Just about 96% of respondents mentioned they had used for a financial loan and of these, ninety two% gained a

Read More