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Thank youHappens to me too...I get frustrated by the talking point wars.I expect better from you. You're supposed to be one of the sane ones.Lone Star...I am your mother's sister's nephew's former roommateThis is why we need independent oversight for these vast sums of money going out...100 million in sales and still a "small business"....?
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Company With Ties To Trump Receives Millions From Small Business Loan Program
Many businesses have struggled to get any money from the Paycheck Protection Program. But a company owned by a prominent Chicago family received a $5.5 million loan.www.npr.org
While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.
U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.
Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific "small business" size standards, according to company chief financial officer Paul Ainsworth.
Still, the company's loan is much larger than the typical PPP loan, according to a summary releasedby the Small Business Administration last week. The average loan was just over $200,000, and fewer than 1% of the loans under the program were greater than $5 million.
While the company may qualify as a small business under the PPP program, there are many much smaller businesses that have been unsuccessful in obtaining or even applying for the loans from their banks.
Well then Dark Helmet... what does that make us?
Absolutely nothing Lone Star...which is the exact factual content of this OP that links this loan to Trump .
you mean the op sounds a lot like most of what you guys post about Biden?
It is factual that family owning this business has strong ties to Trump. That's usually enough "fact" for the right.
If you're telling me you're no better than the lowest political denominator I'll take you at your word...but that was not my prior position.
That is a fair point. Sometimes the low bar here gets to me and a slap is what I need.
My point here, really, is that this bill was poorly constructed. Everyone - Trump, Dem, and Republican - are influenced by lobbyists and I'm sure that allowed for the loose language in what is defined as a small business. In this area - trying to tighten it and impose greater oversight, the Dems were absolutely right. It's to bad they were unable to get more of what they wanted in that regard. As a result - the real small business' are getting crumbs, if anything at all. The second article I posted (from the same source) is even more damning and doesn't mention Trump.
Your one of the good ones...when I read your posts I take them under consideration...and you've changed my opinion in the past. You and Care4all Pogo Dr Grump g5000 bodecea sealybobo Seawytch jillian Toro... And a bunch of others... You guys give me an honest insight from the other side.
Trust me...we all need that.