Almost 90,000 employers also appear to have received money despite not saying how many jobs they would save
As part of its $660 billion small-business relief program, the SBA also handed out loans to private schools catering to elite clientele, firms owned by foreign companies and large chains backed by well-heeled Wall Street firms. Nearly 90,000 companies in the program took the aid without promising on their applications they would rehire workers or create jobs.
The data, which was released after weeks of pressure from media outlets and lawmakers, paints a picture of a haphazard first-come, first-served program that was not designed to evaluate the relative need of the recipients. While it buttressed a swath of industries and entities, including restaurants, medical offices, car dealerships, law firms and nonprofits, the agency did not filter out companies that have potential conflicts of interest among influential Washington figures. Continue reading.