Report: Government contractors received PPP loans while getting paid

File – Treasury Secretary Steven Mnuchin is pictured. (AP Photo)

OAN Newsroom
UPDATED 8:47 AM PT — Monday, July 20, 2020

Government contractors are coming under fire for reportedly receiving Paycheck Protection Program (PPP) loans while still getting paid.

A new analysis by the Wall Street Journal, released Sunday, revealed at least 68 Florida companies received both government contracts and PPP loans despite having active state projects. The approved loans valued to about $150, 000 despite existing contracts dated back to April.

Treasury Secretary Steve Mnunchin has suggested tougher PPP restrictions to ensure checks are going to the right businesses.

“A next phase of relief should extend the PPP, but on a more targeted basis for smaller companies and those that are especially hard hit,” he stated. “Such as restaurants, hotels, and other travel and hospitality business.”

Over the weekend, several New York companies were also accused of running a Ponzi scheme using PPP loans.

RELATED: Secy. Mnunchin addresses direction of next PPP loans

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Amber Coakley
Author: Amber Coakley

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