Girish Patel doubts his small, 20-year-old shop will survive the pandemic economy. Thirty stories above, aerospace company TransDigm has sustained eye-popping profits thanks to steep layoffs and raised over a billion with help from the U.S. government.
The catastrophic loss of millions of U.S. jobs is another part of the coronavirus pandemic that is falling disproportionately onto the shoulders of Black Americans.
The Paycheck Protection Program includes about $659 billion in federally backed loans to small businesses, to be forgiven if used to prevent laying off workers. Our database lets you search what’s been disclosed so far.
Even if you live in a state that has not banned evictions, federal rules may still protect you. Look up your address to learn more.
Democrats say the letter violates the law against using government resources to campaign. It’s just the latest example of President Trump using his office to boost his reelection hopes.
More people than ever became eligible for unemployment benefits after Congress included part-time and gig workers, but the data shows that hasn’t solved a huge racial disparity. Here’s why.
Up to $1 billion in small business relief dollars went to hotel chains with more than 500 employees. One beneficiary was the client of a former aide to Sen. Susan Collins who was among many lobbying her to create this special exception.
A meses de haber comenzado la pandemia, un prestamista que se comercializa entre los inmigrantes latinos siguió demandando a sus prestatarios, a pesar de que estos perdieron sus empleos y se retrasaron con sus pagos. No obstante, la compañía dio marcha atrás cuando nosotros comenzamos a hacer preguntas.
How the Trump Administration Allowed Aviation Companies to Keep Relief Money That Was Supposed to Go to Workers
One of the most generous programs of the bailout was meant to help airline industry companies keep their workers on the payroll. Some laid workers off first and then got the money anyway.
Months into the pandemic, a lender that markets to Latino immigrants continued to sue borrowers after they lost jobs and missed payments. But they reversed course when we started asking questions.
The Small Biz Double-Dip: Temp Companies Got Cheap Government Money, Got Paid by Clients for the Same Workers
One of the biggest beneficiaries of the Paycheck Protection Program for small businesses were temp agencies. Many have been able to turn the government loans into profits.
The CARES Act was largely successful in keeping millions of American renters from facing eviction during the pandemic. As protections fade, some landlords are gearing up to return to court.
A top official said 99% of funds were paid, but only 55% of small business owners reported receiving the money. Borrowers were told there was a technical glitch, but the Small Business Administration would not answer questions about it.
ProPublica found at least 15 large companies that received over half a billion dollars in PPP loans using the same technique: Getting multiple loans sent to smaller entities they own.
Three companies including Gate Gourmet, a global provider of airline meals, received $338 million in relief money for workers — and laid workers off anyway.
After resisting its release, the administration revealed information on companies that received more than $150,000 in PPP funds.
Oyster, Air Fryer and Bicycle Companies Say Their Goods Are Essential to Fighting Coronavirus So They Can Get Tariff Relief
Trump’s trade agency is taking applications for products that should escape new tariffs. Companies making everything from shoes to hors d’oeuvres are submitting justifications that are … creative.
Wage garnishments ordered before the pandemic started have continued for many workers during the recession. Senators Elizabeth Warren and Sherrod Brown have demanded an end to the practice.
As the COVID-19 pandemic hit, Americans got protection from evictions, foreclosures and student debt. But debt collectors have continued to siphon off their share of paychecks from those who still have jobs.
Deputy Treasury Secretary Justin Muzinich has an increasingly prominent role. He still has ties to his family’s investment firm, which is a major beneficiary of the Treasury’s bailout actions.
The CARES Act temporarily protects millions of renters from being evicted, and many states and cities passed their own rules to help those struggling to pay rent. Use our new database to find out if eviction bans might apply to you.
The Trump Administration Says a New Bailout Program Will Help 35 Million Americans. It Probably Won’t.
Experts from across the political spectrum fear that the Federal Reserve’s new Main Street Lending program won’t reach enough businesses or save enough jobs.
The Small Business Administration, which is administering the lending program, has said it will disclose the names of companies that got loans — just not yet. News organizations are suing to stop the delay.
The economy is in free fall but Wall Street is thriving, and stocks of big private equity firms are soaring dramatically higher. That tells you who investors think is the real beneficiary of the federal government’s massive rescue efforts.