A number of private-equity firms received millions of dollars in loans from a taxpayer-backed program despite being told they weren’t allowed to access the money, an analysis of U.S. Small Business Administration data shows.
Hedge funds and private-equity funds were among those that tapped the Paycheck Protection Program, created to help small businesses get through the coronavirus pandemic. The SBA in April ruled that these investment firms weren’t eligible for the aid as they are “engaged in investment or speculation.” The...
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July 07, 2020 at 05:41PM
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Private-Equity Firms Borrow From PPP, Despite Later Rule Barring Them - The Wall Street Journal
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