House coronavirus oversight panel asks five companies to return loans meant for small businesses

Lauren Fox and Clare Foran of CNN –

The House Oversight Committee’s new select coronavirus oversight panel sent letters to five different companies on Friday asking them to return loans they received from the Paycheck Protection Program set up during the pandemic to aid struggling small businesses.

The letters ask each of the companies to “immediately return” the loan given out under the program “so that these funds may be used to support truly small businesses that are struggling to survive during the coronavirus crisis.”

The move, which stands as the first official action taken by the newly created oversight panel, comes amid an outcry over how the funds have been distributed, with some loans going to chain restaurants and publicly traded corporations as opposed to small, local businesses.

About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Known as a coalition builder, he has participated in election campaigns and legislative efforts in the United States and several other countries.
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