Different Names, Same Address: How Big Businesses Got Government Loans Meant for Small Businesses (ProPublica)

ProPublica: Different Names, Same Address: How Big Businesses Got Government Loans Meant for Small Businesses. “From Vibra’s corporate address in Pennsylvania, 26 limited liability companies received PPP loans, 23 of them from the same bank, with almost all the loan approvals coming on the same day in April. ProPublica found several other large businesses employing the same apparent strategy of counting each of their LLCs or other entities as a separate business. In Las Vegas, a casino operator backed by hedge funds got 20 loans. Two nursing home chains received tens of millions of dollars: One chain in Illinois got loans for 51 different entities, while another based in Georgia got 19. Together, ProPublica was able to identify up to $516 million that flowed to just 15 organizations.”

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