The news is out: [Despite its long history of mismanagement and eventual debarment, HPI was approved this spring for a $441,580 loan through the U.S. Small Business Administration Paycheck Protection Program, part of the federal government’s massive pandemic economic relief package, according to a review by NBC News.
Companies debarred by the federal government are not supposed to receive these low-interest federally backed loans, according to the requirements for the PPP program. But the House Select Subcommittee on the Coronavirus Crisis reported in September that it found more than 600 loans totaling over $96 million went to companies that were excluded from doing business with the government. Then on Jan. 11, the SBA’s inspector general reported the number of loans to debarred firms appears to be more than 950. But neither report named those companies.]
This is one of the countless ways the American taxpayers are deceived by their government.