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Thread: Nearly $3M Meant for Small Businesses Amid Pandemic Went To Companies Gov. Gavin Newsom Founded

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    Nearly $3M Meant for Small Businesses Amid Pandemic Went To Companies Gov. Gavin Newsom Founded

    San Francisco (KGO)-ABC7 analysis shows that at least eight companies, partially owned by Governor Gavin Newsom, received a total of millions of dollars from the Paycheck Protection Program.

    According to data released earlier this year by the Small Business Administration, the PlumpJack Group received up to $ 350,000 worth of PPP loans, but according to new data released by SBA, PlumpJack businesses such as wineries, bars and restaurants Has received more than eight times that amount. That's close to $ 3 million in total...

    "It's unexpected that a 14-employee organization will earn nearly $ 1 million," said Sean Moulton, senior policy analyst at the Project On Government Oversight Project (POGO). He specializes in tracking PPP funds. "The purpose behind this program was to save entry-level jobs, those who work in and out of their salaries. That was the purpose we put them in to stop unemployment."

    The average small business loan for a California company with 14 employees was around $ 128,000. Still, PlumpJack entity Villa Encinal Partners LP (which also holds 14 employees according to SBA data) received more than seven times that amount, $ 918,720...

    Nearly $3M meant for small businesses amid pandemic went to companies Gov. Gavin Newsom founded, data shows - California News Times

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