More than one-third of PPP money in Illinois went to employers that got $1 million or more, new SBA data shows

More than one-third of the funds Illinois businesses and nonprofits received through the federal Paycheck Protection Program went to less than 2% of participants, according to data released late Tuesday by the Small Business Administration.Nearly 4,000 businesses in Illinois received loans of $1 million or more, adding up to $8.67 billion, or 38% of the total. In Illinois, the SBA approved more than 221,000 loans worth nearly $23 billion, according to the newly published data.The agency released the data under a court order in a federal lawsuit filed by news organizations, making public the na…

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HEDGE accordingly