Thread by @kenvogel, SCOOP: @SBAGov awarded a $50M contract for coronavirus loan processing to a [...]

Kenneth P. Vogel

kenvogel

SCOOP: @SBAGov awarded a $50M contract for coronavirus loan processing to a team including @RocketLoans.

* ROCKET LOANS owner DAN GILBERT donated $750k to TRUMP's inauguration & $67k to the '16 GOP convention.

** Trump has called Gilbert “a great friend" https://www.nytimes.com/2020/04/03/us/politics/small-business-administration-coronavirus.html

Administration Turns to Private Firms to Help Process Small Business Aid

The Small Business Administration is hiring companies, some with political connections, to ensure it can handle the flood of applications for help in the wake of the economy’s stall.

https://www.nytimes.com/2020/04/03/us/politics/small-business-administration-coronavirus.html

ROCKET MORTGAGE, which is getting paid to process SBA loans, is a sister company of @QuickenLoans.

* QUICKEN was sued by the DOJ for making improper loans thru @FHAgov, costing the agency $.

** Quicken agreed to pay $32.5M to settle the suit last year. https://www.nytimes.com/2020/04/03/us/politics/small-business-administration-coronavirus.html

Administration Turns to Private Firms to Help Process Small Business Aid

The Small Business Administration is hiring companies, some with political connections, to ensure it can handle the flood of applications for help in the wake of the economy’s stall.

https://www.nytimes.com/2020/04/03/us/politics/small-business-administration-coronavirus.html

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