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#1 2024-01-07 06:12:04
- Loohan
- Administrator
- Registered: 2014-10-31
- Posts: 30,705
Federal Reserve at work
A few minutes ago a plane roared by with an awful Egyptoid vibe, call numbers KA73 LLC, LITTLE ROCK. Going from LR to Sioux Falls.
I googled KA73 LLC, LITTLE ROCK. All I could find other than the plane registration was LR POB address and this
COVID Stimulus Watch Individual Entry
https://data.covidstimuluswatch.org/ind … d/ka73-llc
Recipient Company:
KA73, LLC
Loan or Loan Guarantee Amount:
$148,000,000
Recipient Details
Ownership Structure: privately held
Facility City: Little Rock
Facility State: ARAward Details
Award Date: Dec 29, 2020
Award Type: loan
Award Details: Amount is principal amount of loan purchased by the Main Street Loan Program
PPP Lender: Generations Bank
Program Name: Main Street Loan Program
Legislation: CARES
Awarding Agency: Federal Reserve
Looking up Main Street Loan Program
https://www.federalreserve.gov/monetary … ending.htm
That page is pretty dry but according to other items coming up in Google, this program is no longer available:
Of the 1,830 loans made through the program, 1,453 loans remained outstanding as of the end of September 2022, the most recent data available (see figure). Since required interest payments began in August 2021, most borrowers have been making them on time. Dec 19, 2022
The Main Street Lending Program targeted small and mid-sized businesses and nonprofits. Since the program ended in January 2021, borrowers have generally made scheduled payments on-time. As of August 2023, about 64% of program loans—roughly $11.3 billion—remain outstanding.
Main Street Lending Program: What It is, How It Works
By Mark Kolakowski
Updated September 19, 2023
https://www.investopedia.com/main-stree … am-4802310
The program made available $600 billion in loan facilities to employers, who must have been in good financial standing prior to the onset of the COVID-19 crisis...To have been eligible, a business must have met requirements that included the following:
It was a U.S. company established before March 13, 2020
It had either fewer than 15,000 workers or $5 billion or less in 2019 revenue ...Expansion to Include Nonprofit Organizations
On July 17, 2020, the Fed expanded the program to include nonprofit organizations.7
To have been eligible, the nonprofit must have met the following requirements:
It was a 501(c)(3) or 501(c)(19) in continuous operation since Jan. 1, 2015 ...
Anyway, maybe i'm just weird but how does an entity with such a cryptic name, no street address, and virtually no online mention merit a low interest loan in the amount of 148 million?
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