While many small businesses have found it difficult or impossible to get one of the Small Business Administration's Paycheck Protection Program loans, a company owned by a prominent Chicago family with close ties to the Trump administration was able to get a $5.5 million loan under the program, according to documents the company filed with the Securities and Exchange Commission on Monday.
U.S. Ambassador to Belgium Ronald Gidwitz, who was appointed in 2018, was then-candidate Donald Trump's campaign finance chair for Illinois in the 2016 presidential campaign. According to filings with the SEC, Gidwitz's family owns the majority of Continental Materials Corp., which secured the 1% interest loan.
Capitalism = Rich Get Richer, Poor Get Poorer.
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