Home New loan GOP candidate’s businesses secured $ 7.8 million in pandemic loans

GOP candidate’s businesses secured $ 7.8 million in pandemic loans



LINCOLN, Neb. (AP) – Sixteen companies associated with gubernatorial candidate Republican Jim Pillen received about $ 7.8 million in federal loans during the pandemic and then repaid more than $ 5 million.

The loans were part of the paycheck protection program that was created to help businesses during the coronavirus pandemic. The Omaha World-Herald reports that 114,684 loans with a total value of $ 5.39 billion have been made to companies in Nebraska.

Documents filed with the Federal Small Business Administration show that Pillen Family Farms has secured the loans to support 1,057 jobs.

Sarah Pillen, co-CEO of the Columbus-based company, said the loans have helped the company keep employees at a time when the spread of the virus has disrupted the meat packaging industry by forcing a certain number of processing plants to be closed.

Sarah Pillen said businesses were grappling with lost revenue due to the inability to sell livestock and the ongoing costs of animal care.

Sarah Pillen said the companies repaid the $ 5.08 million they received and the loans were canceled under the terms of the program.

Gov. Pete Ricketts said businesses across the state are encouraged to apply for the loans.

“Like everyone else, the Pillens had a right to ask for this help,” Ricketts said. “I applaud them for going above and beyond and repaying a large chunk of their P3, even when most of those loans are canceled.”

The World-Herald could not find any loans linked to businesses associated with any of the other gubernatorial candidates or Ricketts.