This loan was approved on 4/12/2020 and has been fully dispersed.
1950 Ceaser Chavez Street
San Francisco, CA 94124
Electrical Contractors and Other Wiring Installation Contractors
1950 Ceaser Chavez Street San Francisco, CA 94124
During round 1 of the paycheck protection program, Mcmillan Electric requested a PPP loan for $10,000,000.00. They were approved on 4/12/2020 by the SBA for an amount of $10,000,000.00. The loan was facillitated by Mufg Union Bank, National Association. Of the approved amount, Mcmillan Electric has received 100% of the approved amount.
According to the Philadelphia Business Journal, the owner of a Philadelphia construction company is facing fraud charges for allegedly falsifying information on a Paycheck Protection Program loan application in order to obtain nearly $1 million, which he used to purchase a variety of big-ticket items, including a new house in Florida.
The United States Attorney for the Southern District of New York, Audrey Strauss, announced today that MUGE MA, a Chinese national who lived in New York, New York, pled guilty in connection with a fraudulent scheme to obtain over $20 million in Government-guaranteed loans designed to help small businesses during the novel coronavirus/COVID-19 pandemic. MA falsely represented to the U.S. Small Business Administration (“SBA”) and at least five financial institutions that his companies, New York International Capital LLC (“NYIC”) and Hurley Human Resources LLC (“Hurley”), had hundreds of employees in connection with loan applications for relief available from the Paycheck Protection Program (“PPP”) and the Economic Injury Disaster Loan (“EIDL”) Program. MA was arrested on May 21, 2020, and has been jailed since that time. He plead guilty today in front of United States District Judge Richard M. Berman and is set to be sentenced on September 22, 2021, at 11:00 a.m.
The deadline for when the SBA will stop accepting PPP loans is rapidly approaching.