OAN Newsroom

Feds subsidize loans to posh eateries, golf courses, yacht clubs

One America News reporter Neil W. McCabe interviewed the founder and CEO of OpenTheBooks.com, Adam Andrzejewski, about his group’s five year study of Small Business Administration loans. Andrzejewski said his auditors found that millions of dollars in taxpayer subsidized loans meant for startups went to businesses that cater to the upper class, such as private beach clubs, spas, ‘members only’ golf courses, and yacht clubs. This includes subsidized loans to seven Washington restaurants ranging from $1 million to $4 million, while none of the more than 250 food trucks in the nation’s capital received any subsidized loans from the SBA.