this coming a mile away:

Many of the loans intended to boost economic recovery following the 9/11 terrorist attacks actually went to small businesses that did not qualify, according to an internal Small Business Administration report.

The report, released by the SBA’s inspector general on Wednesday, found that only nine of 59 loan recipients that were sampled showed the attacks “adversely affected” them, which was a requirement to receive a loan under the Supplemental Terrorist Activity Relief (STAR) program. Roughly 85% of the loan recipients in the report did not justify that the attacks hurt them, and many recipients did not even know that the loans were part of a program aimed at providing 9/11 relief, the report said.

Congress authorized the STAR program in the aftermath of 9/11, setting aside up to $4.5 billion in loans to be given by private lenders to small businesses. To become eligible for the loans, small businesses had to show that they were that were “adversely affected,” and the lenders would have to document exactly how they were impacted. Congress put the program under the purview of the SBA, which would guarantee up to 85% of each STAR loan.

More than 7,000 small businesses received STAR loans. Some of those loan recipients included a South Dakota radio station, a Virgin Islands perfume shop and more than 100 Dunkin’ Donuts and Subway shops, according to the Associated Press.

Billions of dollars. Congress. 9/11. Complicated buereacracy.

Shit, your neighborhood drug dealer probably got a loan….]]>