A person close to the board said Tyco had paid for the $18.5 million Fifth Avenue apartment Mr. Kozlowski bought in 2000, and investigators said Mr. Kozlowski used a company loan program to buy the artwork.
However, 137 of those banks used a government-loan program to repay their taxpayer debts, according to the watchdog's quarterly report to Congress.
Then a developer, Blue Horizon Energy, made a proposal: Grandview Tire and Auto, using a new loan program, could borrow the $34,000 to install the system and pay it back over 10 years, but instead of making traditional loan payments, they would be made through his property taxes.
BEHIND THE NEWS Two options being discussed include making the carmakers' financing arms eligible to take part in the Treasury's $700 billion bailout program, originally intended mainly for banks and other financial institutions, or using a $25 billion loan program recently created by Congress to help them modernize plants.
How about a loan program for them, Mr. Dimon?
I used their loan program.
"It turns, potentially, a nonstarter into an economically interesting proposition," said Kenneth W. Hansen, a lawyer at Chadbourne & Parke who leads its practice using the energy loan program.
However, Democratic lawmakers have balked at using that loan program for anything other than to encourage the development of cleaner cars and trucks.
Along with the Treasury money, GMAC also used emergency loan programs run by the Federal Reserve and the Federal Deposit Insurance Corporation.
The award, according to the nomination guidelines, recognizes "lenders that have used S.B.A. loan programs to help the maximum number of small-business owners obtain financing that they need to grow their businesses".
