Chicago City Wire

A man accused of a North Lawndale double murder while out on bond for an attempted murder and on probation for felony heroin sales received a $21,000 PPP loan, according to a review of records from the U.S. Small Business Administration.

New Jersey-based Cross River Bank made the $20,833 Payroll Protection Program loan to Absalom Coakley on March 23, 2021.

He claimed to be the only employee of his own "performing arts" company, a sole proprietorship.

He allegedly shot one man in the head and another man in the face during a fight at a party at 3:45 a.m. in the 1300 block of South Harding in West Garfield Park.. Both men died. 

Coakley was arrested in the 300 block of West Ohio St., in River North.

In 2016, Coakley was arrested and charged with a West Garfield Park drive-by shooting and armed robbery. He posted $1,500 on a $15,000 bond and was released by Judge Joanne Rosado.

CWB Chicago reported that Coakley is "the 44th person accused of killing or shooting—or attempting to kill or shoot—someone in Chicago while awaiting trial for a felony this year."

A Chicago City Wire analysis of PPP loans found that Cross River Bank made 44,237 of them in Chicago for a total of $923,016,390. Most of them-- 95 percent-- were under $25,000. The company earned $104,720,000 in origination fees for the loans-- or a $2,500 flat fee for every loan under $50,000.

Approximately one in three West Garfield Park residents received a PPP loan for their "business," according to a Chicago City Wire report, a total of 6,282 totaling more than $120 million. The average loan was $19,119.

In Sept. 2020, Coakley sued Cook County Sheriff Tom Dart over prison conditions. He had previous arrests for making and dealing heroin, reckless conduct and keeping in contract with street gangs, according to Chicago police records.