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Kodak’s $765 Million Government Loan on Hold Pending Probe

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Photographer: Mike Bradley/Bloomberg

The federal agency that announced a $765 million loan to Eastman Kodak Co. less than two weeks ago said the offer is on hold pending probes into allegations of wrongdoing.

“Recent allegations of wrongdoing raise serious concerns,” the U.S. International Development Finance Corporation said in a tweet Friday night. “We will not proceed any further unless these allegations are cleared.” Congress and the Securities and Exchange Commission are investigating the deal, and Kodak’s board said Friday it is also opening a review of the loan disclosure.