Over 600,000 businesses have obtained PPP loans over $ 150,000. Here are those near you who received them.
The Paycheck Protection Program, or PPP, criticized for helping many people who are not considered small businesses, this month named all of its major loan recipients.
The program has provided more than $ 500 billion in nearly $ 5 million in loans to businesses across the United States, according to the latest report from the Small Business Administration. These loans have “supported” more than 50 million jobs.
The program, which is part of the $ 2,000 billion Coronavirus Aid, Relief and Economic Security Act, or the CARES Act, aimed at helping small businesses stay afloat during the pandemic. Since its inception, the program has withstood more than a controversial, including exclusion of underserved communities and businesses.
Of the nearly $ 5 million in loans, more than $ 4 million were less than $ 150,000. These loans represented less than $ 150 billion of the $ 500 billion granted. The Treasury Department has released more detailed records of companies that received more than that, and those companies are listed below. The data is not without errors: Some companies reportedly received money that they did not get and did not ask for..
More than 660,000 companies have been listed by the Treasury Department in those data. Of these companies, approximately 90,000 were marked as having no jobs or left the field blank. Based on the PPP loan application form posted on the SBA website, companies are not required to report the number of jobs retained when applying for the loan. The accuracy of job retention figures can vary widely.