Trump administration releases list of companies that received most money from small business bailout loans
The Trump administration on Monday disclosed the names of many small businesses which received loans under a program intended to blunt the economic damage from the coronavirus pandemic.
The disclosure comes amid demands from Democrats for more transparency around the Paycheck Protection Program, or PPP, funds established as part of the $2 trillion CARES Act, which President Donald Trump signed this spring.
[The full list is available on the Small Business Administration website, which you can access here.]
Treasury Secretary Steven Mnuchin sparked an outcry from Democrats when he originally implied the Trump administration would not disclose the names of participants. The Treasury and SBA later reversed course, saying they would disclose names and other details about businesses that took PPP loans of $150,000 and above.
Those loans represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. About 87% of the loans …continued .
[Source: CNBC News]