The Trump Administration has finally released the Paycheck Protection Program loan recipients by theothersarahh
of businesses Monday that received loans of more than $150,000 under the Paycheck Protection Program, in a data dump that came after weeks of pressure from government watchdogs, Democrats and media organizations calling for more transparency into the massive federal relief spending intended to prop up the economy during the worst of the coronavirus slowdown. ... [+]AFP via Getty ImagesMore than 660,000 small businesses received loans of more than $150,000, according to the data.
For loans above that threshold, the SBA grouped borrowers into five categories ranging from $150,000-$350,000 to $5-$10 million rather than disclosing specific loan amounts. The SBA also released information—including specific loans amounts, though not including individual names—about borrowers who received loans of less than $150,000.
Also absent is data related to businesses that received loans of more than $10 million, like Ruth’s Hospitality Group, owner of Ruth’s Chris Steak House, which in Aprila $20 million PPP loan after a bitter public backlash over publicly traded companies receiving multimillion-dollar loans while mom-and-pop shops were shut out of the program entirely in its early days.
Releasing the data to the public is a reversal of the Trump administration’s earlier stance on the issue; Treasury Secretary Steven Mnuchin said last month that that it considered the loan information to be
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