A number of startup-backed tech startups were among companies that received loans under a program aimed at mitigating economic damage from Covid-19, according to data released Monday by the Trump Administration.
The data follows Democrats’ demands for greater 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 goal of the PPP is to offer forgivable loans to smaller companies, helping them stay afloat and employees to keep their jobs as the coronavirus halts the American economy. Companies that keep most of their payroll during the loan period can convert those funds into a grant.
While the goal of the program was to help sick companies with fewer than 500 employees, its effectiveness has not been clear. The largest and most public companies initially took advantage of freely written language to take advantage of the funds themselves.
CNBC compiled a list of technology-related startups and venture capital firms that received funds from the Paycheck Protection Program, according to the government list.
AllTurtles, an artificial intelligence startup, received between $ 350,000 and $ 1 million in loans.
Bird walks, an electric scooter starter, appears between loans between $ 5 million and $ 10 million, but the company says this is a mistake. On Twitter, CEO Travis VanderZanden explained that Citi initiated a request, but Bird decided not to, so he said they never submitted it.
Bitmovin, an online video software and infrastructure company, received between $ 350,000 and $ 1 million in loans.
Byton, an electric vehicle startup, received between $ 5 million and $ 10 million in loans.
Canoo, an electric vehicle startup, received between $ 5 million and $ 10 million in loans.
Coffee meets bagel, a dating app, received between $ 1 million and $ 2 million in loans.
Entelo, a source-to-hire recruiting automation platform, received between $ 1 million and $ 2 million in loans.
Fusion, a 3D machine learning and machine vision company, received between $ 1 million and $ 2 million in loans.
Grindr, the location-based dating and social app, received $ 1 million to $ 2 million in loans.
Karma Automotive, an electric vehicle startup, received between $ 5 million and $ 10 million in loans.
Massdrop, an e-commerce company now known for Drop, received between $ 2 million and $ 5 million in loans.
Mixpanel, which provides business analysis, received $ 5 million to $ 10 million in loans.
Mode analysis, a data platform, received between $ 2 million and $ 5 million in loans.
Nylas, a communications platform created for software developers, received between $ 1 million and $ 2 million in loans.
Omnisci, a software company, received between $ 2 million and $ 5 million in loans.
Quantcast, which helps brands advertise with its artificial intelligence technology, received between $ 5 and $ 10 million in loans.
Reputation.com, a business-to-business online reputation management company, received between $ 5 million and $ 10 million in loans.
Rescale, a cloud simulation platform, received between $ 2 million and $ 5 million in loans.
Splicing machine, a data platform, received between $ 350,000 and $ 1 million in loans.
Survata, a brand intelligence platform, received between $ 1 million and $ 2 million in loans.
Talkdesk, a cloud-based call center center, received $ 5 million to $ 10 million in loans.
Taulia, a financial technology business, received between $ 2 million and $ 5 million in loans.
Turo, a car-sharing market, received $ 5 million to $ 10 million in loans.
Zendrive, which uses data from mobile sensors to provide information that improves security, received between $ 1 and $ 2 million in loans.
Index Ventures is also on the list of loans between $ 2 and $ 5 million for its fund VIII. However, a company spokesperson said the data was wrong.
“I can confirm that Index Ventures VIII did not apply for a PPP loan at any time,” said the spokesperson. “The entry that appears in the list is an error, because although it lists us as a business name, it is not our address or correct information about our fund. Our legal team is investigating why our name appears in the list and seeks to correct it as soon as possible possible”.
[The full list is available on the Small Business Administration website, which you can access here.]To update: This story has been updated with Bird Rides’ statement that it was mistakenly listed.
Lauren Hirsch and Jacob Pramuk contributed to this report.
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