The Paycheck Protection Program, or PPP, criticized for helping many who don’t qualify as a small business, this month named all of its large dollar loan recipients.
The program has awarded more than $ 500 billion in nearly 5 million loans to companies across the United States, according to the latest report from the Small Business Administration. These loans “backed” more than 50 million jobs.
The program, part of the $ 2 trillion Coronavirus Aid, Relief and Economic Security Act, or the CARES Act, aimed to help small businesses stay afloat during the pandemic. Since its launch, the program has withstood more than one controversy, including the closure of neglected communities and businesses.
Of the nearly 5 million loans, more than 4 million were for less than $ 150,000. Those loans made up less than $ 150 billion of the $ 500 billion awarded. The Treasury Department released more detailed records of the companies that received more than that, and those companies are detailed below. The data is not without its flaws: Some companies are reported to have received money that they did not actually get and did not request.
