PPP Extended; SBA Discloses Info of Large Loan Recipients

Earlier this week, the Treasury Department released data on nearly 700,000 businesses who received Paycheck Protection Program loans. The release, which was designed to head off a more aggressive effort by both Democrats and Republicans to require even more disclosure of recipients, can be viewed at this link.

Businesses that received at least $150,000 in funding are listed with their name, address, and other limited identifying information, while only broad demographical data is listed for recipients of loans of $150,000 or less.

On Monday, the Small Business Administration also began accepting additional PPP applications, following the recent extension of the program, which was originally introduced by Sen. Ben Cardin and signed by President Trump over the weekend.

Please click here for more information from the SBA about applying for a forgivable loan if you have not previously done so. Would-be borrowers can now seek out a loan through an approved SBA 7(a) lender until August 8. As of the SBA’s latest report, published on Monday, there is more than $100 billion in allocated funds still remaining to be claimed.

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