Legal Statement. While the aim of the program was to aid ailing companies with less than 500 employees, its effectiveness has remained unclear. Chao is the wife of Senate Majority Leader Mitch McConnell, R-Ky. Perdue Inc., a trucking company co-founded by Agriculture Secretary Sonny Perdue, was approved for $150,000 to $350,000 in loan money. Chang's China Bistro and Chop't received aid of between $5 million and $10 million. He is a member of the health care/FDA practice group. $350,000$1 million; Rep VickyHartzler, R-Mo., on Thursday disclosed that her family's businesses received nearly $480,000. Copyright 2022 PPP Directory. Economists generally credit the program with helping prevent the job market meltdown from being much worse. The National Law Review - National Law Forum LLC 3 Grant Square #141 Hinsdale, IL 60521 Telephone (708) 357-3317 ortollfree(877)357-3317. Off. As of June 30, the program had handed out $521 billion. The construction, manufacturing, accommodation and food services, and retail sectors each received more than $40 billion in loans. Congress created the PPP as part of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. Not sure where to start? Loan Business Location Jobs Retained Loan Approved NAICS Description; $5-10 million: ABC Imaging Of Washington, Inc. Alexandria, VA 22312: 463: . Unless otherwise noted, attorneys are not certified by the Texas Board of Legal Specialization, nor can NLR attest to the accuracy of any notation of Legal Specialization or other Professional Credentials. The bill Congress passed to replenish the program in April included $60 billion specifically for small lenders in response to concerns about businesses without a traditional banking relationship accessing loans. We also have compiled state-by-state files for download. In 2014, TGI Fridays was bought by the the New York private equity firm TriArtisan Capital Advisors. The Treasury Department and Small Business Administration on Monday disclosed the names of businesses to whom they have lent more than $150,000 as part of the Paycheck Protection Program. A survey by the National Federation of Independent Business found that as of mid-June, 14% of small businesses that borrowed from the PPP expected they would have to lay off some workers when their loan ran out. P.F. SBA OIG provided PPP loan data to Treasury's DNP team that used SBA business rules for PPP eligibility to analyze the data. SBA and Treasury have not yet announced when they will publish this information. 9, 2020),http://www.klgates.com/covid-19-looming-false-claims-act-liability-for-paycheck-protection-program-loans-04-09-2020/. Virtual learning in K-12 education continues to grow due to the health threat caused by coronavirus variants and the assistance this learning model can provide to at-risk students, according to two papers released today by Pioneer Institute. PPP 2.0 New Round & Second-Draw Details, # 1PATRIOT LAND BUILDING MAINTENANCE LCC, #1 A ADVANCED INTERNATIONAL HOME CARE LLC. Loan Count. Qui tam FCA suits are frequently brought by former employees, who may be more incentivized to bring suit against a former employer after learning the amount of assistance the employer received under the PPP. Employers added 7.5 million jobs inMay and June, a solid increase that was probably driven in part by the PPP. However, the amount of loan forgiveness will be reduced if less than 60% of the funds are spent on payroll over a loan forgiveness period of either eight weeks or 24 weeks. The average loan size is approximately $100,000, demonstrating that the program is serving the smallest of businesses, he continued. See the guide The data released Monday provides the following details for all of the nearly 4.9 million PPP loans: North American Industry Classification System (NAICS) codes, ZIP codes, business type, demographic data, not-for-profit information, and jobs supported. #1 A NORTHWEST SENIOR IN HOME CARE SERVICES INC. California Residents: Do Not Sell My Personal Information. Admin., Interim Final Rule, Business Loan Program Temporary Changes; Paycheck Protection ProgramSBA Loan Review Procedures and Related Borrower and Lender Responsibilities s, 85 Fed. Trump on Saturday signed the extension into law. Theaters have been closed while new film releases have been delayed or pushed to streaming platforms. [1] Press Release, U.S. Dept of the Treas., SBA and Treasury Announce Enhanced Transparency Regarding the Paycheck Protection Program (June 19, 2020),https://home.treasury.gov/news/press-releases/sm1041[hereinafter Press Release]. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. A spokesperson for the Agriculture Department said Perdue Inc., a trucking service, said the loan was for about $182,000 and supported 27 jobs. News provided by The Associated Press. [17] While SBA has agreed not to refer a borrower who repays its loan to law enforcement if SBA determines in the course of its review that a borrower lacked an adequate basis for the necessity certification, [18] SBA may pursue monetary penalties and refer the matter to DOJ for criminal prosecution or civil FCA enforcement for errors or misrepresentations unrelated to the necessity certification. This company embraced the coronavirus economy and now it is hiring workers. The SBA and Treasury also published data for recipients of PPP loans less than $150,000 but did not reveal the names and addresses of those businesses. Though the PPP program was designed to help small businesses, big hotel and restaurant chains were also allowed to apply. In addition, the data provides information regarding the sizes of participating lenders and participation by community development financial institutions, minority depository institutions, Farm Credit System institutions, fintechs and other nonbanks, and other types of lenders. Potomac Conference Corporation Of Seventh-Day Adventists, POTOMAC CONFERENCE CORPORATION OF SEVENTH-DAY ADVENTISTS, Potomac Family Dining Group Operating Company, LLC, Electrical Contractors and Other Wiring Installation Contractors, Commercial and Institutional Building Construction, Postharvest Crop Activities (except Cotton Ginning), Agriculture, Forestry, Fishing and Hunting, Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology). [3]. Home; Search PPP Database; Database of All PPP Loans in the United States. Some other well-known fashion and retail names whose businesses were pummeled by store shutdowns were also approved for loans. The public release of borrower information may also assist aggressive relators counsel in identifying potential targets for qui tam suits. The National Law Review is not a law firm nor is www.NatLawReview.com intended to be a referral service for attorneys and/or other professionals. Lawmakers have also pushed to find out if politicians or their families' have taken on funds from the program. ineligible loan applicants. He called the program "a historic lifeline" for small businesses during the pandemic. Companies said that the funding supported more than 51 million jobs. As of Jun 30th, 2020. Some major supporters of Trump also benefited. Justice, a Republican, is considered to be West Virginia's richest person through his ownership of dozens of coal and agricultural businesses, many of which have been sued for unpaid debts. Senior administration officials who briefed reporters before the release said they hoped to get more information when owners submit applications for loan forgiveness over the next few months. Mr. Rybicki recently served in the Criminal Division of the United States Department of Justice in Washington, D.C., as Acting Principal Deputy Assistant Attorney General (2017) and Deputy Assistant Attorney General (2017-2020), the second- and third-highest ranking positions in the division. The SBA PPP loan recipient list includes more than 11.7 million loans made in the nearly $800 . var divElement = document.getElementById('viz1594129907402'); var vizElement = divElement.getElementsByTagName('object')[0]; if ( divElement.offsetWidth > 800 ) { vizElement.style.width='1000px';vizElement.style.height='850px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='1000px';vizElement.style.height='850px';} else { vizElement.style.width='100%';vizElement.style.height='850px';} var scriptElement = document.createElement('script'); scriptElement.src = 'https://public.tableau.com/javascripts/api/viz_v1.js'; vizElement.parentNode.insertBefore(scriptElement, vizElement); document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); A new report from Reason Foundation, Cicero Institute and Pioneer Institute rates every states telehealth policy for patient access and ease of providing virtual care. Select Different Area . 9 AVG COMPANY SIZE. In an 18-page report, the SBA and Treasury revealed that 86.5% of PPP loans were for less than $150,000. The Americans for Tax Reform Foundation, the nonprofit arm of the anti-tax lobbying group Americans for Tax Reform, was approved for a loan of up to $350,000. PPP Loan Recipient List By State Iowa 171,714 TOTAL PPP LOANS $8.1B TOTAL LOAN AMOUNT $47,082 AVERAGE PPP LOAN 5 AVG COMPANY SIZE Iowa has a total of 171,714 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. Congress then approved another $310 billion in funding for the program, but demand for the loans fell after public backlash prompted several businesses to return their PPP loans. Hubwonk host Joe Selvaggi talks with Pioneer Senior Fellow in Healthcare Josh Archambault about his newest research paper, produced with the Cicero Institute and the Reason Foundation, on states' success in implementing telehealth to improve healthcare outcomes. The program's critics have expressed concern that the amount of untapped funds could show that rural or minority-owned businesses with weaker or no banking relationships have had trouble accessing relief money. In total, over 79,000 businesses in Mississippi have been approved for PPP loans. The loans have reached diverse communities proportionally, across all income levels and demographics. The program launched in early April with $349 billion in funding that was exhausted in less than two weeks by businesses and other entities seeking funds to help cope with the economic impacts of the COVID-19 pandemic. For all loans below $150,000, SBA is releasing all of the above information except for business names and addresses. Todays release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors., The PPP is an indisputable success for small businesses, especially to the communities in which these employers serve as the main job creators, said Administrator Jovita Carranza. Todays data shows that small businesses of all types and across all industries benefited from this unprecedented program. This site uses cookies to store information on your computer. We are particularly pleased that 27% of the programs reach in low and moderate income communities which is in proportion to percentage of population in these areas. By clicking "continue" and using this site, you acknowledge that you have read and understand this message.
