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More than half of emergency small-business funds went to larger businesses, new data shows – The Washington Post

The newly released data comes after a federal lawsuit filed by The Washington Post and 10 other news organizations under the Freedom of Information Act challenging…




According to data on the governments Paycheck Protection Program (PPP), about 600 mostly larger companies, including dozens of national chains, received the maximum amount allowed under the program of $10 million.
Officials from the Treasury Department and the Small Business Administration (SBA) have argued that the program primarily benefited smaller businesses because a vast majority of the loans more than 87 percent were for less than $150,000, as of August. But the new data shows that more than…

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