Treasury Names 650K Small Businesses Receiving Government Loans

Courtesy CNN

WASHINGTON (AP) – The Treasury Department is releasing on Monday the names of more than 650,000 companies that received funds from the government’s small business lending program, a massive effort intended to support the economy as states shut down in April to contain the viral outbreak.

Treasury identified just a fraction of the total borrowers, naming only those companies that got more than $150,000.

Those firms made up less than 15% of the nearly 5 million small companies that received loans.

Though the data is incomplete, the government was able to determine that 27% of the loan money went to low- and moderate-income areas.

(Copyright 2020, The Associated Press. All Rights Reserved.)

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