U.S. Treasury to name small businesses that took pandemic aid, says 51.1 million jobs supported
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Source: Reuters
WASHINGTON (Reuters) - The Trump administration on Monday said it was releasing the names of hundreds of thousands of businesses which took money from a high-profile $660 billion pandemic aid program, letting the public see for the first time how the majority of the cash was spent and whether it helped save jobs.
The U.S. Treasury and Small Business Administration (SBA) said the $521.4 billion in approved loans to employers so far has supported some 51.1 million jobs, or 84% of all small business employees.
The colossal data set on the Paycheck Protection Program (PPP), released by the Trump administration after some initial resistance, provides transparency for the first-come-first-served program that has been dogged by technology, paperwork and fairness issues.
To date, the SBA has released broad distribution figures for states, industries and the largest lenders. But the new data should paint a much more detailed picture of which local communities and sub-sectors received support and whether it helped save jobs.
Read more: https://www.msn.com/en-us/money/smallbusiness/us-treasury-names-small-businesses-that-took-pandemic-aid-says-511-million-jobs-supported/ar-BB16oNLC?li=BBnb7Kz
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