RICHMOND, Va. (WAVY) – The U.S. Small Business Administration on Monday released the names of employers which have received loans through the federal Paycheck Protection Program (PPP).
Monday was the same day the PPP resumed accepting applications. The new deadline to apply for the extended loan program is August 8, 2020.
The SBA data was released under pressure from Congress to provide an accounting for the $669 billion forgivable loan program.
The PPP was created as part of the federal CARES Act, the massive economic rescue package that Congress passed in March to try and protect the economy from the effects of the COVID-19 pandemic. The program has been extended and altered in additional legislation since then.
According to the data, 17 businesses in Hampton Roads received the largest PPP loans, which are worth $5 million to $10 million.
You can access additional Paycheck Protection Program data here.