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US discloses names of many paycheck protection loan borrowers - Business Insider

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Some businesses are saying they are incorrectly listed as having received a PPP loan. A senior SBA official told Business Insider that this is likely due to the lender not officially cancelling a loan after it was returned.

As of July, the program has made 4,885,388 loans totalling $521.4 billion at an average size of $106,744, according to the newly released data.

Included are company names and the categorical loan amount they each received , as well as zip codes, number of jobs supported, and other self-reported demographic data. Business names will not be revealed for companies receiving less than $150,000. Other large, private firms also received loans, according to Monday's data. Many fast-food franchisees for chains like McDonald's and Wendy's took funding, as well as smaller restaurants like Chop't salad company, PF Chang's, and Ted's Montana Grill.several large businesses said they were listed in the SBA's release but had not actually received any funding.

Still, other companies say they never even applied for PPP relief funds, while others appear in the database multiple times, raising questions about the accuracy of the SBA's release.

 

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