Search for PPP loan applications by organization, lender, zip code and business type. PPP borrowers can qualify to have the loans forgiven if the proceeds are used to pay certain eligible costs. Loan Count. Those loans disclosed represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. Businesses in California ,Texas and New York that received loans reported having about 4.1 million, 2.7 million and 2 million total employees, respectively. [19]See id. PPP loan recipients can have their loans forgiven in full if the funds were used for eligible expenses and other criteria are met. Unless otherwise noted, attorneys are not certified by the Texas Board of Legal Specialization, nor can NLR attest to the accuracy of any notation of Legal Specialization or other Professional Credentials. Some other well-known fashion and retail names whose businesses were pummeled by store shutdowns were also approved for loans. This directory is composed of all companies that have received loans under the Paycheck Protections Program according to data provided by the U.S. Treasury. The Treasury Department identified just a fraction of the total borrowers Monday, naming only companies that got more than $150,000. Chang's, which has more than 210 restaurants around the country, was approved for between $5 million and $10 million from the PPP program, according to the government data. PPP borrowers may be subject to increased liability in courts of law and the court of public opinion: journalists and other watchdogs will certainly dig through the information to find borrowers they deem unworthy of the funds. [6] For example, on 15 May 2020, DOJ reportedly issued grand jury subpoenas to several of the largest PPP lenders as part of a comprehensive investigation into potential fraud and abuse related to the PPP, including by borrowers. Among the Trump-linked churches that received PPP loans was First Baptist Dallas, the Texas megachurch where senior pastor and White House ally Robert Jeffress hosted Vice President Mike Pence for a pre-July 4 service. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. Those loans, however, accounted for only 27.2% of the $521.5 billion in loans approved. Yeezy, best known for its $250 sneakers, just announced a major deal with Gap that will have the rap superstar designing hoodies and T-shirts to be sold in the chain's 1,100 stores around the world. The private equity firm. Admin., Paycheck Protection Program Loans Frequently Asked Questions (FAQs), at 39 (May 27, 2020),https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf[hereinafter PPP FAQs]. The dampened demand was also attributed to concerns about the rules for loan forgiveness. What happens to First Republic Bank's stock and deposits now? Relators counsel, armed with PPP recipient names and general loan amounts, may also seek out recently laid-off employees until they find a willing relator. Thursday's order requires the SBA to be more specific. The Trump administration on Monday disclosed the names of many small businesses which received loans under a program intended to blunt the economic damage from the coronavirus pandemic. Data is a real-time snapshot *Data is delayed at least 15 minutes. NLR does not answer legal questions nor will we refer you to an attorney or other professional if you request such information from us. Larger and public companies initially took advantage of loosely written language to tap the funds for themselves. He has represented both individuals and companies in investigations involving the Department of Justice, U.S. [16] U.S. Small Bus. The disclosure comes amid demands from Democrats for more transparency around the Paycheck Protection Program, or PPP, funds established as part of the $2 trillion CARES Act, which President Donald Trump signed this spring. SBA and Treasury to release names of largest PPP loan recipients. The SBA had. Qui tam FCA suits are frequently brought by former employees, who may be more incentivized to bring suit against a former employer after learning the amount of assistance the employer received under the PPP. Among industries, health care received the most money $67.4 billion while professional, scientific, and technical services received the largest number of loans, 638,221. The program provided loans of up to $10 million for small businesses to help them recover from the government-ordered shutdowns and revenue losses caused by the virus. The state with the highest percentage of loan support is Florida, while Virginia has the lowest percentage of loans covered. To advance transparency regarding public funds, Pioneer Institute developed this Paycheck Protection Plan Loan Tracker. [17] U.S. Small Bus. The data release includes 5.14 million loan records originated in 2020 and another 6.63 million loans made in 2021, according to a Business Journals analysis of the PPP loan recipient data, which . Treasury Secretary Steven Mnuchin sparked an outcry from Democratswhenheoriginallyimplied that theTrump administration would not disclose the names of participants. The content and links on www.NatLawReview.comare intended for general information purposes only. We also have compiled state-by-state files for download. LIST OF ALL PPP LOANS IN Virginia. AICPA experts discuss the latest on the PPP and other small business aid programs during a weekly virtual town hall. Employers added 7.5 million jobs inMay and June, a solid increase that was probably driven in part by the PPP. Todays release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors., The PPP is an indisputable success for small businesses, especially to the communities in which these employers serve as the main job creators, said Administrator Jovita Carranza. Our SBA database unveils list of 6.6M recipients. Mr. Rybicki recently served in the Criminal Division of the United States Department of Justice in Washington, D.C., as Acting Principal Deputy Assistant Attorney General (2017) and Deputy Assistant Attorney General (2017-2020), the second- and third-highest ranking positions in the division. Numerous news organizations received PPP loans: Forbes Media got at least $5 million; The Washington Times got at least $1 million; The Washingtonian got at least $350,000; The Daily Caller received at least $350,000 and The Daily Caller News Foundation got at least $150,000; The American Prospect received at least $150,000. He is a member of the health care/FDA practice group. Adams Communication & Engineering Technology, Inc. Professional, Scientific, and Technical Services, Data Processing, Hosting, and Related Services, Other Services (except Public Administration), Truist Bank d/b/a Branch Banking & Trust Co, Offices of Physicians (except Mental Health Specialists), JPMorgan Chase Bank, National Association, All Other Professional, Scientific, and Technical Services, Chesapeake Bay Seafood House Associates, LLC, Residential Intellectual and Developmental Disability Facilities, Other Scientific and Technical Consulting Services, Power, Distribution, and Specialty Transformer Manufacturing, Evms Academic Physicians And Surgeons Health Services Foundation, F. H. Furr Plumbing, Heating & Air Conditioning, Inc, Plumbing, Heating, and Air-Conditioning Contractors, Internet Publishing and Broadcasting and Web Search Portals, Administrative Management and General Management Consulting Services, Administrative and Support and Waste Management and Remediation Services, Newport News Shipbuilding Empl CU Inc d/b/a BayPort CU, Professional and Management Development Training, Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing. Armed with information specific to borrowers and industries, OIGs of other executive agencies may also launch industry-wide investigations into the use of PPP funds. In these roles, Mr. Rybicki supervised some of the nations most significant investigations and prosecutions involving white collar crime, money Laura Musselman is an associate in the firms Charleston office, where her practice focuses on white collar investigations and defense and complex commercial litigation. As of Jun 30th, 2020. 9 AVG COMPANY SIZE. Senate Democratic leader Chuck Schumer described the data release as a "good start" but lamented that it took so long and "so much pressure from Democrats" to make the information public. Chao is the wife of Senate Majority Leader Mitch McConnell, R-Ky. Perdue Inc., a trucking company co-founded by Agriculture Secretary Sonny Perdue, was approved for $150,000 to $350,000 in loan money. Get this delivered to your inbox, and more info about our products and services. Leases standard: Tackling implementation and beyond. The SBA and Treasury also published data for recipients of PPP loans less than $150,000 but did not reveal the names and addresses of those businesses. The economy still has nearly 15 million fewer jobs than before the pandemic. 24, 2020),http://www.klgateshub.com/details/?pub=COVID-19-HHS-Announces-Remaining-Allocations-of-CARES-Act-Provider-Relief-Funding-and-Updates-Funding-Terms-and-Conditions-04-23-2020. As of August 8, 2020, after cancellations, SBA had approved 5.2 million PPP loans totaling $525 billion. Where loans of more than $150,000 were issued Circles are . We've included details about this below. Dallas-based TGI Fridays, which has around 500 restaurants nationwide, obtained between $5 million and $10 million in loans from the program. Under certain state laws the following statements may be required on this website and we have included them in order to be in full compliance with these rules. Chang's China Bistro and Chop't received aid of between $5 million and $10 million. Californias Workplace Violence Bill Heavily Amended for Virtually Insurance Coverage Under Umbrella Policy Extends Beyond Requirements TripAdvisor Suit Invites Delaware To Become The Hotel California, Washingtons Governor Signs New Health Data Privacy Act. $17.9B TOTAL LOAN AMOUNT. The bill Congress passed to replenish the program in April included $60 billion specifically for small lenders in response to concerns about businesses without a traditional banking relationship accessing loans. On 19 June 2020, in a major reversal of the U.S. Department of the Treasurys (Treasury) previous position, the U.S. Small Business Administration (SBA) and Treasury announced that they will publicize additional data regarding the Paycheck Protection Program (PPP), including the identity of PPP recipients and the dollar amount range of the loan received. As of June 30, the program had handed out $521 billion. WASHINGTON - The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). Legal Statement. That amounts to about 85% of all workers at companies with fewer than 500 employees. Businesses with more than 500 employees in certain industries also can apply for loans. 1 of 20. The National Law Review - National Law Forum LLC 3 Grant Square #141 Hinsdale, IL 60521 Telephone (708) 357-3317 ortollfree(877)357-3317. More than 40% of Black small business owners wereforced to close shop as result of the pandemic. The public may never know the identity of more than 80% of the nearly 5 million beneficiaries to date because the administration has refused to release details on loans under $150,000. The program's critics have expressed concern that the amount of untapped funds could show that rural or minority-owned businesses with weaker or no banking relationships have had trouble accessing relief money. High-profile evangelical megachurches, including several with pastors who have backed Trump, also received loans after religious entities were permitted to seek aid even if they performed only faith-based functions. According to this data, from the Small Business Administration, 18,177 Massachusetts small businesses received PPP loans, which the companies claim retained 738,613 jobs. Reg. This website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. Nearly 600 asset management companies and private equity firms were approved for money from the PPP, according to government data. Hubwonk host Host Joe Selvaggi talks with Pioneer Institutes Senior Fellow Dr. Bill Smith about new evidence that during the past two years of the pandemic, there were as many unseen excess deaths from non-Covid-related diseases as seen from Covid. The program has about $132 billion in funding remaining. In the face of Freedom of Information Act requests for such information, however, specific loan amounts likely will not remain confidential for long.