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More than half of emergency small-business funds went to larger businesses, new data shows – The Washington Post

The newly released data comes after a federal lawsuit filed by The Washington Post and 10 other news organizations under the Freedom of Information Act challenging…

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According to data on the governments Paycheck Protection Program (PPP), about 600 mostly larger companies, including dozens of national chains, received the maximum amount allowed under the program of $10 million.
Officials from the Treasury Department and the Small Business Administration (SBA) have argued that the program primarily benefited smaller businesses because a vast majority of the loans more than 87 percent were for less than $150,000, as of August. But the new data shows that more than…

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