Treasury released names of some L.B businesses that received PPP loans
Updated: Jul 8, 2020
The U.S Treasury Department and Small Business Administration released the names of businesses that received $150,000 or more in Paycheck Protection Program loans.
Why it matters:
Billions of taxpayer money bailed out millions of businesses, big and small, affected by the economic fallout brought on by the coronavirus pandemic — one of the major criticisms of the Paycheck Protection Program was a lack of transparency in the names of businesses receiving federally supported loans.
The Treasury Department provided the names of the businesses, addresses, zip codes, some demographic information, the number of jobs retained, and type of businesses.
Only 37 Long Beach minority-owned businesses received PPP loans, according to data released by the SBA.
37 female-owned business received financial support from the Paycheck Protection Program loans
CSULB's Forty-Niner Shop Inc received a PPP loan between $1-2 million, the university as of 2018, has an endowment of over $77 million.
The Aquarium of the Pacific received a loan between $2-5 million
The YMCA of Greater Long Beach received a PPP loan between $2-5 million
Saint Anthony High School, a private catholic school, received between $350,000-1 million.
The Law Offices of Larry H. Parker received a PPP loan between $1-2 million.
Glen Park at Long Beach, a long term care facility with confirmed cases of coronavirus, received a PPP loan between $150,000-350,000.
: Source Treasury Department and Small Business Administration