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Treasury released names of some L.B businesses that received PPP loans

Updated: Jul 8


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.

Details:

The Treasury Department provided the names of the businesses, addresses, zip codes, some demographic information, the number of jobs retained, and type of businesses.


Notable mentions:

  • 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




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