Paycheck Protection Program reopens to applicants with $132B left over

Senior Advisor to the President Jared Kushner looks on during a roundtable at the Ford Rawsonville Plant in Ypsilanti Michigan

$7.3B approved in Louisiana under Paycheck Protection Program

Some other well-known fashion and retail names whose businesses were pummeled by store shutdowns were also approved for loans. The SBA did not release the names of those companies.

The searchable database below shows 52 borrowers were approved for loan amounts between $5 million and $10 million, including Frisch's Restaurants Inc., JTM Provisions Inc., LCA Vision Inc. and the Diocese of Covington.

The loans went to both rural and urban areas, officials said, supporting businesses that, as of the time of their application, reported employing more than 51 million people.

Perhaps strangest of all, three Church of Scientology locations got loans of between $150,000 and $350,000.

Despite its success, the PPP program has proved controversial.

Online lenders which often offer to consolidate loans in return for high fees also took government loans. "Today's data shows that small businesses of all types and across all industries benefited from this unprecedented program", said Small Business Administration chief Jovita Carranza.

The list, released by the US Treasury Department, reignited debate about the controversial programme, called the Paycheck Protection Program (PPP).

Public companies typically had to disclose in regulatory filings whether or not they had received a loan through the government-aid program. The administration relented after demands from lawmakers and agreed to release certain information while withholding other details. It can be filtered by city, business name or loan amount.

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The new SBA data doesn't answer them.

Forgiveness on those loans will diminish or disappear if "full-time headcount declines, or if salaries and wages decrease", according to the SBA website.

The release of PPP loan data comes after several national media outlets including the Wall Street Journal sued the Trump administration for its initial refusal to release the federal loan information to the public.

RJ Karney, Director of Congressional Relations with the American Farm Bureau Federation, talks about why the Paycheck Protection Program is important for farmers.

Built Brands confirmed Monday that it received the loan but did not provide any additional information about how it used the federal funds.

The Ayn Rand Institute received a loan between $350,000 and $1m, to retain 35 jobs, while Grover Norquist's Americans for Tax Reform Foundation received $150,000-$300,000 for 33 jobs. For loans over $150,000, the bank made 116 followed by Columbia State Bank, which made 52. The SBA, which is administering the program, will forgive loans to businesses that retain employees and use the funds according to guidelines. And JPMorgan is among the lenders, also including Bank of America and Wells Fargo, that plan to donate the fees.

Demand was so great that a first infusion of $349 billion ran out in just two weeks.

The program, a rescue fund established by Congress with the passage of the $2.2 trillion CARES Act at the end of March, was supposed to stop accepting applications on June 30.

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