Feds just released info on 65,000 Alabama groups that received virus stimulus money
Published 11:01 am Tuesday, July 7, 2020
The federal government released information on approximately 650,000 businesses and nonprofits that received taxpayer money from a federal virus relief program including more than 65,800 in Alabama.
The U.S. Treasury Department’s Payroll Protection Progam (PPP) aimed at helping businesses and nonprofits stay afloat and save jobs as the COVID-19 coronavirus pandemic shut down much of the country for months beginning in March.
The program was part of the $2.2 trillion CARES Act that was formalized in late March.
The feds did not release information about loans greater than $10 million, some of which came under fire when some large, publicly traded companies received backlash. Some gave the funds back.
On Monday, the names and approximate amounts of loans given to those entities were released in two groups of data – loans above $150,000 and loans less than $150,000.
Approximately 7,872 Alabama-based entities were approved for loans above $150,000.
The data released includes the names and locations of entities receiving above $150,000, but not exact amounts received, only ranges.
A much larger number, approximately 57,931, applied for and received loans of less than $150,000. The names of those entities were not released, but the exact amounts loaned were provided. They total more than $1.8 billion.
To see the information on Alabama entities receiving $150,000 or more in PPP funds, click here.
To see the information on Alabama entities receiving less than $150,000 in PPP funds, click here.