7/6, 6:03 PM (Source: TeleTrader)
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US Treasury reveals partial list of PPP loans

United States Treasury Department and Small Business Administration (SBA) revealed on Monday a partial list of companies that have received loans through the Paycheck Protection Program (PPP), the relief scheme for businesses negatively affected by the coronavirus pandemic.

According to the list published by the SBA, the administration approved 4.9 million loans worth more than $521 billion, with an average grant being $107,000. It unveiled nearly three-fourths of the total amount given in grants, but a smaller number of companies that received them.

This move comes after President Donald Trump's administration received criticism over "hiding" the data on the program, after which Treasury Secretary Steven Mnuchin confirmed certain information will be revealed.

Breaking the News / JR