Quick Answer: How Many Big Companies Got PPP Loans?

Can I get more PPP funding?

Partnerships and seasonal employers may not have received the full amount of Paycheck Protection Program funds for which they are eligible, and may apply for additional funds, according to a new rule issued by the SBA.

But they will need to act quickly..

What large companies got PPP loans?

Top 20 Public Companies That Received PPP LoansCompanyTickerPPP LoanShake Shack Inc.NYSE:SHAK$10.0MiMedx Group Inc.OTCPK:MDXG$10.0CalAmp Corp.NASDAQ:CAMP$10.0Fiesta Restaurant Group Inc.NASDAQ:FRGI$10.016 more rows•Apr 24, 2020

Did big companies get PPP loans?

After large businesses were revealed to have taken PPP money, Treasury Secretary Steven Mnuchin said in late April that the SBA would conduct a “full review” of each PPP loan of $2 million and up. As of last week, about 29,000 such loans had been made.

Who got the biggest PPP loan?

Restaurants. Restaurants were among the businesses hardest hit by the pandemic, and 3,242 of them were approved for loans greater than $1 million. This included larger restaurant chains such as P.F. Chang’s China Bistro Inc. and TGI Friday’s Inc., which both received loans greater than $5 million.

Who took PPP loans?

Danny Meyer Took PPP Loans After All. And He’s Not Apologizing. Meyer’s restaurant empire got at least $11 million from the government, just weeks after Shake Shack’s PPP loan controversy.

Is there any PPP money left?

There’s about $130 billion left in the PPP pot. … It took less than two weeks for the Paycheck Protection Program to run out of funds when it first opened to small businesses on April 3. Since the pot was replenished on April 27 with $310 billion, firms have been slow to take the cash. There’s still plenty of money left.

Are small businesses getting PPP loans?

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. Click here to read more about PPP loan forgiveness.

How many businesses got PPP loans?

Nearly 5 million businesses have gotten $518 billion in cumulative PPP funding, with an average loan of $105,000, according to the SBA. Another $135 billion was issued through the disaster loan program, with an average loan of about $60,000.

Can you see what companies got PPP?

The ProPublica tool offers four ways to sift through PPP loan data. You can search by organization, lender, zip code, or business type. The PPP is part of the CARES Act, which passed in response to the coronavirus pandemic. The PPP has made $659 billion available for low-interest small business loans.

Is there a second PPP loan for small businesses?

HEALS Act: You Could Get A Second PPP Loan Under The Next Stimulus. A new bill introduced this week would allow eligible small businesses to apply for a second Paycheck Protection Program (PPP) loan.

Are PPP loans free money?

Initially, most business owners probably think that of course they’ll apply for a PPP loan. It’s free money if you qualify for forgiveness, after all. But after more consideration, some decided to pass. One reason was the fact that the loan provided funds to cover payroll for only eight weeks.