Written by Gabriel Dillard
The U.S. Small Business Administration this week released a ton of information about its Paycheck Protection Program, which President Trump has extended until Aug. 8 with more than $100 billion remaining to be loaned.
All told, the Treasury Department’s Paycheck Protection Program authorized $520 billion for nearly 5 million mostly small businesses and nonprofits. On Monday, the government released the names and some other details of recipients who were approved for $150,000 or more.
That amounted to fewer than 15% of all borrowers. The Associated Press and other news organizations are suing the government to obtain the names of the remaining recipients, reported the AP.
The Business Journal is pouring over the nearly half million records released for California lenders, isolating loans made in Fresno, Kings, Madera and Tulare counties.
Most have no actual business names attached to the loan records.
There will be more information coming in the July 10 print edition of The Business Journal, but here are a few details we have gleaned so far:
In the City of Fresno, $216.95 million was loaned out, helping retain more than 40,000 jobs. That number was $44.24 million in Clovis, saving 7,064 jobs.
Visalia had $60.13 million loaned, saving 8,595 jobs. Hanford had $19.99 million in loans, with 2,812 jobs retained.
Madera had $22.08 million in loans, retaining 3,814 jobs.
We will have more data available in the paper Friday, including about which banks were doing the lending.