The Latest on the Treasury decision to identify hundreds of thousands of businesses that got government support intended to soften the economic blow of the pandemic:
The Treasury Department will release the names of more than 700,000 companies that received funds from the government’s small business lending program.
That program was put into place to support businesses as states shut down in April to contain the coronavirus outbreak. The Treasury to date had identified just a fraction of all borrowers, naming only those companies that received more than $150,000.
FILE - In this June 10, 2020 file photo, Jovita Carranza, Administrator of the Small Business Administration, testifies during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, on Capitol Hill in Washington. The Treasury Department said it is releasing on Monday, July 6 the names of more than 700,000 companies that received funds from the government’s small business lending program, a massive effort intended to support the economy as states shut down in April to contain the viral outbreak. (Kevin DietschPool via AP, File)
But those firms made up less than 15% of the nearly 5 million small companies that received loans.