The Trump administration releases names of the businesses that took money from a high-profile $660 billion pandemic aid program, letting the public see for the first time how the majority of the cash was spent and whether it helped save jobs
FILE PHOTO: A woman runs past the Charging Bull sculpture in the Financial District as streets remain less busy due to the continuing outbreak of the coronavirus disease in the Manhattan borough of New York U.S., May 5, 2020 at 6:42PM. REUTERS/Lucas Jackson
The data could make life uncomfortable for borrowers that broke the spirit or letter of the rules of the program, the aim of which was to help cash-strapped companies keep workers employed, and for banks that shoveled the money out the door. Loans were capped at $10 million, although the average loan size was $107,000, the data shows. The Treasury also released aggregate data on loans below $150,000 but did not name the recipients.
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