Buffalo Businesses Got $150,000 + PPP Loans … Map Shows Which Ones
According to NBC News, there are 600,000 businesses that received $150,000 or more in PPP Loans designed to help them avoid losing employees and going out of business. The Paycheck Protection Program, or the PPP, is being criticized for helping businesses that didn't qualify as a small business. The PPP loans reportedly were implemented to help save 50 million jobs across the U.S.
The program has delivered more than $500 billion in close to 5 million loans to businesses across the United States, according to the latest report from the Small Business Administration. These loans “supported” more than 50 million jobs.
Click the link below to see which Buffalo Businesses near you received the money.
According to the NBC News article, the ZIP codes with businesses that received the most in money are:
0001, 10016, 10017, 10018, 10019, 10022, 10036, 11101, 60606 and 92618.
Just a few of the errors and complaints are as follows, according to a CNBC News report :
- Several companies that purportedly received forgivable loans as part of a government program aimed at helping small businesses said that they did not apply for — much less get.
- The venture capital firms Index Ventures and Foundation Capital, along with the scooter company Bird, said that they did not apply for the Payroll Protection Program, despite being listed in the database as having been approved for millions of dollars of funds from banks under that federally run program.
- A Wisconsin woman was incorrectly listed as having been approved for a loan worth up to $10 million. “How did that happen?” she asked when CNBC contacted her.