Here's who received federal bailout money and how many jobs were saved

The Trump administration on Monday disclosed the names of many small businesses which received loans under a program intended to blunt the economic damage from the coronavirus pandemic.

The disclosure comes amid demands from Democrats for more transparency around the Paycheck Protection Program, or PPP, funds established as part of the $2 trillion CARES Act, which President Donald Trump signed this spring.

Treasury Secretary Steven Mnuchin sparked an outcry from Democrats when he originally implied that the Trump administration would not disclose the names of participants. The Treasury and SBA later reversed course, saying they would disclose names and other details about businesses that took PPP loans of $150,000 and above.

Those loans represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. About 87% of the loans were for less than $150,000, according to the SBA.

Among the notable recipients are:

The law firm Boies Schiller Flexner, whose chairman David Boies has represented powerful clients such as former Vice President Al Gore in the Bush v. Gore Supreme Court case, received between $5 million and $10 million.
Transportation Secretary Elaine Chao’s family’s business, Foremost Maritime, got a loan valued at between $350,000 and $1 million. Chao is the wife of Senate Majority Leader Mitch McConnell, R-Ky.
Perdue Inc., a trucking company co-founded by Agriculture Secretary Sonny Perdue, was approved for $150,000 to $350,000 in loan money.
Restaurant chains P.F. Chang’s China Bistro and Chop’t received aid of between $5 million and $10 million.
TGI Fridays, which is backed by private equity firm TriArtisan Capital Advisors, received at least $5 million. The private equity firm tried to take the restaurant chain public in a deal with a special purpose vehicle, but that was terminated in April amid market volatility due to the pandemic.
The Archdiocese of New York got a loan valued at between $5 million and $10 million, while the Catholic Charities of the Archdioceses of San Francisco, Washington, D.C., New Orleans and Boston, among others, all received assistance valued at more than $2 million.
The Ayn Rand Institute, named for the objectivist writer cited as an influence on libertarian thought, was approved for $350,000 to $ 1 million.
Joseph Kushner Hebrew Academy in New Jersey, which is named after Trump’s son-in-law and advisor Jared Kushner’s grandfather, got a loan in the range of $1 million to $2 million. Jared Kushner’s parents’ family foundation supports the school, NBC News reported.
Niche movie theater chain Alamo Drafthouse received a loan of at least $5 million. Theaters have been closed while new film releases have been delayed or pushed to streaming platforms.
Numerous news organizations received PPP loans: Forbes Media got at least $5 million; The Washington Times got at least $1 million; The Washingtonian got at least $350,000; The Daily Caller received at least $350,000 and The Daily Caller News Foundation got at least $150,000; The American Prospect received at least $150,000.
Political organizations also received loans: The Ohio Democratic Party got at least $150,000 and the Florida Democratic Party Building Fund got at least $350,000, while the Women’s National Republican Club of New York got at least $350,000, the Black Republican Caucus in Florida got at least $150,000.


Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online

#CNBC
#CNBCTV

[thecat]

What they're not telling you is that the the businesses that received the loan still laid off workers to try and collect unemployment while they get to keep the money

[joeywitt]

Just like always Whoever needed them didn't get them and whoever didn't need them got them. (And I can't pay my bills)

[callmekrozz]

This is ridiculous. Giving out millions to the rich while normal people have to struggle. I cant eat or pay my Bill's but yet they bail out a millionaire's company 🤦🏾‍♂️

[Zanewv]

Our Wv governor millionaire Jim Justice got 11 million from the PPP and people here cant get unemployment or stimulus checks.

[josecarloszapata]

Isn’t Mr and Mrs West Billionaires?? while the ones who really needed it were screwed.

[howardkerr]

I give up, how did some businesses get these loans....WITHOUT APPLYING? And if they got " automatic loans " does this explain why businesses that wanted to apply....couldn't?

[grizzlyyou]

Wish they would give all taxpayers 2000$ a month at least for the next year or so

[becauseofkarma]

Love that they decided to air out some "dirty laundry" about time people get to see some truth!

[johnathanwalker]

Capitalism works so well the government has to subsidize it.

[Zyvo]

Yea, the US basically gave them their rent money for the next 3 months, they aren't hiring back as many people as they had because of covid restrictions and don't need that many right now because of covid. So of course you're not going to get a 100% return of employees as the buisnesses are doing buisness right, keep the building, ditch the overhead, do the work yourself in hard times.

The fact that the US allowed buisnesses that could easily stay afloat access to this money is an issue, as should have been restricted to those about to go under with books that show they did make a profit of something large enough to pay overheads before the crisis, but not enough to have rainy day money.

[antball]

Where’s my on the frontline pay at? every time we have a major crisis we bailing out companies that already have billions give us the money and we’ll decide who deserves to be bailed out time to defund this economic system and the politicians that run it I’m still trying to figure out why they get free health care but the woman and men in the trenches don’t I guess there privileged

[jasoncprince]

At the very least there needs to be public awareness of where ALL the money went and how much of it trickled down to employees.

[rowdykepley]

I think it is time to start over top to bottom get some new faces in our government not old people still holding on to the old ways

[MrLRowe]

I know so many people tried to get help. And got denied but they gave money to people telling their employees that the won't have a job in September and billionaires.

[Deuteromis]

Mt friend's mom is a 'small business owner' she owns an antique store.

A few years back she was talking to a customer about finances. She told the lady that it turns out she isn't considered a small business owner but a 'mirco business owner'

I was actually surprised by that. So I think it's micro business owners that definitely need help.

[robinperronjones]

It’s very simple, this is taxpayers funds, full accountability of all received funds for record, independent audit of how the money was used, findings released into the public domain for full disclosure. Any company found negligent legal action to recover funds. As we know this will not

[alansmith]

Preferred List = Contributors to Trump

[randyroggenbuck]

So much of this money meant for small businesses with under 25 people ended up going to some of those in government, including Senate relatives, White House relatives, and past administration official relatives. Millions were approved for them. WTF HAPPENED

[MarioLoan]

“Small business loans” went to Kane West and the biggest companies in USA XD they pulled a nice one right there

[Dewdaahman]

We'll put you out of business so you can borrow money off of us.. Who is us..?