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Big Business and the PPP

Submitted by pmattera on Thu, 07/30/2020 - 17:40
By now it is clear that the recipients of Paycheck Protection Program loans were often companies larger than the mom-and-pop operations we were led to believe would be the main beneficiaries. A closer examination of the data shows assistance going not just to mid-sized companies but also to portions of Big Business.

Covid Stimulus Watch Adds $60 Billion in Economic Injury Disaster Loans

Submitted by mellissa on Wed, 07/29/2020 - 17:03

By Mellissa Chang

Covid Stimulus Watch now contains award information for almost 400,000 Economic Injury Disaster Loan (EIDL) payments from the CARES Act, amounting to more than $60 billion in loans. To date, the Small Business Administration has approved approximately $164 billion in EIDL loans, roughly half of its $360 billion allocation, to almost 3 million business. Of these loans, 80% were less than $150,000 and the average loan amount was just over $62,000.

Due to the high volume of loans and the relatively small size of most loan amounts, the Covid Stimulus Watch database only

Foreign-Owned Regulatory Violators Found Among PPP Recipients

Submitted by pmattera on Thu, 07/23/2020 - 16:01
The massive Paycheck Protection Program was depicted as a necessary measure to save American small businesses, yet the list of recipients of the forgivable loans released by the Treasury Department contains numerous companies that are neither small nor American.

Double-Dipping by PPP Healthcare Loan Recipients

Submitted by pmattera on Thu, 07/16/2020 - 18:16
Healthcare providers have faced significant challenges during the pandemic, but it was still surprising to see that sector show up as the largest recipient of assistance under the Paycheck Protection Program. That’s because hospitals and other providers were already receiving tens of billions of dollars in federal aid from other CARES Act programs.

Covid Stimulus Watch Adds New PPP Data

Submitted by pmattera on Mon, 07/06/2020 - 18:39
Covid Stimulus Watch has added the data released today by the Treasury Department on all Paycheck Protection Program loans of $150,000 or more. That brings the total number of awards listed on the site to more than 600,000—a twenty-fold increase.

New Federal Reserve Data Is Up on Covid Stimulus Watch

Submitted by pmattera on Mon, 06/29/2020 - 13:08
The Fortune 500 is now well represented on the list of CARES Act recipients. Yesterday, the Federal Reserve posted its first batch of information on corporate bond purchases under the Secondary Market Corporate Credit Facility. We have added the information to Covid Stimulus Watch.

Covid Stimulus Watch Posts Updated HHS Data on Aid to Hospitals

Submitted by pmattera on Fri, 06/12/2020 - 16:39

by Phil Mattera

The Department of Health and Human Services keeps updating the list of hospitals and other medical facilities receiving aid through the Provider Relief Fund. At Covid Stimulus Watch we scramble to capture the latest data and link the facilities listed by HHS to their health system parent entities.

HHS posted two updates to the list this week, and we have just finished adding our parent links to the data, which is now live on our site. We now include more than 11,000 grants of $500,000 or more from the program. These have a total value of $45 billion. For more info, see