Search the Database: Virginia Paycheck Protection Program loan recipients

WAVY Web Staff

4 years ago

Shown is a portion of a Small Business Administration Paycheck Protection Program Borrower Application Form, Tuesday, April 21, 2020 in Washington. The Paycheck Protection was supposed to be a lifeline for small businesses, helping them stay afloat and keep their employees on the payroll during the coronavirus pandemic. But guidelines from the Small Business Administration say that businesses are ineligible if someone who owns at least 20 percent of the company is incarcerated, under indictment, on probation or parole or had been convicted of a felony within the last five years. Ineligible would-be applicants and advocates say the restrictions are a slap in the face for those who have served their time, especially from an administration that has trumpeted second chances. (AP Photo/Wayne Partlow)

RICHMOND, Va. (WAVY) – The U.S. Small Business Administration on Monday released the names of employers which have received loans through the federal Paycheck Protection Program (PPP).

Monday was the same day the PPP resumed accepting applications. The new deadline to apply for the extended loan program is August 8, 2020.

The SBA data was released under pressure from Congress to provide an accounting for the $669 billion forgivable loan program.

The PPP was created as part of the federal CARES Act, the massive economic rescue package that Congress passed in March to try and protect the economy from the effects of the COVID-19 pandemic. The program has been extended and altered in additional legislation since then.

According to the data, 17 businesses in Hampton Roads received the largest PPP loans, which are worth $5 million to $10 million.

You can access additional Paycheck Protection Program data here.