Quick Answer: Are The PPP Loans Being Funded?

What big companies got PPP loans?

LIST OF LARGEST PPP LOANS PUBLICLY TRADED COMPANIES GOTBIGGEST COMPANIES THAT GOT PPP LOANS All publicly-traded, unless otherwise notedLOAN AMOUNTAutoNation New, used auto retailer$80,000,000Ruth’s Hospitality Group Inc.

Ruth’s Chris Steak House$20,000,00036 more rows•Apr 23, 2020.

Should I be worried about PPP?

No! PPP are harmless skin growths. Although it’s completely normal to be concerned at first; once you know the facts, there’s really nothing to worry about.

What percentage of PPP loans get funded?

In the first round of PPP funding, loans of more than $2 million accounted for around 1.5% of total loans, but around one-quarter of the total pool of money. This time, those loans are 0.35% of all loans, but they account for just over 16% of the total pool of second-round money.

Is PPP still available today?

Paycheck Protection Program loans are still available, even as businesses reopen. UPDATE: On July 1, Congress approved an extension of the Paycheck Protection Program until August 8, 2020. … Even for businesses now reopening, the PPP is still available as a source of Covid-19 financial relief.

What big companies got the PPP?

Large companies that got PPP small business loans include restaurant chains like Fiesta Restaurant Group (FRGI), parent company of Taco Cabana, which got $10 million, and RAVE Restaurant Group (RAVE), parent of Pizza Inn and Pie Five, which got $657,000; hotel chains like Braemar (BHR), which got $15.8 million, and Red …

How much money is left in the PPP?

There’s about $130 billion left in the PPP pot. Why small businesses are slow to claim cash. It took less than two weeks for the Paycheck Protection Program to run out of funds when it first opened to small businesses on April 3.

Where did PPP loans go?

About 14% of the million-dollar-plus loans went to the health care and social assistance sector. Among these borrowers, more than half of the loans went to outpatient-care establishments, which include offices of physicians, dentists and medical and diagnostic labs.

Can small businesses get a second PPP loan?

A new bill introduced this week would allow eligible small businesses to apply for a second Paycheck Protection Program (PPP) loan.

Has any PPP loans been funded?

After a rush to replenish the Paycheck Protection Program with $310 billion in funding, there’s more than $120 billion still left unallocated for small businesses. As of May 30, 4.4 million loans have been made in both rounds of the PPP program for a total loan value of $510.2 billion.

How quickly will PPP loans be funded?

The additional funding from Congress means the remaining 95% of small businesses, most of which have fewer than 20 employees, have another chance at applying or securing the funds. When small businesses are approved by the SBA for PPP funding, lenders will issue funds within 10 business days.

Who actually got PPP loans?

Here are some of the recipients of P.P.P. money that may raise eyebrows: Investment firms that manage billions, including Semper Capital Management, Domini Impact Investments and Brevet Holdings. At least 45 major law firms, including Boies Schiller Flexner, Kasowitz Benson Torres and Wiley Rein.