Treasury Department names coronavirus loan beneficiaries

Nearly 5 million companies received loans through the Paycheck Protection Program, which Congress passed to buffer small businesses against the coronavirus pandemic. On Monday, the U.S. Treasury Department released the names of the less than 15 percent of those companies, all of which borrowed more than $150,000. The list includes more than 650,000 beneficiaries alongside rough ranges for how much each business received. The government has approved $521 billion in loans through the program.

Who’s on the list? Several companies owned by U.S. politicians received loans, including an investment group led by New Hampshire Gov. Chris Sununu, Wisconsin Assembly Speaker Robin Vos’ popcorn manufacturing company, and Ohio Gov. Mike DeWine’s company through which he owns the Asheville Tourists minor league baseball team in North Carolina. The list also notes an approved a loan of between $15 and $30 million to Muy Brands, which owns more than 750 Wendy’s, Taco Bell, and Pizza Hut restaurants.

Dig deeper: Read Sophia Lee’s report on why the Paycheck Protection Program might not be enough to help small businesses.