RICHMOND, Va. (AP) — Virginia’s businesses and nonprofits took in between $9.5 billion to $18.2 billion through the U.S. Treasury Department’s Payroll Protection Program, new data released Monday shows.
The government data said nearly 110,000 PPP loans were awarded in Virginia, with the vast majority — 93,000 — under $150,000.
The Treasury Department only released the names for about 16,000 Virginia entities that received loans of more than $150,000.
Data shows that the program, designed to soften job losses from the coronavirus, was used far and wide in Virginia.
Recipients include pricey private schools located in some of the country’s wealthiest suburbs, federal IT and defense contractors, and well-known real estate developers and construction companies.
Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.