(Photos: Shutterstock; compilation:Chris Nicholls/ALM)

The Small Business Administration(SBA) has posted details on some 4.9 million business loans tied tothe $669 billion Paycheck ProtectionProgram (PPP), whichrecently extended its application deadline to August 8.

The SBA information released Monday includes thenames of about 650,000 entities, each of which took a loan of$150,000 or more. These larger businesses, such as P.F. Chang'sChina Bistro, have taken nearly 75 percent of the PPP funding thathas been allocated.

The loans are capped at 2.5 times the firm's monthly payrollexpenses, up to $10 million.

SBA information on loans going tosome 4.2 million smaller businesses excludes their names butincludes their industry sector, number of employees, and otherdata. The Trump administration agreed to release some data onborrowers last month. News groups such as Bloomberg and ProPublicaare suing for access to the full database underthe Freedom of InformationAct.

The government is givingcongressional committee access to all borrowers' names uponrequest, according to a Bloomberg report. 

By the Numbers 

Companies across the country havereturned or canceled over $30 billion in PPP loans, a senioradministration official told CNBC on Monday.These funds are partof the $2 trillion CARES Act, passed earlier this year in responseto the Covid-19 economic crisis. 

The nearly 70 public companiesthat borrowed through the program have returned some $436 million,according to FactSquared, which says the level of gross loans topublic firms was nearly $1.4 billion. 

From April 3 to June 30, $521.5billion of loans to private and public entities were approved. Thegovernment says this funding supports roughly 51 million jobs. Theaverage loan size so far is about $106,700. Some 5,460 lenders haveparticipated in the program, which is run jointly by the SBA andTreasury Department. Applicants in California received some$68 billion, followed by those in Texas with $41.1 billion, and NewYork with $38.3 billion.

The PPP still has about $132 billion in funding for loans.

Naming Names

Loan recipients include the law firm Boies Schiller Flexner LLP,led by antitrust litigator David Boies, and Newsmax Media Inc., runby Trump donor Christopher Ruddy, according to The Wall Street Journal. Several wealth management firms have disclosed their own PPP loan arrangements.

The news outlet Politico combed through the data on Monday anddisclosed that groups such the Congressional Black Caucus Foundation,Congressional Hispanic Caucus Institute, and CongressionalSportsmen's Foundation took out PPP loans of $350,000 to $1million.

The Association of Former Members of Congressborrowed between $150,000 and $300,000.

Other entities taking the loansinclude the Prime Ribsteakhouse on K Street in Washington (between $2 million and $5million) and anti-tax crusader Grover Norquist's Americans for Tax Reform Foundation ($150,000 to$350,000).

From: ThinkAdvisor