Auto dealers, restaurants with ties to lawmakers were among the firms that got PPP loans: Treasury report

Businesses owned by several members of Congress or their families received federal Paycheck Protection Program loans designed to help small firms weather the economic fallout of the coronavirus, according to information the Trump administration released Monday.

The list of lawmaker-connected businesses includes car dealerships, casinos, construction companies, and restaurants. All were deemed eligible by the Small Business Administration for the PPP loans, a centerpiece of the federal government’s response to the COVID-19 pandemic that has left millions out of work and upended daily life in America.

Recipients with congressional ties were among more than 660,000 businesses whose names were released after weeks of pressure by watchdog groups, media organizations and lawmakers. Names of entities that received more than $150,000 andup to the $10 million maximum were made public.

The businesses include a wide range of entities in every state, including restaurant franchises, yacht clubs, athletic organizations and strip clubs. Money also went to nonprofits, including advocacy groups representing sportsmen, religious groups and former members of Congress, according to the list released jointly by the Treasury Department and Small Business Administration.

Among the recipients were 426 publicly traded companies, including Shake Shack and the parent company of Ruth’s Chris steak houses, based on public filings. It also included the Los Angeles Lakers professional basketball club. Some of those entities, including Shake Shack, Ruth’s Chris and the Lakers, returned the money after a public backlash.

Leave a reply