WASHINGTON (AP) — The government’s small business lending program has benefited millions of companies, with the goal of minimizing the number of layoffs that Americans have suffered in the face of the coronavirus pandemic.
Yet the recipients include many you probably wouldn’t have expected. Kanye West’s clothing line. The sculptor Jeff Koons. Law firms and high-dollar hedge funds. The Girl Scouts. Political groups on both the left and the right. All told, the Treasury Department’s Paycheck Protection Program authorized $520 billion for nearly 5 million mostly small businesses and nonprofits. On Monday, the government released the names and some other details on those who were approved for $150,000 or more.