The Latest: Treasury identifies recipients of pandemic aid
NEW YORK (AP) — The Latest on the Treasury decision to identify hundreds of thousands of businesses that got government support intended to soften the economic blow of the pandemic:
A company owned by Ohio Gov. Mike DeWine is among those that received loans from a $600 billion-plus coronavirus aid program.
Data released Monday shows DeWine Seeds-Silver Dollar Baseball received a loan under the Small Business Administration’s Paycheck Protection Program for a range of $150,000 to $350,000. The company owns the Asheville Tourists, a minor league baseball team in North Carolina, which was purchased by the governor’s family in 2010. DeWine’s son, Brian DeWine, is the president of the baseball team.
The Treasury Department will release the names of more than 700,000 companies that received funds from the government’s small business lending program.
That program was put into place to support businesses as states shut down in April to contain the coronavirus outbreak. The Treasury to date had identified just a fraction of all borrowers, naming only those companies that received more than $150,000.
But those firms made up less than 15% of the nearly 5 million small companies that received loans.