More than 3,000 trucking companies received at least $150,000 in funds from the Paycheck Protection Program.
This week, the Small Business Administration (SBA) released a report that listed all businesses that received PPP loans.
According to the SBA press release 4.9 million loans have been granted.
“The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,” said Secretary Steven T. Mnuchin.
In total, 3,205 trucking companies applied for loans of $150,000 or more. Thirty-three trucking companies received between $5 and $10 million in PPP loans.
According to a report from Bloomberg, “Almost 30% of [drivers they polled] applied for the government’s paycheck protection program, and 57% had received the funding.”
Companies with fewer than 500 employees can still apply for the remaining $130 million in unspent PPP funds. The deadline to apply has been extended to August 8.