The coronavirus has hit America hard. Pennsylvania is one of the hardest-hit states in America and is continuously witnessing a surge in the daily coronavirus cases. The state was in lockdown for a long amount of time and that was taking a huge toll on its economy.
In order to revive the economy of the country, a relief package was announced by the federal government.
Now, the treasury department of Pennsylvania has released the official figures related to the loan undertaking by the businesses or organizations. Surprisingly, there are more than 165,000 such organizations that have taken the loan.
Among them, more than 26,000 organizations have taken a loan of over $150,000. Only those organizations’ names have been revealed who has taken a loan bigger than the above-stated figures.
According to the rules prescribed, those organizations under that threshold won’t be revealed. However, a case has been filed in the same issue for revealing the name of all the organizations that have taken the loan.
There are detailed figures as to which industries consist of these 26,000 organizations. Here is a small breakdown:
-Full-service restaurants consist of more than 6,000 entries in that data – Religious organizations such as churches consist of almost 4,000 entries – law firms, real estate brokers and agents and other service providers consist of 3000 entries – limited-service restaurants consist of nearly 2,900 entries.
The average loan amounted to $1,07,000. More than 80% of the 5 million applicants for the loan were below the threshold of $150,000. Hence their names won’t be revealed. For more such latest news stay tuned with us.