A look inside the government's small biz bailout

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE TUE, JUL 07, 2020 CNBC POLITICS EDITOR'S NOTE Hello,   The Trump administration has unveiled a list of more than 660,000 companies that received forgivable loans under the Paycheck Protection Program.   The PPP was intended to help small businesses cope with the coroanvirus pandemic. Indeed, most of the nearly 5 million companies in the bailout program were approved for loans of $150,000 and less. Many larger companies and billionaires won approvals, however, according to the data released this week. Some firms and people, including a woman in Wisconsin, were listed as having been approved for multimillion-dollar loans they didn't get, or seek.   Check out the stories below for more insight on the PPP and where the money went.   Here are other stories the CNBC Politics team has been covering: President Trump attacked NASCAR and its only full-time Black driver, Bubba Wallace. Atlanta Mayor Keisha Lance Bottoms, who is reportedly in the running to become Joe Biden's VP pick, has tested positive for coronavirus. There are concerns that a new employee purge could be in the works at a federal media agency run by a newly installed Trump appointee. You can find more coverage linked below. Thoughts? Email Mike Calia at CNBCPolitics@nbcuni.com.     Have friends or colleagues who might like this newsletter? They can sign up here.  Mike Calia @Michael_Calia KEY STORIES  Trump administration releases list of companies that received most money from small business bailout loans The Paycheck Protection Program was set up as part of the CARES Act relief law to help companies retain employees during coronavirus lockdowns. Deutsche Bank hit with $150 million penalty for relationship to sex offender Jeffrey Epstein Accused child sex trafficker Jeffrey Epstein was a former friend of Presidents Donald Trump and Bill Clinton, as well as of Prince Andrew. Federal media agency's employee review sparks fears of another staff purge CEO Michael Pack is reviewing employment agreements of longtime U.S. Agency for Global Media officials, prompting fears of a new purge. Small business coronavirus relief loan database contains some big errors, firms say Index Ventures, Foundation Capital and scooter company Bird said that they did not apply for the Payroll Protection Program, despite being listed as having been approved for millions of dollars of funds. Among companies getting millions in U.S. small business loans: South Korea's biggest airline The Seoul-based airline has about 500 employees in the U.S. and says it is using most of the funds to pay staff. Trump rips NASCAR for banning Confederate flag and targets Black driver Bubba Wallace Bubba Wallace, the only Black full-time driver on the NASCAR circuit, has been an outspoken critic of Confederate symbols. Atlanta Mayor Keisha Lance Bottoms says she tested positive for coronavirus "COVID-19 has literally hit home," Bottoms said in a tweet. "I have had NO symptoms and have tested positive." The billionaires and country clubs that received small business loans from the government Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to filings.       Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS