More than 2,000 groups sign letter asking Congress to stop excluding 501(c)(6) organizations from Paycheck Protection Program
July 10, 2020
By Kathryn Walson
The Small Business Administration released its much-anticipated list July 6 of which businesses and other entities received forgivable loans to help them survive the pandemic. The data shows that dozens of associations—primarily in the education and health care sectors—were approved for loans of $1 million or more.
Among the biggest recipients in the association world: The American Association for the Advancement of Science, American College of Cardiology Foundation, American Academy of Pediatrics, American Society of Mechanical Engineers, SAE International and the American College of Physicians were approved for loans of at least $5 million, according to SBA data. Ranges for loans, rather than actual amounts, were provided by SBA, with the top range being $5 million to $10 million.