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Economy / Business

Florida Senator Rubio Working On Another Round Of PPP Funding

Marco Rubio talking
US SENATE
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Senator Marco Rubio

Congress could approve more help for small businesses hit hard by the coronavirus pandemic. Florida Senator Marco Rubio is a major player in that effort.

The Miami Republican chairs the Senate Small Business Committee, and he was one of the architects of the original Paycheck Protection Program. 

In an interview with CNBC, Treasury Secretary Steven Mnuchin said he's talking to Rubio about what another round of PPP funding would look like.  

"I think any extension around the PPP is going to be much, much more targeted to the businesses that really need this money and the smaller businesses. So we're already working on a plan for that,” Mnuchin said.  

Congress has extended the PPP application deadline to Aug. 8. Rubio supported the extension but said any further federal aid should be “targeted help” for small businesses.  

The Small Business Administration says PPP saved more than three million jobs in Florida.  

But some of the recipients are facing scrutiny, including the Florida Democratic Party, which says it will return a $780,000 loan.   

Who Got PPP Loans In The Tampa Bay Region? 

According to the Tampa Bay Business Journal, 39 companies in the region applied for loans between $5 and $10 million.

They include Florida Medical Clinic, Crown Auto Dealerships, the law firm of Morgan & Morgan, and Times Holding Company (parent company of the Tampa Bay Times). 

In addition, the Bradenton Herald reports car dealerships owned by Congressman Vern Buchanan, R-Sarasota, received millions of dollars in loans.  

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