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June 19, 2020 at 08:51 PM
Bowing to pressure from the bipartisan leaders of the Senate Committee on Small Business and Entrepreneurship, the Small Business Administration and the Treasury Department agreed late Friday to make public additional information regarding the Paycheck Protection Program (PPP).
SBA said it will disclose the business names, addresses, industry classification codes, zip codes, business type, demographic data, non-profit information, details on jobs supported by the firms and loan amount ranges, as follows:
- $150,000-$350,000
- $350,000-$1 million
- $1-2 million
- $2-5 million
- $5-10 million
“These categories account for nearly 75% of the loan dollars approved,” SBA said.
For loans below $150,000, totals will be released, aggregated by zip code, by industry, by business type, and by various demographic categories.
For PPP data disclosed to date, including total dollars approved, loan sizes, lender sizes and types, loans approved by state, top lenders, loans by industry sector, and funds remaining as listed here.
Treasury Secretary Steven Mnuchin said in a statement that SBA and Treasury are “striking the appropriate balance of providing public transparency, while protecting the payroll and personal income information of small businesses, sole proprietors, and independent contractors.”
SBA Administrator Jovita Carranza added in the statement that “we value transparency and our fiduciary responsibility to ensure American taxpayer funds are used appropriately. This responsibility goes together with the steps we are now taking to provide needed public information in step with protecting entrepreneurs’ personally identifiable information associated with their business loan,” Carranza explained.
Small businesses, he added, “are the driving force of our economic stability and are leading the way to allow our nation to rebound safely.”
