SBA and Treasury agree to release information on PPP loan recipient
Bowing to pressure from bipartisan leaders on the Senate Small Business and Entrepreneurship Committee, the Small Business Administration and the Treasury Department agreed on Friday evening to release additional information regarding the Paycheck Protection Program (PPP). .
The SBA said it would disclose business names, addresses, industry classification codes, zip codes, type of business, demographics, nonprofit information, details of jobs taken up. business charge and loan amount ranges, as follows:
- $ 150,000 – $ 350,000
- $ 350,000 to $ 1 million
- $ 1 to $ 2 million
- $ 2 to $ 5 million
- $ 5-10 million
“These categories represent almost 75% of approved loan dollars,” SBA said.
For loans under $ 150,000, totals will be published, aggregated by postal code, industry, type of business and various demographic categories.
For PPP data disclosed to date, including total dollar approved amount, loan size, size and type of lenders, government approved loans, major lenders, loans by industry sector and funds remaining at listed here.
Treasury Secretary Steven Mnuchin said in a statement that the SBA and the Treasury “strike the appropriate balance in ensuring 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 that US taxpayer funds are used appropriately. This responsibility goes hand in hand with the steps we are currently taking to provide the necessary public information along with the protection of the entrepreneurs’ personally identifiable information associated with their business loan, ”Carranza explained.
Small businesses, he added, “are the driving force behind our economic stability and pave the way for our nation to bounce back safely.”