On June 19, 2020, the United States Small Business Administration (“SBA”) and the Department of the Treasury issued a Press Release indicating that they have agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to publicly disclose additional borrower data related to Paycheck Protection Program (“PPP”) loans, in order to “ensure that the interests of both transparency and protections for small businesses are served.”
According to the press release, SBA will disclose the business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, jobs supported, and loan amount ranges as follows:
- $350,000-1 million
- $1-2 million
- $2-5 million
- $5-10 million
These categories account for nearly 75% of the loan dollars approved. For loans below $150,000, totals will be released, aggregated by zip code, by industry, by business type, and by various demographic categories.
According to a June 26 article posted on The Hill, SBA Administrator Carranza and Treasury Secretary Mnuchin have reportedly agreed to provide Congress with full access to all PPP loan data, including borrower names and loan amounts for loans below $150,000, “with the understanding that nonpublic personally identifiable and commercially sensitive business information will be treated as confidential.” [Ellis, N. (2020, June 26). Treasury to Give Congress Access to PPP Loan Data. Retrieved from https://thehill.com/policy/finance/504695-treasury-to-give-congress-access-to-ppp-loan-data].
For additional information on the Paycheck Protection Program, as well as other Federal, state and local relief measures, please visit our COVID-19 Resource Center on our website. If you have any questions, please contact your Tronconi Segarra & Associates advisor or a member of our response team at firstname.lastname@example.org
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