BREAKING

Identity of Businesses, Including those in USVI That Received More Than $150,000 From Paycheck Protection Program to be Made Public

Business Published On June 23, 2020 06:29 AM
Staff Consortium | June 23, 2020 06:29:57 AM

The U.S. Small Business Administration and the U.S. Department of the Treasury have agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to make public additional data regarding the Paycheck Protection Program (PPP).  This agreement will ensure that the interests of both transparency and protections for small businesses are served, the SBA has announced.

“We 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,” said U.S. Treasury Secretary Steven Mnuchin.  

“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,”said SBA Administrator Jovita Carranza. “Small businesses are the driving force of our economic stability and are leading the way to allow our nation to rebound safely.” 

The SBA said it 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: 

  • $150,000-350,000
  • $350,000-1 million
  • $1-2 million
  • $2-5 million
  • $5-10 million

 

These categories account for nearly 75 percent 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. 

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, click here.

 

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