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SBA and Treasury Announce Enhanced Transparency Regarding the Paycheck Protection Program
June 22, 2020
The U.S. Small Business Administration (SBA) 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.
“I am pleased that we have been able to reach a bipartisan agreement on disclosure which will strike the appropriate balance of providing public transparency, while protecting the payroll and personal income information of small businesses, sole proprietors, and independent contractors,” said Secretary Steven T. 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 while protecting entrepreneurs’ personally identifiable information, such as a home address associated with their business loan,” said 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.”
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 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.
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