The U.S. Small Business Administration (SBA) has released detailed loan-level data on Paycheck Protection Program (PPP) loans exceeding $150,000. The data includes business names, addresses, NAICS codes, zip codes, business type, demographic data, nonprofit information, name of lender, jobs supported and loan amounts (given in ranges).
The SBA specified that the existence of a loan on the list does not reflect a borrower’s eligibility for the loan or forgiveness. All loans are still subject to review and all loans over $2 million are automatically reviewed.
>> Read “SBA Releases Updated PPP Loan Forgiveness Application and Interim Final Rules”
The released data of loans greater than $150,000 includes about 75% of all PPP loans. The same information for the remaining loans below $150,000 was also released separately on the SBA website by state, but excludes business names and addresses. Cancelled loans are not included in the data set.
The public release of the loan information is meant to provide transparency to the American taxpayers and show “…that small businesses of all types and across all industries benefited from this unprecedented program” per SBA administrators. All PPP demographic data was voluntarily provided by the borrowers when applying for the loans, and not all borrowers chose to include that information.
View the U.S. Treasury press release and data.
Contact Adam Hill at ahill@cohencpa.com or Dave Sobochan at dsobochan@cohencpa.com to discuss this topic further.
Cohen & Company is not rendering legal, accounting or other professional advice. Information contained in this post is considered accurate as of the date of publishing. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts, circumstances and current law.