On Friday, June 19, 2020, the U.S. Department of Treasury (Treasury), the U.S. Small Business Administration (SBA) and U.S. Senate Small Business Committee agreed on terms that will make specific Paycheck Protection Program (PPP) loan borrower information available to the public in order to provide transparency to taxpayers.
Each loan between $150,000 and $10 million will be recognized to have an amount in one of the following ranges:
- $150,000 - $350,000
- $350,000 - $1 million
- $1 million - $2 million
- $2 million - $5 million
Although the loan amount provided to each business will not be provided, each loan will be identified as falling within a bucket within the $150,000 to $10 million range.
The specific borrower-related information for loans within the range noted that will be made public are as follows:
- Business name
- Address of business, including zip code
- Type of business
- Business’s North American Industry Classification System (NAICS) code
- Demographic information
- Non-profit information
- Jobs supported
Loans below $150,000 will be grouped separately by various categories, such as business type, industry, zip cope and demographics, with only the total amount of loans displayed for each category. The SBA does not plan to disclose individual borrower names for the loans less than $150,000 in the initial release of information.
Please find the release here.
For more information, reach out to us at CARESActQuestions@dhg.com.