The distribution of PPP loans will soon be transparent
From its inception at the end of March 2020 until today, June 22, 2020, the SBA had only been providing very general information about how the Paycheck Protection Program had been running. That basic information included total amounts of loans distributed over a given time period but not much more.
But the Trump administration has recently made a sudden change in tune, announcing that the SBA will now release more data about PPP loan recipients.
- Information pertaining to loans of less than $150,000 will show totals by industry, business type, and demographic category
- Information pertaining to loans of more than $150,000 will show the business names, addresses, zip codes, business types, demographic data, number of jobs supported, and loan amount ranges