SBA, Treasury release Paycheck Protection Program loan data
The Small Business Administration and Treasury Department today released regarding the loans made under the Paycheck Protection Program.
The loan-level data includes business names, addresses, North American Industry Classification System codes, ZIP codes, business type, demographic data, non-profit information, name of lender, jobs supported and loan amount ranges.
鈥淭he PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80% of all small business employees, who are the drivers of economic growth in our country,鈥 said Treasury Secretary Steven Mnuchin.
Congress last week passed legislation extending the PPP loan application period through Aug. 8. Organizations with fewer than 500 total employees, including hospitals, may apply to the program for loans of up to $10 million and have the loan amount forgiven if at least 60% of the loan goes to payroll expenses, among other requirements.
The Coronavirus Aid, Relief, and Economic Security Act created the forgivable loans to help eligible small businesses keep workers on the payroll during the pandemic. Congress then extended the loan period through Dec. 31, and the timeframe for repayment if required, among other AHA-supported flexibilities.