SBA and Treasury Announce Enhanced Transparency Regarding the Paycheck Protection Program
Summary
SBA news release 20-51, published June 22, 2020. It announces that the U.S. Small Business Administration and the U.S. Department of the Treasury agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to make public additional data on the Paycheck Protection Program (PPP). The release quotes Secretary Steven T. Mnuchin saying the agreement balances public transparency with protecting the payroll and personal income information of small businesses, sole proprietors and independent contractors. It goes on to describe the loan data to be released.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
Archived news release 20-51 S. FL SBA and Treasury Announce Enhanced Transparency Regarding the Paycheck Protection Program ... Published on June 22, 2020 WASHINGTON —The U.S. Small Business Administration 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. “We are striking 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 in step with protecting entrepreneurs’ personally identifiable information 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: • $150,000-350,000 • $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. For PPP data disclosed to date, including total dollars approved, loan sizes, lender sizes and types, loans approved by state, top lenders, loans by industry sector, and funds remaining, click here . ### About the U.S. Small Business Administration The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov . Media contacts U.S. Small Business Administration Email Press_Office@sba.gov
File and source
- File
- article-2020-06-22-sba-treasury-announce-enhanced-transparency-regarding-paycheck-protection-program.html
- Size
- 36,606 bytes
- SHA-256
- ba0aac14a3ad474afaaf647ccec988081bf151c293e321a4a5cb6447fb4013d7
- Original
- legacy.sba.gov