SBA and Treasury Announce Release of Paycheck Protection Program Loan Data | U.S. Department of the Treasury

Summary

In a U.S. Department of the Treasury press release dated July 6, 2020, the U.S. Small Business Administration, in consultation with the Treasury Department, announced the release of loan-level data on the Paycheck Protection Program (PPP), covering each of the 4.9 million PPP loans made. Secretary Steven T. Mnuchin said the program supported more than 51 million jobs and that the average loan size is approximately $100,000. For loans of $150,000 and above, the data include business names, addresses and loan amount ranges, categories said to account for nearly 75 percent of loan dollars approved. For loans below $150,000, business names and addresses are not 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

U.S. Department of the Treasury

Press Releases

SBA and Treasury Announce Release of Paycheck Protection Program Loan Data

July 6, 2020

WASHINGTON – The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made.

“The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,” said Secretary Steven T. Mnuchin. “We are particularly pleased that 27% of the program’s reach in low and moderate income communities which is in proportion to percentage of population in these areas. The average loan size is approximately $100,000, demonstrating that the program is serving the smallest of businesses,” he continued. “Today’s release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors.”

“The PPP is an indisputable success for small businesses, especially to the communities in which these employers serve as the main job creators,” said Administrator Jovita Carranza. “In three months, this Administration was able to act quickly to get funding into the hands of those who faced enormous obstacles as a result of the pandemic. Today’s data shows that small businesses of all types and across all industries benefited from this unprecedented program. The jobs numbers released last week reinforced that PPP is working by keeping employees on payroll and sustaining millions of small businesses through this time.”

Today’s release includes loan-level data, including business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender, 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 all loans below $150,000, SBA is releasing all of the above information except for business names and addresses.

The data release also includes overall statistics regarding dollars lent per state, loan amounts, top lenders, and distribution by industry. The loans have reached diverse communities proportionally, across all income levels and demographics.

In addition, the data provides information regarding the sizes of participating lenders and participation by community development financial institutions, minority depository institutions, Farm Credit System institutions, fintechs and other nonbanks, and other types of lenders. It further contains data showing the reach of the program in underserved communities, rural communities, historically underutilized business zones (HUBZones), and participation by religious, grantmaking, civil, professional, and other similar organizations.

View the Paycheck Protection Program Report through June 30th .

Loan-level data .

####

Use featured image

Off

File and source

File

ms_0109_home-treasury-gov-news-press-releases-sm1052.html

Size

115,368 bytes

SHA-256

bb928fee4b32661e7e1961c36a79b5c5da9c3811f383674e27f407015911a373

Our copy

ms_0109_home-treasury-gov-news-press-releases-sm1052.html

Original

home.treasury.gov