SBA releases detailed data on Paycheck Protection Program loan recipients
BPC Staff Dec 2, 2020 | 9:21 pm
1 min read time
186 wordsAll Latest News, Economic Development, Government Policy and LawThe U.S. Small Business Administration on Tuesday released detailed loan information for millions of borrowers under the Paycheck Protection Program, the Wall Street Journal reported. The disclosure, ordered by a federal judge in response to a lawsuit filed by news organizations under the Freedom of Information Act, provides the names, addresses and precise loan amounts for each PPP borrower, including information for more than 61,000 borrowers in Iowa. The SBA in July had released some detailed information for PPP loans above $150,000, although the bulk of the program’s loans were smaller than that. The SBA had previously provided the names and addresses of borrowers whose PPP loans exceeded $150,000 along with their loan range across five categories, from $150,000 to the maximum of $10 million. The agency had also released specific amounts for loans under $150,000, but hadn’t provided the names of the borrowers. The updated files indicate that 61,258 PPP loans were made by Iowa financial institutions, of which 55,301, or 90%, were for amounts of less than $150,000. To read a Business Record article about the original data release in July, click here.