SBA, DoT Release PPP Loan Data; Steven Mnuchin, Jovita Carranza Quoted

SBA, DoT Release PPP Loan Data; Steven Mnuchin, Jovita Carranza Quoted
Steven Mnuchin

The U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury (DoT), has released detailed loan-level data in regards to the loans made under the Paycheck Protection Program (PPP), the administration reported on Monday. 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 Mnuchin. 

SBA’s statement has included loan-level data such as business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender and jobs supported. For loans under $150 thousand, SBA will not disclose business names and addresses.

The data release has also noted overall statistics regarding dollars lent per state, loan amounts, top lenders and distribution by industry. The loans have been granted to businesses across diverse communities proportionally, income levels and demographics.

SBA administrator Jovita Carranza said, "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… The jobs numbers released last week reinforce that PPP is working by keeping employees on payroll and sustaining millions of small businesses through this time."

In addition, the data has supplied 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. 

It further contains data showing the reach of the program in underserved communities, rural communities, historically underutilized business zones, and participation by religious, grantmaking, civil, professional and other similar organizations.

"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," Mnuchin added. 

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.

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