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Financial Services Law Insights and Observations

SBA releases PPP borrower information

Federal Issues SBA Small Business Lending Covid-19 Department of Treasury

Federal Issues

On July 6, the Small Business Administration (SBA), in conjunction with the Treasury Department, released the business information of certain Paycheck Protection Program (PPP) loan recipients. For any loan over $150,000, the SBA data release includes business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender, jobs supported, and a loan amount range. For loans under $150,000, the SBA withheld the business names and addresses in the release. The data release also includes overall statistics regarding dollars lent per state, loan amounts, top lenders, and distribution by industry.  According to data, the PPP has approved over $4.8 million loans, with the average loan size of approximately $106,000. Currently, there are 5,460 participating lenders.

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