Treasury, SBA to disclose identities of large PPP borrowers
The Treasury Department and Small Business Administration have reversed course and will release the names of many borrowers that received Paycheck Protection Program loans.
The agencies, which are overseeing the $659 billion program, said late Friday that they will provide information on businesses that received loans of $150,000 or more. They said those loans account for about three-fourths of all PPP funds approved.
The SBA and Treasury will share other details for the businesses, including their addresses, demographic data and the number of jobs supported by the loans. Specific loan amounts will not be disclosed, though each loan will be placed in one of five size categories.
SBA Administrator Jovita Carranza said in a tweet that the agencies “agreed with bipartisan leaders” of the Senate Committee on Small Business & Entrepreneurship to make the data public.
The Treasury Department had initially pushed back against demands that the data be shared.
The agencies will disclose summary information for loans of less than $150,000, including ZIP code, industry, business type and certain demographic categories.
No timeline was shared for producing the in-depth data.