The U.S. Small Business Administration and U.S.Treasury have agreed to provide transparency for the Paycheck Protection Program (PPP).
“We are striking the appropriate balance of providing public transparency, while protecting the payroll and personal income information of small businesses, sole proprietors, and independent contractors,” said Secretary Steven T. Mnuchin.
According to a press release dated June 19, the SBA will disclose the business names, addresses, NAICS codes, zip codes, business type, demographic date, nonprofit information, jobs supported and loan amounts ranges as follows:
$150,000 - $350,000
$350,000 - $1 million
$1- 2 million
$2 - 5 million
$5 - 10 million
“We value transparency and our fiduciary responsibility to ensure American taxpayer funds are used appropriately. This responsibility goes together with the steps we are not taking to provide needed public information in step with protecting entrepreneurs’ personally identifiable information associated with a business loan,” said Administrator Jovita Carranza.
“Small businesses are the driving force of our economic stability and are leading the way to allow our nation to rebound safely.”
To learn more, visit sba.gov.