Sarah Sybert
The U.S. Small Business Administration and the U.S. Department of the Treasury have announced additional data regarding the Paycheck Protection Program (PPP), the SBAÂ reported Friday.
"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 Treasury Secretary Steven Mnuchin.Â
The SBA and Treasury launched the agreement with the approvement of bipartisan leaders of the Senate Small Business Committee. The revisions will ensure that the interests of transparency and protections for small businesses are served.
"Small businesses are the driving force of our economic stability and are leading the way to allow our nation to rebound safely," said SBA Administrator Jovita Carranza.
SBA will disclose the business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information and jobs supported. The categories account for nearly 75 percent of the loan dollars approved. For loans below $150 thousand, totals will be noted by zip code, by industry, by business type and by various demographic categories.
"We value transparency and our fiduciary responsibility to ensure American taxpayer funds are used appropriately. This responsibility goes together with the steps we are now taking to provide needed public information in step with protecting entrepreneurs' personally identifiable information associated with their business loan," added Carranza.
