The Small Business Administration (SBA) released the official list of organizations that received a Paycheck Protection Program (PPP) loan of $150,000 or more.
If your firm was part of the $669-billion business loan program established by the US Federal government’s Coronavirus Aid, Relief, and Economic Security Act (CARES Act) you’ve made the list. If one or more of your clients took part, they are listed as well. The fact that your firm accepted the loan means that you agreed to the information being public and that you may need to answer questions about your acceptance of that loan (audited) eventually. In fact, as part of a recent rule change, Treasury Secretary Steve Mnuchin agreed to give congressional committees full access to all loan data, including borrower names and loan amounts.
The SBA posted the names, addresses, zip codes, demographic data, and industry codes of the borrowers that received at least $150,000. The SBA did not release specific loan amounts. Instead, they grouped the loads into five categories: $150,000 to $350,000; $350,000 to $1 million; $1 million to $2 million; $2 million to $5 million, and $5 million to $10 million. The release of this list covers 75 percent of the dollars loaned through the program. For those loans below $150,000 the SBA says the totals will be made public. It did not give a date of when that information will be available.
SPECIFIC A/E DATA
For those firms that borrowed at least $150,000 and selected an A/E industry codes, the following is true:
• A/E firms made up only 2.5 percent (16,049) of the entire list of nearly 652,000 organizations
• SBA reports that the amount of jobs saved in our industry was nearly 588,000 (576,644)
• About half of the firms listed (54 percent) borrowed between $150,000 to $350,000
• The most listed business type was Corporation at 49 percent
For a copy of the entire PPP list, click here: https://f.hubspotusercontent00.net/hubfs/279002/PPP%20Loan.xlsx
For a copy of just the A/E firms on the list, click here: https://f.hubspotusercontent00.net/hubfs/279002/AE%20PPP.xlsx
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