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Rubio Statement on Bipartisan PPP Loan Disclosure Agreement
Miami, FL — U.S. Senator Marco Rubio (R-FL), Chairman of the Senate Committee on Small Business and Entrepreneurship, released a statement after the U.S. Treasury Department and the Small Business Administration (SBA) announced they reached a bipartisan agreement with the leaders of the Committee on how the Administration will publicly disclose Paycheck Protection Program (PPP) data.
“From the beginning, I have been committed to ensuring there is adequate transparency around the Paycheck Protection Program and the other small business programs in the CARES Act,” Chairman Rubio said. “The American people deserve to know how effective the PPP was in protecting our nation’s small businesses and the tens of millions of Americans they employ. That is the standard by which we must measure the success of the PPP: how many paychecks were protected. I also understand the very real concern that many small business owners have with regard to disclosing proprietary information. Today’s announcement strikes a balance between those concerns and the need for transparency.”
Details of PPP loan disclosure.
SBA will disclose the business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, jobs supported, and loan amount ranges as follows:
- $150,000 – $350,000
- $350,000 – $1,000,000
- $1,000,000 – $2,000,000
- $2,000,000 – $5,000,000
- $5,000,000 – $10,000,000
These categories account for nearly 75 percent of the loan dollars approved. For loans below $150,000, totals will be released, aggregated by zip code, by industry, by business type, and by various demographic categories.
For PPP data disclosed to date, including total dollars approved, loan sizes, lender sizes and types, loans approved by state, top lenders, loans by industry sector, and funds remaining, click here.