Are you curious to see if your employer or local businesses got a slice of the government’s $2.2 trillion stimulus package? This week, ProPublica, an independent, non-profit newsroom, released a new Paycheck Protection Program (PPP) tracking tool.
This tool includes newly released data from the Small Business Administration (SBA), which includes lender-approved loans of $150,000 or more. The ProPublica tool offers four ways to sift through PPP loan data. You can search by organization, lender, zip code, or business type.
The PPP is part of the CARES Act, which passed in response to the coronavirus pandemic. The PPP has made $659 billion available for low-interest small business loans. PPP loans may be forgivable, depending on how companies use the money—with the goal of keeping employees on the payroll.
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The first round of PPP funding ran out by mid-April, sparking a public outcryover which companies had been approved. And complaints only continued as new stories broke of big companies getting PPP money—like major chain restaurants.
In May, ProPublica, The Washington Post, The New York Times, Bloomberg, and The Dow Jones sued the SBA for access to PPP loan data.
The Trump administration finally released the names of some of the companies that have received PPP loans over $150,000. According to the latest report, the SBA has spent over $5.2 billion and saved 51.1 million jobs.
The Trump administration finally released the names of some of the companies that have received PPP loans over $150,000. According to the latest report, the SBA has spent over $5.2 billion and saved 51.1 million jobs.
If you’re feeling skeptical, you can now search through some of the PPP loan data on your own. You can download the data by state and U.S. territory here. To access local data, you first need to download a zip file. You can then open your state’s .csv file and sort the data by zip code.
You can also search the data within seconds with ProPublica’s new tracking tool—the choice is yours.
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Personal finance writer. Candidate for CFP® Certification.
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