In response to increasing public pressure, the Small Business Administration announced on June 19 that it would release the names of Paycheck Protection Program (PPP) loan recipients awarded at least $150,000 in funds. No timeline for the disclosure has been announced, but the SBA said it would “disclose the business names, addresses, NAICS codes, zip codes, business type, demographic data, not-for-profit information, jobs supported, and loan amount ranges as follows:”
- $150,000-$350,000
- $350,000-$1 million
- $1-2 million
- $2-5 million
- $5-10 million
Participants receiving $150,000 or less from loans will not have their business names released but certain non-identifying demographic data will be released. According to the SBA, 75 percent of Paycheck Protection Program loans totaled more than $150,000.
CBM will keep you updated as more information comes to our attention. Please reach out via our online contact form with any questions.
Councilor, Buchanan & Mitchell (CBM) is a professional services firm delivering tax, accounting and business advisory expertise throughout the Mid-Atlantic region from offices in Bethesda, MD and Washington, DC.
