SBA Releases Details of PPP Loan Borrowers
December 2, 2020
On December 1, 2020, per order from U.S. District Judge James Boasberg, the Small Business Administration (SBA) released the names, addresses and precise loan amounts for each Paycheck Protection Program (PPP) borrower.
Details of these federally backed borrowings originating from PPP loans and Economic Injury Disaster Loans (EIDL) were set to be released on November 19th following a federal lawsuit filed by several media outlets under the Freedom of Information Act. However, the SBA won a temporary stay of the November 5th ruling. Judge Boasberg ordered the release of the data by today and the SBA did not appeal.
The SBA previously provided the names and addresses of borrowers whose PPP loans exceeded $150,000, listing borrowers within one of five ranges from $150,000 up to $10 million. For loans under $150,000, the SBA released specific amounts but did not include the names of those borrowers.
Aprio has established a dedicated PPP loan forgiveness team that is continuously monitoring the latest information and guidance from the SBA, as well as the Treasury, Congress and the IRS, to ensure we have the latest information when advising our clients.
For assistance in navigating the loan forgiveness process, contact Aprio’s dedicated PPP loan forgiveness team for a consultation.