PPP Extension Signed Into Law; Detailed PPP Loan Data ReleasedJuly 6, 2020
On July 4, the President signed into law the Payroll Protection Program Extension Act extending the period for an eligible business to apply for a Paycheck Protection Program (PPP) loan to August 8, 2020. The previous deadline was June 30, 2020.
The Small Business Administration also released detailed loan-level data regarding loans made under the PPP. Specifically, the data includes business names, addresses, NAICS codes, business types, demographic data, nonprofit information, lender names, 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
The categories above represent 75% of the loan dollars approved, and information for loans below $150,000 will not include business names and addresses. Further detailed data and statistics may be found here.
Marks Paneth will continue to monitor developments and will provide updates as they become available. Contact your Marks Paneth advisor if you need additional information or assistance or email firstname.lastname@example.org.
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