As an update to our coverage on the Covid-19 updates affecting the business community, today we share the news that a judge ordered the Trump administration and SBA to provide additional details regarding the approximately $550+ billion in loans provided under the Paycheck Protection Program.
Previously the SBA agreed to provide loan amount ranges for PPP borrowers with loans above $150,000. In addition they provided the precise dollar amounts, but no borrower identification, for loans under $150,000. However this month U.S. District Judge James E. Boasberg ruled that exemptions to the Freedom of Information Act (FOIA) did not allow the SBA to withhold information that provided the identity of the borrowers for all loans.
Of the approximately 5.2 million loans provided under the PPP, roughly 4.5 million were for amounts of $150,000 or less, based on data from the SBA.
For more information, check out CFO.com.