PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

PPP Loan Data Released: SBE Council Applauds Transparency

By at 6 July, 2020, 1:05 pm

NEWS

For Immediate Release

Washington, D.C. – Today, Small Business & Entrepreneurship Council (SBE Council) president & CEO applauded the release of Paycheck Protection Program (PPP) data by the U.S. Department of Treasury and Small Business Administration (SBA). The following statement can be attributed to Kerrigan on the release of the data:

“Small business owners support transparency and accountability in how taxpayer dollars are being utilized, therefore SBE Council applauds the release of PPP data. The volume of data released today is significant, which means there is a tremendous amount of information to review and analyze. However, the topline data demonstrates that those small businesses that were able to access PPP loans were spread across the small business ecosystem, with loan amounts of various sizes and diverse income communities represented. The average loan size of $106,744 is a good indication that very small firms also benefited from the program. SBE Council will continue to review the data to determine how the PPP program can be re-worked to support the many small businesses that could not utilize the program due to restrictions that hindered access. We look forward to our continued conversations with members of Congress about how we can reach many more small businesses in need during COVID-19.”

CONTACT: Karen Kerrigan

kkerrigan@sbecouncil.org

SBE Council is nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 25 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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