SBA, Treasury release Ag PPP data
Of the Paycheck Protection Program’s 4.6 million loans totalling more than $512 billion, there have been 130,512 loans totaling more than $7.6 billion in the “Agriculture, Forestry, Fishing and Hunting” category, or 1.49% of the amount, the Small Business Administration announced Friday.
The report followed an agreement that SBA and the Treasury Department reached with the bipartisan leaders of the Senate Small Business Committee to make more PPP data public.
The PPP’s ag lenders include 54 Farm Credit institutions that have made 14,227 loans totalling more than $1.28 billion.
Almost $130 billion in funding is still available, SBA said.
“We are striking the appropriate balance of providing public transparency, while protecting the payroll and personal income information of small businesses, sole proprietors, and independent contractors,” said Treasury Secretary Steven Mnuchin.
“We value transparency and our fiduciary responsibility to ensure American taxpayer funds are used appropriately,” said SBA Administrator Jovita Carranza.
“This responsibility goes together with the steps we are now taking to provide needed public information in step with protecting entrepreneurs’ personally identifiable information associated with their business loan,” she said.
“Small businesses are the driving force of our economic stability and are leading the way to allow our nation to rebound safely.”
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The House passed S.4054, the Grain Standards Reauthorization Act of 2020, by voice vote.