On Monday, July 6, the Small Business Administration (SBA) released Paycheck Protection Program (PPP) loan data at the request of Congress, media, and others given the significant taxpayer commitment to the program. This was not a decision made by Dubuque Bank and Trust or any other bank that participated in the government program.
Names of borrowers with a PPP loan for less than $150,000 were not disclosed. Only the city, state, zip code, number of employees that benefited, and the congressional district were disclosed for these loans, along with the name of the lender that made the loan.
For PPP loans of $150,000 or more, the SBA released the borrower’s name in addition to the business location, number of employees that benefitted and the congressional district. The SBA released a dollar range for these loans, not the exact amounts.
To date, banks of all sizes have provided more than $500 billion in PPP loans to small businesses across the country, helping to preserve 51 million jobs, according to the Small Business Administration. There is still more work to do to help businesses overcome the economic effects of the pandemic. Dubuque Bank and Trust will continue to support business customers and help fuel the economic recovery.