PPP Loan Details To Be Given To Media
News organizations throughout the United States must receive the names of paycheck protection program (PPP) borrowers as well as the amounts they were given should they request the information.
The mandate to supply media with the loan details under the Freedom of Information Act is the result of a decision made by U.S. District Judge James Boasberg, reports the Associated Press.
Boasberg's ruling requires the Small Business Administration (SBA) to provide the information. He said the information must be made sharable because the public has an interest in seeing how their tax dollars are spent. He also said the review of the information helps to evaluate whether or not the PPP program is being carried out correctly.
The Paycheck Protection Program has helped many businesses since it was unveiled earlier this year, and some of these businesses have seen their loans forgiven. A third edition of the PPP Loan Forgiveness Application, this one for businesses who took out loans of $50,000 or less, was released last month.
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