PROVIDENCE– Who in Rhode Island got a chunk of the $1 billion in Paycheck Protection Program loans doled out in 2021 will soon be revealed.
Isabel Guzman, who heads the U.S. Small Business Administration, told The Business Journals in a recent interview that the agency plans to publish details on the second round of the popular payroll funding program, though an exact date was not specified. The SBA previously made public a tranche of information about the loans distributed in a 2020 following a court battle with several newspapers and the Center for Public Integrity.
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The prior information release included the names of each small business or other entity that received a loan, the amount of the loan, their address and in some cases demographic information about the owners.
The SBA has until the end of June to finalize loans still-in progress under the second round, which began in January. As of May 31, the latest update, more than 17,000 local businesses, nonprofits and other eligible entities had been approved for a combined $1 billion in funds.
Nationwide, the second-round program has provided $277.7 billion across 6.7 million loans.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
