Wednesday, July 08, 2020

Mapping Paycheck Protection Payments

In response to the devastating effect of Covid-19 on the economy the US government has initiated the Paycheck Protection Program (PPP). PPP is a business loan program which provides low-interest loans to companies to help with payroll and other costs.

On Monday the Small Business Administration released the data on the companies who have received loans under the PPP program. Open The Books  has now mapped that data to show the location of all the companies which have received loans in excess of $1 million.

The Open The Books map is very good for finding companies which have received PPP loans by location. If you enter a zip-code into the map you can view a list (beneath the map) of all the local companies which have received loans over $1 million within that neighborhood. However the map is not searchable by company name. This means it is a hard to discover whether individual companies have received a PPP loan, unless you know where the company headquarters are physically located.

PPP loans do not have to be repaid if a company retains all of its employees and the company doesn't reduce employee wages.

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