Trump Administration must release PPP Data Immediately

On the Trump administration’s decision not to release the the SBA loan data, Executive Director of the Main Street Alliance Amanda Ballantyne had this to say:

“Without transparency as to which businesses received the taxpayer funded Paycheck Protection Program, it will be impossible to assess whether the program actually achieved its goals of helping small businesses and maintaining employment during the COVID crisis. It is ridiculous that the Trump Administration would withhold this information and suggests the possibility that they have something to hide.  Bureau of Labor Statistics data has shown that Latinx and Black small business owners have shuttered at 1.5 times and double the rate respectively, compared to overall small businesses, which suggests that federal relief programs are not flowing equitably. Without data on the PPP loan program, we risk not identifying major gaps, and continuing to exacerbate wealth inequality in the country.

The administration must release this information immediately, if they want to prioritize equitable results. It is a vital step to rectifying the major design flaws of this program and highlighting where we need to redouble our efforts in supporting an economic recovery.”