Small Business Administration: Paycheck Protection Program (PPP) Loans, 7(a) Loans, and 504 Loans
| Details | Borrower information, loan information, originating lender information |
|---|---|
| Topics | small business loans, economic development, COVID-19 |
| Source | Small Business Administration (SBA) |
| Years Available | 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024 |
| Geographies | point |
| Public Edition or Subscriber-only | Public Edition |
| Download Available | yes |
| For more information | https://data.sba.gov/dataset/ppp-foiahttps://data.sba.gov/dataset/7-a-504-foia |
| Last updated on PolicyMap | December 2024 |
Description:
Paycheck Protection Program:
The Paycheck Protection Program (PPP), administered by the Small Business Administration (SBA), was a forgivable loan program for small businesses signed into law in response to the threat to small businesses and their employees posed by the COVID-19 economic downturn. The PPP Loan program enabled businesses meeting certain criteria to apply for loans to be used for payroll and other expenses. Provided businesses met all requirements, the loans would then be forgiven.
Information on businesses that received PPP loans greater than $150,000 dollars are represented in the PPP Loan Recipient dataset on PolicyMap and are broken down by reported industry based on 2 digit NAICS codes. Information about the businesses, including business name, business owner details, and industry (both 2 and 6 digit NAICS codes) are published here “as is” from the original SBA data.
PolicyMap supplemented the data from the SBA by providing business sector and business descriptions based on reported 2 and 6 digit NAICS codes pulled from the Census Bureau’s published list of NAICS codes. PolicyMap also flagged businesses as “minority-owned” if the reported owner race was a race other than white and if the reported owner ethnicity was an ethnicity other than non-Hispanic. Businesses without reported owner race/ethnicity were not flagged as minority-owned.
7(a) Loans:
The 7(a) loan program, administered by the Small Business Administration (SBA), is the most common loan program. The loan can be used for: short and long-term working capital, refinancing current business debt, purchasing furniture, fixtures, supplies, and real estate. There is a maximum $5 million loan amount for borrowers. Information on additional uses can be found on the SBA site.
Information on the businesses that received 7(a) loans up to $5,000,000 dollars are represented on PolicyMap. Users can filter by various criteria like industry, loan amount, and business type under the toggle. Information about the businesses, including business name, business owner details, and industry (both 2 and 6-digit NAICS codes) are published here “as is” from the original SBA data.
PolicyMap supplemented the data from the SBA by providing business sector and business descriptions based on reported 2 and 6 digit NAICS codes pulled from the Census Bureau’s published list of NAICS codes.
To increase the useability of the SBA 7(a) loan data, extensive data cleaning was required due to a significant number of duplicate entries and presumed manual entry mistakes. The primary fields used to identify unique loans were:
- Name (BorrName)
- Bank Name (BankName)
- Gross Approval Amount (GrossApproval)
- SBA Guaranteed Approval Amount (SBAGuaranteedApproval)
- Approval Date (ApprovalDate)
- First Disbursement Date (FirstDisbursementDate)
- Initial Interest Rate (InitialInterestRate)
- Loan Status (LoanStatus)
- Geocoded coordinates ([x], [y])
For fields where multiple values existed due to duplicates, we aggregated these values into a single entry.
504 Loans:
The 504-loan program, administered by the Small Business Administration (SBA), provides long-term, fixed rate financing of up to $5,000,000 for major fixed assets that promote business growth and job creation. The loans are available through Certified Development Companies (CDCs), community-based partners who regulate nonprofits and promote economic development in their communities, are regulated and certified by SBA. Eligibility is based on SBA criteria.
Information on the businesses that received 504 loans up to $5,000,000 dollars are represented on PolicyMap. Users can filter by various criteria like industry, loan amount, and business type under the toggle. Information about the businesses, including business name, business owner details, and industry (both 2 and 6-digit NAICS codes) are published here “as is” from the original SBA data.
PolicyMap supplemented the data from the SBA by providing business sector and business descriptions based on reported 2 and 6 digit NAICS codes pulled from the Census Bureau’s published list of NAICS codes.