PPP Recipient Data Availability
The SBA has made PPP recipient data publicly available. This was outlined in the SBA Inspector General Identity Theft and Fraud Report. The PPP is part of the CARES Act, which passed in response to the pandemic.
Over 11.7 million PPP loans have been made, totaling nearly $800 billion. The database allows users to search by industry, lender, and dollar amount. At least 4,840 companies have received more than $5 million.
Overview of PPP Loans and ERC
The ERC is a tax credit for staff member earnings. This credit can now be claimed with PPP loan forgiveness. The ERC is available to both large and small employers.
For second PPP loans, the maximum amount is $2 million. Businesses must demonstrate a 25 percent revenue reduction between 2019 and 2020 quarters. Lender-approved PPP loans of $150,000 or more are included in this searchable database.
Future of PPP Funding
It seems unlikely there will be additional PPP funding in 2022. The government extended PPP terms once in October 2020. No further pandemic preparedness funding has been announced.