The loans from the Paycheck Protection Program (PPP) aim to address the economic consequences of the pandemic with payroll support for small businesses. The first run of the program distributed two rounds of funding from April to August; the latest stimulus package allocates funding to restart it. Earlier in December, the Small Business Administration (SBA) released detailed information on loan approvals through August 8, when the program initially ended.
Importantly, the loan-level dataset does not account for all the approvals reported by the SBA in its summary statement of the program, missing about 55,300 loans representing almost $2.1 billion. There is also incomplete reporting among the loans included in the data, with around 1% missing at least state, city, or zip code information. But this dataset, when used along with the SBA summary reporting, still provides the most complete accounting to date of the program.
