How to Find Out How Much PPP a Company Received
In the wake of the COVID-19 pandemic, the Paycheck Protection Program (PPP) was introduced by the U.S. government to provide financial assistance to small businesses. The program aimed to help businesses cover their payroll costs, rent, and utilities during the crisis. However, many businesses are still in the dark about how much PPP funding their competitors received. If you’re curious about how much PPP a specific company received, here’s a guide on how to find out.
1. Search the PPP Loan Data Repository
The U.S. Small Business Administration (SBA) maintains a public database of PPP loan information. This database includes details about the loans provided to businesses, such as the loan amount, the business’s name, and the address. To find out how much PPP funding a company received, follow these steps:
1. Visit the SBA’s PPP Loan Data Repository at https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp.
2. Use the search function to look up the company by name or address.
3. Review the search results to find the loan amount provided to the company.
2. Contact the Company Directly
If you can’t find the information you need in the PPP Loan Data Repository, you can try contacting the company directly. While some businesses may be willing to share their PPP loan amount, others may not. Here’s how to reach out to the company:
1. Find the company’s contact information, such as their website or phone number.
2. Send an email or make a phone call to ask about their PPP loan amount.
3. Be prepared for the possibility that the company may not be willing to share this information.
3. Use Social Media and News Outlets
If the company isn’t willing to share their PPP loan amount, you can try searching for information on social media or news outlets. Some businesses may have announced their PPP loan amounts on platforms like Twitter, Facebook, or LinkedIn. Additionally, local news outlets may have covered the story and provided the information you’re looking for.
4. Monitor the SBA’s Updates
The SBA regularly updates the PPP Loan Data Repository with new information. If you can’t find the information you need right away, be sure to check back periodically. The SBA may also provide updates on their website or through press releases.
In conclusion, finding out how much PPP a company received can be a challenging task. However, by utilizing the SBA’s PPP Loan Data Repository, contacting the company directly, searching social media and news outlets, and monitoring the SBA’s updates, you can increase your chances of obtaining the information you need. Keep in mind that some businesses may not be willing to share their PPP loan amounts, so be prepared for this possibility.
