Find out who has obtained PPP loans in your neighborhood
The Paycheck Protection Program awarded an estimated $ 16 billion to 128,159 Michigan small businesses and nonprofits during the first two P3 funding cycles. And you can use that map and that database to find out who’s got a loan.
The federal government created the PPP through the CARES Act of 2020. It aims to help business owners keep staff on payroll in the wake of the pandemic and public health restrictions ordered by the ‘State – a boost that has reduced the income of many companies. Businesses can apply for the program through a lender. PPP loans were made to be repayable and converted into grants, provided the borrower fulfills all the conditions of the program.
Loan data was hard for journalists to find – although they provided information on loan recipients in the past, the U.S. Small Business Administration did not make this information accessible in multiple FOIA requests. . Five editorial staff then sued the SBA.
One of the newsrooms, Reveal, shared its data with local newsrooms after discovering disparities between the country’s 52 major metros.
White Neighborhoods Received PPP Loans At Double The Rate From Detroit’s Latin American Subway Communities
Find out which Michigan companies have received PPP loans near you. Use the search bar below to browse for businesses, postal codes or industry. You can also sort the columns by clicking on the column name.
Or explore the map below to take a look around.
Make sure to use the zoom controls and the search bar to get a better view of businesses. They can overlap. Hover or click on the dots to read the details. If you are looking for, enter the address and City Name.
This story has been supplemented with information from Reveal’s reporting networks. revealnews.org / network. This analysis uses the same methodology at Reveal, which you can read here. The way the analysis calculates the eligible business loan rate is to calculate the number of loans in a census tract divided by the number of eligible businesses in the same census tract.