{
  "source_ledger": [
    {
      "id": "PJ1",
      "document": "Remarks by President Trump on Supporting our Nation's Small Businesses Through the Paycheck Protection Program",
      "url": "https://trumpwhitehouse.archives.gov/briefings-statements/remarks-president-trump-supporting-nations-small-businesses-paycheck-protection-program/",
      "published": "2020-04-28",
      "section": "East Room presidential remarks",
      "role": "contemporaneous",
      "packet_file": "claims-and-rule.txt"
    },
    {
      "id": "PJ2",
      "document": "Business Loan Program Temporary Changes Paycheck Protection Program initial interim final rule",
      "url": "https://www.govinfo.gov/content/pkg/FR-2020-04-15/pdf/2020-07672.pdf",
      "published": "2020-04-15",
      "section": "Federal Register 85 FR 20811-20816 sections III.1 III.2 and III.3",
      "role": "contemporaneous",
      "packet_file": "claims-and-rule.txt"
    },
    {
      "id": "PJ3",
      "document": "SBA and Treasury Announce Release of Paycheck Protection Program Loan Data",
      "url": "https://home.treasury.gov/news/press-releases/sm1052",
      "published": "2020-07-06",
      "section": "full press release",
      "role": "contemporaneous",
      "packet_file": "claims-and-rule.txt"
    },
    {
      "id": "PJ4",
      "document": "Paycheck Protection Program Report Approvals through June 30 2020",
      "url": "https://home.treasury.gov/system/files/136/PPP-Results-Sunday.pdf",
      "published": "2020-07-06",
      "section": "PDF pages 2-4 13 and 16 government published aggregation of loan data",
      "role": "contemporaneous",
      "packet_file": "loan-summary.txt"
    },
    {
      "id": "PJ7",
      "document": "July 2020 original SBA PPP loan-level Delaware up-to-150k CSV mirrored on July 6",
      "url": "https://raw.githubusercontent.com/sbooeshaghi/SBA-PPP-Loan-Data/a14001cf78507c9c7ed323114d8695cf47d42921/under_150k/Delaware/foia_up_to_150k_DE.csv",
      "published": "2020-07-06",
      "section": "original CSV immutable archive commit at 20:54 UTC selected loan-size aggregates and reproducible sample in loan-slice.txt",
      "role": "contemporaneous",
      "packet_file": "loan-slice.txt"
    }
  ],
  "upstream_hashes": {
    "PJ4_pdf_sha256": "38c3e23a3a86b6f7ac2855a5c44e2a86f8c6ab70fd3abdf6e3c7c35524135508",
    "PJ7_csv_sha256": "381235069500f0e724a24c85cd3e541db9de71101bb32199c02f9407e3ade925",
    "PJ7_sample_sha256": "0a8f8045e1d150fbc8112fd06b0ce4a6f9e73b5375e8408fd98767b1f62c4ac2"
  },
  "source_header": [
    "LoanAmount",
    "City",
    "State",
    "Zip",
    "NAICSCode",
    "BusinessType",
    "RaceEthnicity",
    "Gender",
    "Veteran",
    "NonProfit",
    "JobsRetained",
    "DateApproved",
    "Lender",
    "CD"
  ],
  "sample_method": "sorted(random.Random(20200706).sample(range(10431),20))",
  "dated_record": {
    "april_remarks_date": "2020-04-28",
    "july_release_date": "2020-07-06",
    "quotes": [
      "The first round of funding provided more than 1.6 million small businesses with over $340 billion so that American workers can retain their jobs, receive their paychecks, and help our economy take off quickly once America reopens for business, which is happening right now as we sit.",
      "Our swift action supported or saved 30 million American jobs at least. And last week, Congress answered our call to replenish the program, and I was honored to sign an additional $320 billion for American workers into law.",
      "SBA will allow lenders to rely on certifications of the borrower in order to determine eligibility of the borrower and use of loan proceeds and to rely on specified documents provided by the borrower to determine qualifying loan amount and eligibility for loan forgiveness.",
      "The funds will be used to retain workers and maintain payroll or make mortgage interest payments, lease payments, and utility payments; I understand that if the funds are knowingly used for unauthorized purposes, the Federal Government may hold me legally liable such as for charges of fraud.",
      "Documentation verifying the number of full-time equivalent employees on payroll as well as the dollar amounts of payroll costs, covered mortgage interest payments, covered rent payments, and covered utilities for the eight week period following this loan will be provided to the lender.",
      "The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP).  This disclosure covers each of the 4.9 million PPP loans that have been made.",
      "The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,",
      "Today’s release includes loan-level data, including business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender, jobs supported, and loan amount ranges as follows:",
      "For all loans below $150,000, SBA is releasing all of the above information except for business names and addresses."
    ]
  },
  "national": {
    "loans": 4885388,
    "net_approved_usd": 521483817756,
    "jobs_reported": 51125937,
    "lenders": 5461,
    "benchmark_small_business_employees": 59900000
  },
  "national_lender_asset_buckets": [
    {
      "label": "$100M and Under",
      "loans": 148167,
      "net_approved_billions_printed": "11.5",
      "jobs_reported": 1253003,
      "lenders": 1117
    },
    {
      "label": "$>100M - $500M",
      "loans": 522037,
      "net_approved_billions_printed": "43.8",
      "jobs_reported": 5102159,
      "lenders": 2623
    },
    {
      "label": ">$500M - $1B",
      "loans": 685532,
      "net_approved_billions_printed": "45.4",
      "jobs_reported": 4944364,
      "lenders": 761
    },
    {
      "label": ">$1B - $5B",
      "loans": 890007,
      "net_approved_billions_printed": "95.2",
      "jobs_reported": 9698005,
      "lenders": 733
    },
    {
      "label": ">$5B - $10B",
      "loans": 259841,
      "net_approved_billions_printed": "35.2",
      "jobs_reported": 3297529,
      "lenders": 104
    },
    {
      "label": ">$10B - $50B",
      "loans": 739912,
      "net_approved_billions_printed": "100.7",
      "jobs_reported": 9595633,
      "lenders": 89
    },
    {
      "label": ">$50B",
      "loans": 1639892,
      "net_approved_billions_printed": "189.8",
      "jobs_reported": 17235244,
      "lenders": 34
    }
  ],
  "national_loan_size_buckets": [
    {
      "label": "$50K and Under",
      "loans": 3262529,
      "net_approved_usd": 58652110621,
      "printed_count_percent": "66.8",
      "printed_amount_percent": "11.2"
    },
    {
      "label": ">$50K - $100K",
      "loans": 673563,
      "net_approved_usd": 47963195310,
      "printed_count_percent": "13.8",
      "printed_amount_percent": "9.2"
    },
    {
      "label": ">$100K - $150K",
      "loans": 291019,
      "net_approved_usd": 35626300937,
      "printed_count_percent": "6.0",
      "printed_amount_percent": "6.8"
    },
    {
      "label": ">$150K - $350K",
      "loans": 376113,
      "net_approved_usd": 84452629388,
      "printed_count_percent": "7.7",
      "printed_amount_percent": "16.2"
    },
    {
      "label": ">$350K - $1M",
      "loans": 199456,
      "net_approved_usd": 113442814223,
      "printed_count_percent": "4.1",
      "printed_amount_percent": "21.8"
    },
    {
      "label": ">$1M - $2M",
      "loans": 53030,
      "net_approved_usd": 73522278271,
      "printed_count_percent": "1.1",
      "printed_amount_percent": "14.1"
    },
    {
      "label": ">$2M - $5M",
      "loans": 24838,
      "net_approved_usd": 73841502099,
      "printed_count_percent": "0.5",
      "printed_amount_percent": "14.2"
    },
    {
      "label": ">$5M",
      "loans": 4840,
      "net_approved_usd": 33982986907,
      "printed_count_percent": "0.1",
      "printed_amount_percent": "6.5"
    }
  ],
  "delaware_loan_size_groups": [
    {
      "label": "<=50k",
      "loans": 7643,
      "amount_usd": "148773586.78",
      "jobs_field_present": 6693,
      "jobs_field_blank": 950,
      "jobs_field_zero": 1439,
      "jobs_field_nonblank_sum": 20706
    },
    {
      "label": ">50k-100k",
      "loans": 1926,
      "amount_usd": "138432380.53",
      "jobs_field_present": 1704,
      "jobs_field_blank": 222,
      "jobs_field_zero": 244,
      "jobs_field_nonblank_sum": 15243
    },
    {
      "label": ">100k-150k",
      "loans": 862,
      "amount_usd": "104952525.95",
      "jobs_field_present": 756,
      "jobs_field_blank": 106,
      "jobs_field_zero": 79,
      "jobs_field_nonblank_sum": 11465
    }
  ],
  "delaware_sample_rows": [
    {
      "row_1_based": 205,
      "LoanAmount": "133400",
      "JobsRetained": "19",
      "DateApproved": "05/03/2020"
    },
    {
      "row_1_based": 295,
      "LoanAmount": "127600",
      "JobsRetained": "28",
      "DateApproved": "05/03/2020"
    },
    {
      "row_1_based": 367,
      "LoanAmount": "123486",
      "JobsRetained": "0",
      "DateApproved": "04/08/2020"
    },
    {
      "row_1_based": 517,
      "LoanAmount": "115600",
      "JobsRetained": "30",
      "DateApproved": "05/14/2020"
    },
    {
      "row_1_based": 1036,
      "LoanAmount": "93200",
      "JobsRetained": "",
      "DateApproved": "04/30/2020"
    },
    {
      "row_1_based": 1231,
      "LoanAmount": "87000",
      "JobsRetained": "8",
      "DateApproved": "05/03/2020"
    },
    {
      "row_1_based": 1265,
      "LoanAmount": "85864.6",
      "JobsRetained": "8",
      "DateApproved": "04/29/2020"
    },
    {
      "row_1_based": 1325,
      "LoanAmount": "83750",
      "JobsRetained": "9",
      "DateApproved": "04/14/2020"
    },
    {
      "row_1_based": 1809,
      "LoanAmount": "70780",
      "JobsRetained": "7",
      "DateApproved": "04/15/2020"
    },
    {
      "row_1_based": 2049,
      "LoanAmount": "64700",
      "JobsRetained": "6",
      "DateApproved": "04/15/2020"
    },
    {
      "row_1_based": 2167,
      "LoanAmount": "62500",
      "JobsRetained": "15",
      "DateApproved": "04/30/2020"
    },
    {
      "row_1_based": 3084,
      "LoanAmount": "46100",
      "JobsRetained": "5",
      "DateApproved": "04/14/2020"
    },
    {
      "row_1_based": 3271,
      "LoanAmount": "43600",
      "JobsRetained": "6",
      "DateApproved": "04/15/2020"
    },
    {
      "row_1_based": 6497,
      "LoanAmount": "18090",
      "JobsRetained": "0",
      "DateApproved": "05/02/2020"
    },
    {
      "row_1_based": 8058,
      "LoanAmount": "10515",
      "JobsRetained": "1",
      "DateApproved": "06/30/2020"
    },
    {
      "row_1_based": 8176,
      "LoanAmount": "10000",
      "JobsRetained": "2",
      "DateApproved": "04/16/2020"
    },
    {
      "row_1_based": 8739,
      "LoanAmount": "7800",
      "JobsRetained": "",
      "DateApproved": "04/16/2020"
    },
    {
      "row_1_based": 8777,
      "LoanAmount": "7660",
      "JobsRetained": "",
      "DateApproved": "06/24/2020"
    },
    {
      "row_1_based": 9101,
      "LoanAmount": "6500",
      "JobsRetained": "4",
      "DateApproved": "04/14/2020"
    },
    {
      "row_1_based": 9352,
      "LoanAmount": "5627",
      "JobsRetained": "0",
      "DateApproved": "04/14/2020"
    }
  ],
  "delaware_totals": {
    "loans": 10431,
    "amount_usd": "392158493.26",
    "jobs_field_present": 9153,
    "jobs_field_blank": 1278,
    "jobs_field_zero": 1762,
    "jobs_field_nonblank_sum": 47414
  },
  "reconciliations": {
    "lender_loans": 4885388,
    "lender_jobs": 51125937,
    "lender_count": 5461,
    "lender_printed_billions": "521.6",
    "loan_size_loans": 4885388,
    "loan_size_net_approved_usd": 521483817756,
    "national_jobs_per_loan": 10.47,
    "reported_jobs_to_benchmark_percent": 85.35
  },
  "editorial_call": "Publish a narrower alternative, not the causal jobs-saved claim.",
  "april_knowable": "On April 28 the initial program rule stated a payroll-retention purpose and borrower certifications; the remarks supplied a 30 million supported-or-saved assertion, not an observed counterfactual.",
  "july_new": "By July 6 the release made the June 30 net approvals and borrower-reported jobs exposure public: 4,885,388 loans and 51,125,937 reported jobs. The Delaware original-vintage slice is a separate, narrower source.",
  "caveats": [
    "April remarks precede June 30 approvals and the July 6 release; their denominators and rounds differ.",
    "Lender asset-size buckets are not borrower loan-size buckets; the national loan-size distribution contains no jobs breakout.",
    "The Delaware original-vintage JobsRetained field is not a national jobs-by-loan-size measure; blanks are missing, not zero.",
    "Net approved dollars after cancellations are not observed disbursements, forgiveness or payroll expenditure.",
    "Reported workforce exposure is not a measured jobs effect; rule intent and certification are not outcomes."
  ],
  "unknowns": [
    "Jobs retained absent PPP (a credible counterfactual)",
    "Pre-program and post-program employment on comparable definitions and dates",
    "Which approved loans were disbursed, spent on payroll or forgiven",
    "Whether workers or jobs reported for different loans overlap"
  ]
}