SBA Releases PPP Loan Data
Disclosed details vary based on loan amount
July 7, 2020 – Albuquerque, NM – On Monday, July 6, the Small Business Administration (SBA) released Paycheck Protection Program (PPP) loan data at the request of Congress, media and others given the significant taxpayer commitment to the program. This was not a decision made by New Mexico Bank & Trust or any other bank that participated in the government program.
Names of borrowers with a PPP loan for less than $150,000 were not disclosed. Only the city, state, zip code, number of employees that benefited, and the congressional district were disclosed for these loans, along with the name of the lender that made the loan.
For PPP loans of $150,000 or more, the SBA released the borrower’s name in addition to the business location, number of employees that benefitted and the congressional district. The SBA released a dollar range for these loans, not the exact amounts.
“New Mexico Bank & Trust is proud to have helped hundreds of small businesses during this difficult and challenging time,” said R. Greg Leyendecker, President and CEO of New Mexico Bank & Trust. “We’ve processed 764 PPP loans totaling $106 million, preserving more than 13,512 jobs.”
To date, banks of all sizes have provided more than $500 billion in PPP loans to small businesses across the country, helping to preserve 51 million jobs, according to the Small Business Administration. The size, scale and speed of the banking industry’s response was unprecedented, and New Mexico Bank & Trust was honored to be a part of this important effort.
There is still more work to do to help businesses overcome the economic effects of the pandemic. New Mexico Bank & Trust will continue to support our business customers as we do our part to help fuel the economic recovery in our community.
About New Mexico Bank & Trust
New Mexico Bank & Trust, a subsidiary of Heartland Financial USA, Inc., (NASDAQ: HTLF), is a state-chartered bank with more than $1.7 billion in assets and headquartered in Albuquerque, NM. New Mexico Bank & Trust operates 17 banking locations serving Central, Eastern and Northern New Mexico. The bank specializes in business lending and deposit services, and provides private client, investment, treasury management, card services, and complete electronic banking programs to individuals and businesses. The company was founded in 1998. Additional information about New Mexico Bank & Trust is available at www.nmb-t.com. New Mexico Bank & Trust is a member of the FDIC and an Equal Housing Lender.
About Heartland Financial USA, Inc.
Heartland Financial USA, Inc. is a diversified financial services company with assets of $13.3 billion. The company provides banking, mortgage, private client, investment and insurance services to individuals and businesses. Heartland currently has 114 banking locations serving 83 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California. Additional information about Heartland Financial USA, Inc. is available at www.htlf.com.
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