SBA recently released July 1 data for PPP loans that, for the first time, includes forgiveness amounts. They also released a set the first set of data on RR grantees. (SBA data sets can be found HERE).
SBA doesn’t make it easy but it is possible to cross reference those data sets by recipient name to identify RR grantees who also received PPP loans.
Adding together the amount of current PPP forgiveness and the RR grant provides a CURRENT total of federal funding for recipients with both PPP loans and RR grants. (This will increase in the future as more PPP forgiveness occurs; only about 53% of all Oregon PPP current approved loan amounts have been forgiven).
Oregon Double Dip Data
There were 1,376 Oregon businesses with both a RR grant and a PPP loan. That's 59% of all 2,336 Oregon businesses with RR grants.
Currently those businesses have received a total of $371M in federal funding, with $326 M from RR grants and $65M from current PPP loan forgiveness.
Note that this does NOT include the federal OR state income tax revenue lost as a result of continuing allowable deductions for PPP interest and the non taxation of loan forgiveness.
For Oregon this May Legislative Revenue Office estimate puts the Oregon PPP revenue impact at $450-$600 million. (HT to the Oregonian for including link in their story HERE).
I hope to publish a workbook later with a full set of Oregon PPP and RR data but for now the table pasted below has my total statewide CURRENT federal funding calculations for recipients who have both RR grants and PPP loans:
Originally created and posted on the Oregon Housing Blog.
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