# How to read a record — U.S. employers whose PPP loan was charged off

> What the record is, what the status means, and what is left out.

## How to read these records

### Which employers

Five tests, all from the SBA's PPP file of loans over $150,000: the loan status is “Charged Off”; the borrower
reported 50 jobs or more; the borrower is a company (corporation, LLC, partnership) — not a sole proprietor, a
self-employed individual or a non-profit; its name carries a company word (Inc, LLC, Corp, Company…), so that no
person's name is published; and it is not in health care, social assistance or education (NAICS 61 and 62). A
business with two loans appears once, with the larger number of jobs.

### What “charged off” means

The lender wrote the loan off as a loss after the borrower stopped paying. It is often the sign of a business
that closed or went bankrupt — but not always: some were sold, restructured, or are still disputing the debt.

### Jobs reported

The number of jobs the borrower declared on its application in 2020 or 2021 — its own statement, not checked by
the SBA. Some charged-off loans were obtained with false information, which a very short time between approval and
charge-off can suggest. It is not today's headcount.

### What is not here

Any amount. Street addresses: only the city and state. Owners' names and any attribute of the owners (the SBA file
carries race, ethnicity, gender and veteran fields, which this site never reads). Sole proprietors and non-profits.
Loans of $150,000 or less.

**Do you control the records of a company that has closed?**

The internal data of a company that employed 50 people or more (Slack or Microsoft Teams archive, documentation, project histories) may still have value after it has stopped operating.

[Check whether this company’s data qualifies →](/pro.md) We are paid by the buyer if a partnership is signed, never by the company. Whether personal data in those archives can be transferred is a legal question for whoever controls them. Not affiliated with the U.S. Small Business Administration.

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Página: https://ppp-charged-off-employer-records.pages.dev/how-to-read/
Fonte: https://data.sba.gov/dataset/ppp-foia
Recolha: 2024-09-30