Another 1,377 did not list the number of employees they had.Ĭhavez said demographic information is voluntary and legally, federal fair lending laws have prohibited lenders from seeking these types of data.īut details on how many jobs were retained will be collected as companies request loan forgiveness. Most applicants didn’t answer the questions about the business owner’s race, gender or veteran status. There was also a lot of missing information in the SBA data. See the searchable list of Colorado companies at end of story. “I am not sure why the data does not reflect the final dispersed loan amount. Most likely the $1 is an error by the lender – (they) may have forgot some zeros, but I assume the loan amount was corrected by the lender and the amount dispersed is more that $1.” “The public data reflects approved loans, which does not mean that the loan has been disbursed or funded,” Chavez said in an email. That’s probably an error too, Chavez said. In another case, one loan to a Silverthorne business was reported at $1. The bank did not respond to questions about the error.
The amount was adjusted prior to disbursement, but the new amount is not reflected in the new data.
In Snappy Nails’ case, Chavez said that after some investigating, the SBA learned the larger loan amount was due to a data-entry error by the lender, Bank of the West. Pham did not respond to questions from The Colorado Sun.Ĭhristopher Chavez, a spokesman for the regional office of the SBA, said the official list of paycheck loan recipients was based on initial approvals and does not indicate the company accepted and used the money. Owner Vinh Pham spoke to 9News reporter Steve Staeger and said the loans were less than $100,000. $1 loans? $10 million for a nail salon? Colorado's federal coronavirus loan data has some eye-popping errors - The Colorado Sun CloseĪn employee who answered the phone Tuesday at the Snappy Nails in Broomfield said the company did get a PPP loan, but for much less.
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