SBA seeks to delay release of loan records following court order

WASHINGTON» The Small Business Administration has asked a federal judge to delay release of records involving millions of small businesses that received Paycheck Protection Program loans, arguing that publicizing it would do “irreparable harm” to millions of businesses by exposing allegedly confidential information.

A federal judge ruled on Nov. 5 that the SBA must release borrower and loan information about the federal Paycheck Protection Program by Nov. 19. The Washington Post and 10 other news organizations prevailed in a Freedom of Information Act lawsuit to win the information’s release. But in a Nov. 12 court filing the agency said it needed more time to determine whether it should appeal.

The agency doubled down on its long-held position that revealing the loan totals would indirectly expose private companies’ payroll information, an argument the judge rejected. An SBA representative declined to comment Friday on whether the agency plans to appeal.

Congress approved the Paycheck Protection Program in March as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It was intended to keep workers paid and companies open during the coronavirus pandemic and lockdown.