Payment Protection Plan (PPP) Loan Data

On Tuesday, December 1, the Small Business Administration released the updated detailed PPP nationwide data for all loans through November 24, 2020, as mandated by the court ruling.  The RiskExec team has downloaded this updated data, inspected it, and updated the PPP Peer set available in the Peer Analysis module.

The prior data released for loans funded through August 8, 2020, did not include Business Name or Street Address for loans <$150K, which only allowed for Zip Centroiding.  For loans >=$150K, the exact Loan Amount was not released.  This week’s release includes Business Name, Address-City-State-Zipcode, and exact Loan Amounts for all records.  The updated information allows for more accurate reporting. However, it should be noted that the RiskExec geocoding result is subject to the quality of the address data provided on the SBA application, i.e. P.O. Box or other non-physical address information being used.  Due to this, the RiskExec PPP peer data may vary from an institution’s internal PPP data sets where a full physical address may have been available for geocoding.  For this reason, it is recommended that institutions use a three-line comparison for internal reporting of PPP performance and peer comparison: 1) PPP Peer Aggregate Data, 2) PPP Peer Institution Data, and 3) PPP Actual Institution Data.

EIDL Notation:  In addition to the updated PPP data released this week by the SBA, datasets for EIDL (Economic Injury Disaster Loans and Loan Advances) were released for the first time.  This data is being reviewed and more information will follow soon on its availability in RiskExec.

Geocoding

RiskExec has developed an all-new Geocoder that has several advantages over the old geocoding system.  We have added a new geocoding partner named Geocodio that is now the primary geocoding source that will be used to geocode a single record or an entire file.  RiskExec continues its partnerships with Bing and Nokia/Here.  These geocoding systems will be run if Geocodio is unable to geocode the data provided to RiskExec. Please note that all existing RiskExec geocodes obtained prior to December 2, 2020, will be maintained as is in the system and will not be changed.

RiskExe’s new geocoder adds improved parsing of addresses as well as new sources of geocoding data layers, which will enable RiskExec to geocode more addresses accurately.  RiskExec will now have additional information on the source of the geocoded data such as municipal authority, county GIS, etc.

The new RiskExec Geocoder is orders of magnitude faster than the previous system.  This new system is capable of geocoding up to 1 million records per hour depending on the quality of the address data provided. This will greatly reduce the time users have to wait to get their data geocoded.

Lastly, the new Geocoder’s architecture will allow RiskExec to quickly and easily add new geocoding sources when they are released (e.g. the planned CFPB Geocoder).  For any questions or more information on RiskExec’s new Geocoder, please reach out to our support team at RiskExec.support@asurity.com. 

Miscellaneous

Data on the median rent in a census tract has been added to the Census Tract Demographics tab found on the application detail page in both the HMDA and CRA modules.  This data is obtained from the annual FFIEC Census tables as they are released for HMDA/CRA use.