The Small Business Administration has released more detailed information on businesses that received loans from the agency to keep workers employed.

The new information includes the names of businesses who received loan amounts of $150,000 or less. This searchable data base includes the names and specific locations of 1,594 businesses in Champaign and Urbana that received assistance under the Paycheck Protection Program.

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.

According to the SBA, the loans have an interest rate of 1% and loans issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.

Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower’s loan forgiveness amount to the lender.

If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks). No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.