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Derived table · PPP

PPP charge-offs by originating lender

Every lender that made a Paycheck Protection Program loan, with the number and share of its loans that SBA lists as charged off in its September 30, 2024 loan-level release: 4,689 lenders.

Rows4,689
Columns27
Files1 · 549 KB
FormatCSV
Source vintageSBA PPP loan-level release dated 2024-09-30 (13 files, 11,468,210 rows)
Published byPandemic Darlings
Acquired / built2026-09-24
Built fromSBA PPP loan-level release, September 30, 2024
SHA-25602e30555e754376c663106c0de9dfdd485e693fc30130f9b8d83401d9319a1a7
RightsCompiled from U.S. government public records; attribution to Pandemic Darlings requested for the compiled table.
Dictionarydictionary.csv

Download CSV 549 KBData dictionary CSVAt a glancePreviewColumnsHow to useBefore you quote a row

At a glance

Measured on the served file on 2026-09-24; the checksum above is the file these numbers describe.

Rows4,689
Columns27
Keyoriginating_lender · unique
Cells left blank8,939 of 126,603 · 7.1%
Loans11,468,206
Charged-off loans643,039
Lenders with 20,000+ loans67
Lenders with 5,000+ loans220

What it is

One row is one originating lender, under the name SBA records in the OriginatingLender field. The table covers 11,468,206 loans: every loan in the release except four whose undisbursed amount is at or above the approved amount.

charged_off_loans counts loans whose LoanStatus is "Charged Off". Each lender's loans are also split by draw, by size (up to $20,833.33 against the rest), and by borrower type (sole proprietors, self-employed individuals and independent contractors against everyone else), and compared with other lenders' loans of the same kind.

Two companion files give the charge-off rate by approval month and draw, and by loan size, borrower type and draw, for all loans.

How it was built

SBA's 13 CSV files were read with Python's standard csv module, with undecodable bytes replaced, so all 11,468,210 rows are read. Amounts are summed in whole cents. Size bands cut at $5,000, $10,000, $20,833.33, $50,000, $150,000, $350,000 and $2,000,000, as in the site's small-loan tables.

expected_charged_off_other_lenders is how many of the lender's loans would have been charged off if each had the charge-off rate of all other lenders' loans in the same draw, size band, borrower group and approval month. The _same_state version adds the borrower's state to that comparison and is computed for the 220 lenders with 5,000 or more loans.

Every figure was computed twice, by two independently written programs, one with Python's csv module and one with pandas: 54 of 54 comparisons agree. Both programs are in code/.

Preview

rank_by_loansoriginating_lenderloanscharged_off_loanscharge_off_rateapproved_usdcharged_off_usdcharged_off_usd_sharepaid_in_full_loansexemption4_loansfirst_draw_loansfirst_draw_charged_offsecond_draw_loanssecond_draw_charged_offsmall_loans_to_20833small_loans_charged_offsole_prop_ic_loanssole_prop_ic_charged_offother_borrower_loansother_borrower_charged_offexpected_charged_off_other_lendersactual_to_expected_other_lendersexpected_charged_off_other_lenders_same_stateactual_to_expected_other_lenders_same_state
1Bank of America, National Association491034102150.02080334411968884.59739084214.960.0214784730797740356961890713407313082473524418611551501429866871412382.190.82513515.170.7558
2Cross River Bank478866722710.15092112894672292.931907907764.020.147961399738685739381660541850501173038987364518318527603491603381192238956.851.855245309.811.595
3JPMorgan Chase Bank, National Association452892101440.02239844111851716.691040168188.810.023584408591889325893807112699920731888984922372031238415073889312017.630.844113072.360.776
4Prestamos CDFI, LLC444780438120.0985036849909471.86722780613.00.1055173616323933642663042570181501242443154437424058094051238971330079229.740.55380654.650.5432
5Harvest Small Business Finance, LLC408173991780.242988186742159.751775638246.930.216892293737152582760337512313214024055393903979213915769760416597157446308.742.141749956.051.9853
6Capital Plus Financial, LLC395359467270.1181896213416269.31826496639.420.1330183352381339434308144336522782391394224466483696624441325697231454634.480.855358795.370.7947
7Benworth Capital311022702380.225834222794691.531068976101.730.253144236339444524780962425632137813308166699012967486818514274205341077.991.709943115.131.6291
8Wells Fargo Bank, National Association28071796820.0344913777713764.69411148536.00.0298422701798562237547967569631715163468679353935265522661970208979.461.07829341.071.0365
9Fountainhead SBF LLC272227343860.1263144126997776.9565608836.870.1370512361161725193639266757858877112660053389826424133868798651834318.411.00235816.370.9601
10Customers Bank249661299000.1197626330041848.56636238899.310.10051121883792416724122346824207554205072264891650832287884578702216548.871.806816808.361.7789

First 10 of 4,689 rows · first 24 of 27 columns (the download has all of them) · cells longer than 60 characters are cut with an ellipsis · shown as text, unformatted.

Files

FileRowsSizeSHA-256
ppp-charge-offs-by-lender.csv
CSV, UTF-8, header row		4,689562,527 B02e30555e754376c663106c0de9dfdd485e693fc30130f9b8d83401d9319a1a7Download ↓
dictionary.csv
data dictionary, 41 rows		41—built with this pageDownload ↓
ppp-charge-offs-by-approval-month.csv
charge-off rate by approval month and draw		231,419 Ba9bfb9fafc6bf4e59c8cb88221ca8250b00caae87b21e6c86b25701a0de2baa1Download ↓
ppp-charge-offs-by-size-and-borrower.csv
charge-off rate by size band, borrower group and draw		402,293 B9bc612c7813dc8d081cf61ccb9fa96d8f7afce7134b688d35cb54b2b56e15786Download ↓
code/reproduce_chargeoffs.py
rebuilds every number from SBA's 13 files		—16,137 Bd95c36eee287a04a721db53cbb0ca5ab4c381a4974d16d1a51ed33e904a7ec17Download ↓
code/check_chargeoffs.py
the second program, written separately with pandas, that recomputes them		—7,927 B156603e57be24013bed5cdeaa903431c52170713562f44faaf5ea94d4043c398Download ↓
code/build_cube.py
builds the comparison cells the first program reads		—5,945 B9af04bb45d2fbba24fdcdc34cf88d984328b3827da5ae4fb93fe0d5c620f5656Download ↓
code/build_state_cells.py
adds the state to the comparison cells		—2,932 Bd5284d0d0ab657784cdde82bed9cc7937fce243e4aa119e4cc1ea656001160e2Download ↓
README.md
what the table is, what it does not measure, and how every number can be checked		—5,542 B304b65ea0c3053a020b4320a9864b20c45468f013bbde3f323e1afe6b2464a4dDownload ↓
SHA256SUMS
SHA-256 of every other file on this page		—0 B—Download ↓

Columns

ColumnType, measuredBlankDistinctRange / valuesMeaning
rank_by_loansinteger04,6891 – 5K · median 2KRank of the lender by number of loans in this table, 1 = most loans.
originating_lendertext14,688The lender that made the loans, as SBA records it in the OriginatingLender field. Spelling variants of one name are not merged.
loansinteger01,8421 – 491K · median 400PPP loans the lender made, in the universe (every loan in the release except the four whose undisbursed amount is at or above the approved amount).
charged_off_loansinteger01990 – 99K · median 0Of those loans, how many SBA lists with LoanStatus "Charged Off" in the September 30, 2024 release.
charge_off_ratenumber01,5560 – 0.40 · median 0charged_off_loans divided by loans, to six decimals.
approved_usdnumber04,6892K – 44.1B · sum $792.6B · median $18.7MSum of CurrentApprovalAmount over the lender's loans, in dollars.
charged_off_usdnumber01,7690 – 1.9B · sum $18.2B · median $0Sum of CurrentApprovalAmount over the lender's charged-off loans, in dollars. This is the approved amount of those loans, not a loss figure.
charged_off_usd_sharenumber01,6280 – 0.29 · median 0charged_off_usd divided by approved_usd.
paid_in_full_loansinteger01,8461 – 473K · median 398Loans with LoanStatus "Paid in Full" (repaid or forgiven).
exemption4_loansinteger01270 – 39K · median 0Loans whose LoanStatus is "Exemption 4", a Freedom of Information Act exemption named in place of an outcome.
first_draw_loansinteger01,5920 – 427K · median 305Loans with ProcessingMethod PPP (first-draw loans).
first_draw_charged_offinteger01700 – 75K · median 0First-draw loans charged off.
second_draw_loansinteger09360 – 134K · median 90Loans with ProcessingMethod PPS (second-draw loans).
second_draw_charged_offinteger01210 – 24K · median 0Second-draw loans charged off.
small_loans_to_20833integer01,3900 – 443K · median 232Loans of $20,833.33 or less (CurrentApprovalAmount).
small_loans_charged_offinteger01640 – 98K · median 0Of those small loans, how many were charged off.
sole_prop_ic_loansinteger01,1020 – 406K · median 140Loans whose BusinessType is Sole Proprietorship, Self-Employed Individuals or Independent Contractors.
sole_prop_ic_charged_offinteger01360 – 98K · median 0Of those loans, how many were charged off.
other_borrower_loansinteger01,4670 – 430K · median 216Loans with any other non-blank BusinessType.
other_borrower_charged_offinteger01600 – 12K · median 0Of those loans, how many were charged off.
expected_charged_off_other_lendersnumber03,0050 – 79K · median 13.13Expected charge-offs if each of the lender's loans had the charge-off rate of all other lenders' loans in the same draw, size band, borrower group and approval month.
actual_to_expected_other_lendersnumber01,5220 – 15.65 · median 0charged_off_loans divided by expected_charged_off_other_lenders. 1 means the lender's loans did as other lenders' comparable loans did; 2 means twice as many were charged off.
expected_charged_off_other_lenders_same_statenumber4,46922032.89 – 81K · median 259.39As expected_charged_off_other_lenders, with the borrower's state (BorrowerState) added to the comparison. Computed for the 220 lenders with 5,000 or more loans; blank for the rest.
actual_to_expected_other_lenders_same_statenumber4,4692160 – 3.08 · median 0.39charged_off_loans divided by expected_charged_off_other_lenders_same_state. Blank below 5,000 loans.
loans_serviced_by_other_named_lenderinteger02240 – 207K · median 0Loans whose ServicingLenderName differs from the originating lender's name as written. Includes the same bank under a different spelling.
ge_20000_loansinteger020 – 1 · median 01 if the lender made 20,000 or more loans (the 67 lenders compared on the Key Findings page).
ge_5000_loansinteger020 – 1 · median 01 if the lender made 5,000 or more loans (220 lenders).

Type, blanks, distinct count, and range are measured on the file. The same table as CSV: dictionary.csv.

How to use it

Specific to this file, measured on it: keys, joins, encodings, units, and the values that will trip a naive count.

  • Charged off is not fraud. The status covers loans that defaulted and loans that were never forgiven, for whatever reason. No row here says a loan was fraudulent.
  • Small lenders give noisy rates. A lender with 40 loans and one charge-off shows 2.5%. Compare lenders with a few thousand loans or more; the ge_20000_loans and ge_5000_loans flags mark the two groups used on the Key Findings page.
  • Names are SBA's and are not merged. One bank can appear under two spellings: Fulton Bank, National Association appears with and without the comma. Merging names that differ only in case, punctuation or "&" against "and" adds one lender to the 20,000-loan group and moves neither end of the range.
  • Originating is not servicing. 914,887 loans (8.0%) list a servicing lender under a different name. Some are the same bank spelled differently; some moved: all but 207 of First Source Federal Credit Union's 30,864 loans list PNC Bank as the servicer. Counted by servicing lender instead, the 62 servicers with 20,000 or more loans run from 0.14% to 23.8%.
  • "Exemption 4" is not an outcome. 169,086 loans carry a status that names a Freedom of Information Act exemption instead of Paid in Full or Charged Off. They are counted in exemption4_loans and in loans, not in charged_off_loans.
  • CRLF line endings, UTF-8, 562,527 bytes.

Before you quote a row

  • It does not measure losses. charged_off_usd is the approved amount of the charged-off loans, not what SBA paid lenders or recovered.
  • It does not say why. Whether a loan is charged off depends on the borrower, the lender, the servicer's handling of forgiveness and SBA's own review. The release records the outcome, not the cause.
  • The as-of date is SBA's. Statuses are those in the release dated September 30, 2024. A loan's status can change after that date.
Cite this table. Name the source vintage; the numbers depend on it.PPP charge-offs by originating lender, compiled from the SBA PPP loan-level release dated September 30, 2024. Pandemic Darlings, https://pandemicdarlings.com/data/ppp-charge-offs-by-lender/, SHA-256 02e30555e754376c663106c0de9dfdd485e693fc30130f9b8d83401d9319a1a7

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