Paycheck Protection Program (PPP) Report: Approvals through 05/31/2021

Summary

The Paycheck Protection Program (PPP) Report, Approvals through 05/31/2021. The Summary of All PPP Approved Lending lists 11,823,594 loans approved for total net dollars of $799,832,866,520 with a lender count of 5,467. The Summary of 2021 PPP Approved Lending lists 6,681,929 loans for $277,700,108,079, with first draw loans of 3,768,309 for $68,915,276,574 and second draw loans of 2,913,620 for $208,784,831,505. The report breaks 2021 lending down by lender type, state and territory, loan size, top lenders, industry and demographics, with Gender, Race, Veteran and Ethnicity tables.

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Paycheck Protection
Program (PPP) Report
Approvals through 05/31/2021

Summary of All PPP Approved Lending
2
Loans Approved
Total Net Dollars
Total Lender Count
11,823,594
$799,832,866,520
5,467
Summary of 2021 PPP Approved Lending
Loans Approved
Net Dollars
Lender Count
6,681,929
$277,700,108,079
5,242
Approvals through 05/31/2021

Loan Breakdown for 2021 PPP
3
First Draw Loans
Loans Approved
Net Dollars
Average Loan Size
Lender Count
Total First Draw Loans
3,768,309
$68,915,276,574
$18,288
5,168
First Draw Loans with 10 or fewer employees
3,724,470
$56,216,754,824
$15,094
5,156
First Draw Loans LMI & Less than $250k
1,343,538
$21,951,817,118
$16,339
4,640
Second Draw Loans
Loans Approved
Net Dollars
Average Loan Size
Lender Count
Total Second Draw Loans
2,913,620
$208,784,831,505
$71,658
5,216
Second Draw Loans with 10 or fewer employees
2,395,644
$63,660,158,141
$26,573
5,199
Second Draw Loans LMI & Less than $250k
733,471
$26,754,426,803
$36,476
4,731
First & Second Draw Loans
Loans Approved
Net Dollars
Average Loan Size
Lender Count
Total First & Second Draw Loans
6,681,929
$277,700,108,079
$41,560
5,242
PPP Loans by Community Financial Institutions
1,604,140
$34,095,035,498
$21,254
501
PPP Loans by Insured Depository Institutions
<$10B in Assets
1,812,102
$101,504,685,266
$56,015
4,105
PPP Loans by Credit Unions <$10B in Assets
152,366
$5,160,428,953
$33,869
851
PPP Loans by Farm Credit System Institutions
<$10B in Assets
19,581
$406,682,354
$20,769
41
Approvals through 05/31/2021

Lender Types for 2021 PPP
4
Lender Type
Lender Count
Loans Approved
Net Dollars
Banks and S&Ls($10B or more)
112
1,807,532
$118,331,350,203
Banks and S&Ls(less than $10B)
4,105
1,812,102
$101,504,685,266
Fintechs (and other State Regulated)
41
1,210,098
$21,918,632,833
Small Business Lending Companies
13
823,576
$15,463,750,507
Microlenders
34
532,480
$8,540,740,467
Credit Unions (less than $10B)
851
152,366
$5,160,428,953
Non Bank CDFI Funds
9
276,271
$5,047,040,642
Farm Credit Lenders
47
35,923
$870,150,045
Credit Unions ($10B or more)
8
14,903
$438,573,935
Certified Development Companies
19
16,409
$419,677,207
To Be Confirmed
2
250
$4,779,785
BIDCOs
1
19
$298,236
Total
5,242
6,681,929
$277,700,108,079
Approvals through 05/31/2021

States and Territories
5
State
Loan Count
Net Dollars
AK
11,911
$746,342,883
AL
107,193
$3,337,720,387
AR
61,701
$1,745,660,603
AS
37
$1,187,913
AZ
89,715
$3,871,793,005
CA
692,692
$35,907,059,637
CO
87,088
$4,737,513,800
CT
55,612
$3,240,741,724
DC
17,351
$1,185,815,859
DE
15,742
$756,466,258
FL
598,506
$19,036,179,898
GA
416,058
$11,056,741,932
GU
1,445
$106,584,393
HI
20,002
$1,362,722,476
IA
111,964
$2,973,773,610
ID
21,961
$923,819,720
IL
435,736
$15,328,824,895
IN
110,397
$4,440,953,031
KS
74,634
$2,384,522,529
KY
80,225
$2,563,145,675
State
Loan Count
Net Dollars
LA
150,147
$4,954,034,653
MA
103,507
$6,896,694,622
MD
111,317
$5,105,480,074
ME
19,471
$994,866,271
MI
176,993
$8,418,112,644
MN
126,388
$5,371,253,729
MO
142,243
$4,606,412,713
MP
452
$25,757,685
MS
96,324
$2,340,660,847
MT
23,463
$823,366,188
NC
139,472
$5,613,843,059
ND
31,291
$1,113,121,201
NE
70,810
$1,937,788,407
NH
16,617
$1,156,553,713
NJ
153,261
$8,412,871,701
NM
19,027
$1,136,917,414
NV
79,176
$2,758,914,488
NY
415,741
$22,734,700,124
OH
218,210
$9,038,248,426
OK
90,821
$2,927,281,933
State
Loan Count
Net Dollars
OR
51,276
$3,050,876,119
PA
179,088
$9,958,345,781
PR
30,740
$949,028,507
RI
17,282
$1,000,161,994
SC
90,624
$3,058,629,335
SD
40,837
$1,047,427,807
TN
138,929
$4,552,364,106
TX
559,159
$22,263,165,930
UT
32,814
$1,840,771,407
VA
113,491
$5,571,715,395
VI
1,373
$76,067,379
VT
9,541
$564,206,007
WA
91,086
$5,887,464,009
WI
102,837
$4,391,796,235
WV
15,831
$810,639,493
WY
12,316
$602,941,034
To be confirmed
4
$57,419
Approvals through 05/31/2021

Loan Size for 2021 PPP
6
Loan Size
Loan Count
Net Dollars
% of Count
% of Amount
$50K and Under
5,822,120
$90,807,493,443
87.1%
32.7%
>$50K - $100K
371,459
$26,487,929,663
5.6%
9.5%
>$100K - $150K
181,705
$22,584,777,740
2.7%
8.1%
>$150K - $350K
186,798
$42,273,269,020
2.8%
15.2%
>$350K - $1M
93,092
$51,987,085,335
1.4%
18.7%
>$1M - $2M
26,004
$39,535,939,472
0.4%
14.2%
>$2M - $5M
422
$1,335,740,553
0.0%
0.5%
>$5M
329
$2,687,872,852
0.0%
1.0%
* Overall average loan size is: $42K.
Approvals through 05/31/2021

Top PPP Lenders for 2021 PPP
7
Rank
Lender Name
Loans Approved
Net Dollars
Average Loan Size
1
JPMorgan Chase Bank
158,345
$12,189,061,552
$76,978
2
Bank of America
147,548
$8,934,221,969
$60,551
3
Prestamos CDFI, LLC
494,415
$7,676,108,813
$15,526
4
Capital Plus Financial, LLC
472,036
$7,582,023,560
$16,062
5
Harvest Small Business Finance, LLC
429,098
$7,437,279,355
$17,332
6
Cross River Bank
288,932
$6,583,843,429
$22,787
7
Itria Ventures LLC
178,807
$4,983,368,254
$27,870
8
BSD Capital, LLC dba Lendistry
245,894
$4,729,176,754
$19,233
9
Benworth Capital
334,434
$4,612,404,344
$13,792
10
Customers Bank
221,116
$4,541,659,856
$20,540
11
PNC Bank
45,454
$4,322,632,852
$95,099
12
Fountainhead SBF LLC
286,208
$4,050,986,737
$14,154
13
TD Bank
47,403
$3,709,558,661
$78,256
14
Truist Bank
37,843
$3,657,551,842
$96,651
15
Wells Fargo Bank
87,817
$3,496,896,632
$39,820
Approvals through 05/31/2021

Industry for 2021 PPP
8
NAICS Sector Description
Loan Count
Net Dollars
% of Amount
Accommodation and Food Services
462,478
$41,506,221,571
15%
Construction
558,180
$33,443,602,502
12%
Health Care and Social Assistance
485,698
$28,820,477,425
10%
Professional, Scientific, and Technical Services
657,326
$28,559,859,211
10%
Other Services (except Public Administration)
1,107,768
$27,345,366,128
10%
Manufacturing
221,216
$22,148,692,329
8%
Transportation and Warehousing
763,810
$15,772,271,550
6%
Retail Trade
468,043
$15,263,246,977
5%
Administrative and Support and Waste Management and Remediation Services
393,563
$12,955,372,474
5%
Wholesale Trade
187,490
$10,379,776,487
4%
Agriculture, Forestry, Fishing and Hunting
532,884
$10,022,835,191
4%
Arts, Entertainment, and Recreation
223,882
$7,452,355,755
3%
Real Estate and Rental and Leasing
262,928
$7,335,291,000
3%
Educational Services
101,773
$5,122,704,390
2%
Information
75,128
$4,123,673,365
1%
Finance and Insurance
127,088
$3,423,154,208
1%
Mining
21,676
$2,383,826,599
1%
Public Administration
18,359
$784,812,141
0%
Management of Companies and Enterprises
6,812
$464,310,239
0%
Utilities
5,827
$392,258,537
0%
Approvals through 05/31/2021

Demographics for 2021 PPP
9
Gender
Loans Approved
Net Dollars
Female
1,158,031
$33,351,949,494
Male
1,781,672
$90,700,213,878
Unknown/NotStated
3,742,226
$153,647,944,708
Race
Loans Approved
Net Dollars
American Indian or Alaska Native
55,378
$2,473,827,119
Asian
162,151
$7,774,961,578
Black or African American
825,959
$16,115,604,264
Eskimo & Aleut
14
$375,666
Multi Group
22
$571,645
Native Hawaiian or Other Pacific
Islander
7,886
$253,155,627
Puerto Rican
320
$11,331,553
Unanswered
4,712,859
$207,532,206,289
White
917,340
$43,538,074,339
Veteran
Loans Approved
Net Dollars
Non-Veteran
2,488,683
$99,267,441,277
Unknown/NotStated
4,057,994
$172,058,427,883
Veteran
135,252
$6,374,238,919
Approvals through 05/31/2021
Ethnicity
Loans Approved
Net Dollars
Hispanic or Latino
252,517
$9,013,651,378
Not Hispanic or Latino
1,955,130
$83,675,290,951
Unknown/NotStated
4,474,282
$185,011,165,750

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