Paycheck Protection Program Data as of 04/01/21
Summary
SBA's Paycheck Protection Program report as of 04/01/21 shows the current round at 3,819,618 loans approved for $219.2B, an average loan of $57,384, with loan intake of 3,982,737 applications for $227.7B. 96% of loans are under $250k and make up 53% of the volume, and 94% went to businesses with 20 employees or fewer. Within the Community Financial Institution set-aside, Fintechs (and other State Regulated) lenders made 150,503 loans for $2,754,145,250, 23.7% of the CFI total, with 92.2% of them under $150k; 71.7% of approved loans overall report no race. On the 2020 loans, ~46% have completed forgiveness: $209.1B of the $521.2B total forgiven, 99.7% of the value processed, with applications for $227.8B not yet received. EIDL stands at 3.77M loans approved for $201.7B with $194.2B (96%) disbursed.
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Paycheck Protection
Program
Data as of 04/01/21
PPP | The current round of PPP has approved 3.8M loans for $219.2B volume
Loan Intake* Loan Intake* ($) Loans Approved Approved ($) Avg Loan Size
3,982,737 $227.7B 3,819,618 $219.2B $57,384
$12 $250
Billions $10 Billions
$200
$8
$150
$6
$100
$4
$50
$2
$0 $0
1/11 1/13 1/15 1/17 1/19 1/21 1/23 1/25 1/27 1/29 1/31 2/2 2/4 2/6 2/8 2/10 2/12 2/14 2/16 2/18 2/20 2/22 2/24 2/26 2/28 3/2 3/4 3/6 3/8 3/10 3/12 3/14 3/16 3/18 3/20 3/22 3/24 3/26 3/28 3/30 4/1
Loan Intake Dollars Approved Dollars Cumulative
*Loan Intake defined as PPP loan guarantee applications submitted to SBA for processing
3
PPP | The Administration is focused on ensuring equitable access of PPP
funds. The current round is on pace to pass some of the defined set-asides in
the statute
PPP lending over time Set Aside Breakdown by Approved $
$250 100.0%
Total Volume** ($) Total Set Aside
Billions
90.0%
First Draw Loans <=10 employees $25.4B
$200 80.0% $15B
70.0% First Draw Loans LMI & < $250k $8.6B
$150 60.0% Second Draw Loans <=10 employees $49.9B
50.0%
$25B
Second Draw Loans LMI & <$250k $21.3B
$100 40.0%
30.0%
Community Financial Institutions $11.6B $15B
$50 20.0% First & Second Draw from IDIs, CUs,
FCSIs < $10B * $95.2B $15B
10.0%
$0 0.0% New First Draw Borrowers $34.2B $35B
1/11 1/18 1/25 2/1 2/8 2/15 2/22 3/1 3/8 3/15 3/22 3/29
Cumulative Approved ($) % LMI % Rural % <$150k *Insured Depository Institutions, Credit Unions, and Farm Credit System Institutions
**Set asides are being treated as mutually exclusive, thus total assigned amount from an
accounting standpoint is lower than the total volume above
LMI* Rural* <$150k
Program Averages (by approved $) 25.7% 17.0% 42.6%
4
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
PPP | The current round of PPP is successfully reaching smaller borrowers
with 96% of all loans less than $250k, totaling 53% of loan volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved ($)
$250K - $1M, 4% >$1M, 1%
$100K -
$250K, 7% >$1M, 17%
<$100K <$100K
$100K - $250K <$100K, 33% $100K - $250K
$250K - $1M $250K - $1M, 30% $250K - $1M
>$1M >$1M
$100K - $250K,
<$100K, 88% 20%
5
PPP | The current round of PPP is successfully reaching smaller borrowers
with 94% of all loans to businesses with 20 employees or fewer, totaling 50%
of loan volume
Number of Employees Breakdown by Approved Count Number of Employees Breakdown by Approved ($)
21 - 50, 4% > 50, 2% 1, 12%
11 - 20, 7%
> 50, 27%
1 1
2 - 10, 31% 2 - 10 2 - 10
11 - 20 11 - 20
1, 56% 21 - 50 2 - 10, 22% 21 - 50
> 50 > 50
21 - 50, 23% 11 - 20, 16%
6
PPP | There is still limited demographic data on PPP borrowers. The SBA is working to
improve optional response rate and reaching underserved small businesses
Loans Approved Approved ($) Avg Loan Size % of Approved Dollars
LMI* Neighborhoods 994,446 $56,469,072,032 $56,784 25.8%
Rural* 986,458 $37,174,658,916 $37,685 17.0%
% Approved Count % Approved Dollars
American Indian or Alaska Native 1.1% 1.0%
Asian 2.9% 2.7%
Black or African American 7.7% 3.1%
Eskimo & Aleut 0.0% 0.0%
Multi Group 0.0% 0.0%
Native Hawaiian or Other Pacific Islander 0.1% 0.1%
Puerto Rican 0.0% 0.0%
Unanswered 71.7% 76.8%
White 16.5% 16.4%
Ethnicity % Approved Count % Approved Dollars
Hispanic or Latino 3.8% 3.0%
Not Hispanic or Latino 29.8% 29.9%
Unknown/NotStated 66.5% 67.1%
Gender % Approved Count % Approved Dollars Veteran % Approved Count % Approved Dollars
Female 14.6% 10.2% Non-Veteran 34.5% 34.3%
Male 28.2% 33.8% Unknown/NotStated 63.4% 63.3%
Unknown/NotStated 57.3% 56.0% Veteran 2.1% 2.3%
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
7
PPP | Large institutions are driving the majority of PPP lending. Non-bank
lenders are reaching underserved businesses with a larger proportion of their
loans Lender Type Loans Approved Approved ($) % Total % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 803,515 $64,327,151,419 29.3% 38.8% 24.5% 7.4%
Banks and S&Ls $10B
- $50B 630,772 $38,297,745,721 17.5% 40.1% 27.6% 13.4%
Banks and S&Ls $1B -
$10B 621,290 $52,298,916,303 23.9% 33.4% 24.2% 19.0%
Banks and S&Ls < $1B 703,037 $33,252,820,899 15.2% 46.5% 22.1% 37.8%
Green – Above
BIDCOs 13 $256,833 0.0% 100.0% 23.9% 2.9% program average
No color –
Credit Unions 103,650 $3,813,844,153 1.7% 60.0% 25.0% 19.2% Approximately
program average
Farm Credit Lenders 30,749 $754,468,388 0.3% 78.1% 11.5% 71.4%
Yellow checkerboard
Fintechs (and other
State Regulated) 376,129 $9,284,084,551 4.2% 74.5% 35.5% 9.7% – Below program
Small Business average
Lending Companies 234,030 $5,497,409,962 2.5% 67.1% 32.7% 7.5%
CFI 315,537 $11,628,035,782 5.3% 56.1% 33.9% 19.0%
To Be Confirmed 896 $29,802,782 0.0% 51.9% 14.9% 62.2%
Program Averages (by approved $) 42.6% 25.7% 17.0%
*CDFI defined as Community Development Financial Institutions, BIDCOs defined as Business and Industrial Development Corporations 8
**Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
PPP | CFI lender type breakdown
Lender Type Loans Approved Approved ($) % of CFI Total % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 18,840 $1,316,998,687 11.3% 33.3% 27.1% 36.3%
Banks and S&Ls $10B
- $50B 10,457 $743,283,697 6.4% 39.3% 35.9% 20.8%
Banks and S&Ls $1B -
$10B 36,176 $2,669,231,597 23.0% 40.2% 29.8% 15.3%
Banks and S&Ls < $1B 44,992 $2,320,006,272 20.0% 45.6% 29.6% 27.8%
Certified Green – Above
Development program average
Companies 4,966 $229,738,427 2.0% 63.5% 30.3% 6.9% No color –
Approximately
Credit Unions 23,769 $886,263,774 7.6% 58.1% 29.2% 17.9% program average
Fintechs (and other Yellow checkerboard
State Regulated) 150,503 $2,754,145,250 23.7% 92.2% 45.6% 10.3% – Below program
average
Microlenders 9,713 $229,805,351 2.0% 76.8% 35.7% 12.9%
Non Bank CDFI Funds 13,467 $265,892,293 2.3% 80.4% 33.4% 9.3%
Small Business
Lending Companies 2,654 $212,670,434 1.8% 31.5% 37.1% 3.1%
Program Averages (by approved $) 42.6% 25.7% 17.0%
*CDFI defined as Community Development Financial Institutions, BIDCOs defined as Business and Industrial Development Corporations 9
**Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
PPP | The current round has reached all 50 states
% of total lending against proportion of total US businesses with <500 employees
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0% AK
AL
AR
AS
AZ
CA
CO
CT
DC
DE
FL
GA
GU
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MP
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WA
WI
WV
WYVI
*Red markers detail the proportion of US Businesses with < 500 employees by state (Source: US Census, SUSB); this is data for employer businesses and doesn’t include
10
independent contractors
PPP | Accommodation and Food Services account for 17% of all lending,
driven primarily by restaurants
% of total lending against proportion of total US businesses with <500 employees
18.0%
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
*Other includes Information, Mining, Finance & Insurance, Public Admin., Management of Companies & Enterprises, Utilities, and Unclassified Establishments Industries 11
**Red markers detail the proportion of US Businesses with < 500 employees by industry (Source: US Census, SUSB), this is data for employer businesses and doesn’t include independent contractors or farms
Paycheck Protection
Program Forgiveness
Data as of 04/01/21
Forgiveness | ~46% of loans have completed the forgiveness process,
totaling ~40% of total 2020 PPP volume
Total 2020 PPP Amount Not Applications not yet
Volume Forgiven Forgiven In Process received
Count 5.2M 2.4M - 290k 2.5M
Volume $521.2B $209.1B $0.7B $83.8B $227.8B
$20 $250
Billions Billions
$18
$16 $200
$14
$12 $150
$10
$8 $100
$6
$4 $50
$2
$0 August $0
8/30
9/6
9/13
9/20
9/27
10/4
10/11
10/18
10/25
11/1
11/8
11/15
11/22
11/29
12/6
12/13
12/20
12/27
1/3
1/10
1/17
1/24
1/31
2/7
2/14
2/21
2/28
3/7
3/14
3/21
3/28
Submitted (Loan Value) Forgiven Cumulative Forgiven
13
Forgiveness | Across all loan sizes, over 99% of loan value has been
forgiven on loans that have completed the forgiveness process
Forgiven Not Forgiven % Forgiven of In Process Apps Not Yet Total PPP % Sub. for
(Amt) (Amt) Processed (Amt) Received (Amt) Volume Forgiveness (Amt)
<$100K $52.5 B $0.2 B 99.6% $6.2 B $51.3 B $110.2 B 53.4%
$100K - $250K $43.1 B $0.1 B 99.7% $5.0 B $37.7 B $85.9 B 56.1%
$250 - $1M $76.3 B $0.2 B 99.7% $11.4 B $59.3 B $147.3 B 59.7%
>$1M $37.2 B $0.1 B 99.6% $61.1 B $79.4 B $177.9 B 55.3%
Total $209.1 B $0.7 B 99.7% $83.8 B $227.8 B $521.2 B 56.3%
Forgiven count by loan size Forgiven value by loan size
$250 - $1M, 7%
$100K - >$1M, 1% >$1M <$100K
$250K, 12% 18% $100K - $250K
<$100K
$250 - $1M
36%
<$100K $250 - $1M >$1M
<$100K, $100K - $250K 21%
80%
$250 - $1M $100K -
>$1M $250K
25%
14
Forgiveness | Most types of lenders have submitted nearly ½ of their
applications for forgiveness
Not % Sub. for
Forgiven % Forgiven of In Process Apps not yet Total PPP Forgiveness
Lender Type Forgiven (Amt) (Amt) Processed (Amt) received (Amt) Volume (Amt)
Banks and S&Ls($10B or
more) $98,258 M $360 M 99.6% $49,425 M $154,820 M $302,863 M 48.9%
Banks and S&Ls(less than
$10B) $102,787 M $281 M 99.7% $31,521 M $59,240 M $193,829 M 69.4%
BIDCOs $1 M $0 M 100.0% $0 M $0 M $1 M 100.0%
Certified Development
Companies $186 M $0 M 99.8% $35 M $181 M $402 M 55.0%
Credit Unions ($10B or
more) $388 M $2 M 99.5% $90 M $415 M $895 M 53.6%
Credit Unions (less than
$10B) $4,393 M $17 M 99.6% $1,073 M $2,976 M $8,458 M 64.8%
Farm Credit Lenders $478 M $0 M 99.9% $345 M $595 M $1,418 M 58.1%
Fintechs (and other State
Regulated) $693 M $2 M 99.8% $175 M $2,966 M $3,836 M 22.7%
Microlenders $105 M $0 M 99.7% $26 M $103 M $234 M 56.0%
Non Bank CDFI Funds $117 M $0 M 99.9% $44 M $187 M $349 M 46.4%
Small Business Lending
Companies $1,630 M $2 M 99.9% $1,022 M $6,266 M $8,920 M 29.8%
To Be Confirmed $28 M $0 M 99.9% $1 M $16 M $44 M 64.7%
15
Economic Injury
Disaster Loans (EIDL)
Data as of 04/01/21
EIDL | Since April, EIDL has approved $201B in loans
Loans Approved Approved ($) Disbursements Disbursed $
3.77M $201.7B 3.6M $194.2B (96%)
17
EIDL | 78% of all loans are less than $100k, totaling 39% of loan
volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved $
>$150K, 1% >$150K, 4%
$100K - $150K, 21% <$50K
<$50K
$50K - $100K
$50K - $100K
$100K - $150K <$50K, 21% $100K - $150K
>$150K
>$150K
$50K - $50K -
$100K, 13% <$50K, 65% $100K, 18%
$100K - $150K,
57%
18
EIDL | EIDL has reached all 50 states
% of total against proportion of total US businesses with <500 employees
20.0%
18.0%
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0% AK
AL
AR
AS
AZ
CA
CO
CT
DC
DE
FL
GA
GU
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MP
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WA
WI
WV
WYVI
*Red markers detail the proportion of US Businesses with < 500 employees by state (Source: US Census, SUSB), this is data for employer businesses and doesn’t include 19
independent contractors
EIDL | Retail Trade accounts for ~15% of all lending
% of total lending
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
*Other includes Information, Mining, Finance & Insurance, Public Admin., Management of Companies & Enterprises, Utilities, and Unclassified Establishments Industries 20
Economic Injury Disaster
Loan (EIDL) Advance
COMPLETED ROUND 1 DATA
EIDL Advance | $20B in EIDL Advance has been fully exhausted and
disbursed
Applications Application ($) Approved Approved ($) Disbursements Disbursed $
8,195,968 $28B 5,781,390 $20B 5,781,390 $20B
22
EIDL Advance | 51% of Advances are $1k, totaling 15% of volume
Advance Size Breakdown by Approved Count Advance Size Breakdown by Approved $
$1-2k
$2-4k $1-2k
$4-6k $2-4k
$8-10k, 17% $4-6k
$6-8k $1-2k, 21%
$6-8k, 4% $6-8k
$8-10k
$8-10k
$4-6k, 6%
$8-10k, 50% $2-4k, 11%
$1-2k, 62%
$2-4k, 11%
$4-6k,
10%
$6-8k,
8%
23
EIDL Advance | EIDL Advance has reached all 50 states and nearly all US
territories
% of total against proportion of total US businesses with <500 employees
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00% AK
AL
AR
AS
AZ
CA
CO
CT
DC
DE
FL
GA
GU
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MP
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WA
WI
WV
WYVI
*Red markers detail the proportion of US Businesses with < 500 employees by state (Source: US Census, SUSB), this is data for employer businesses and doesn’t include 24
independent contractors
EIDL Advance | Retail Trade accounts for 13% of all advances
% of total lending
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
*Other includes Educ. Services, Mining, Finance & Insurance, Public Admin., Management of Companies & Enterprises, Utilities, and Unclassified Establishments Industries 25
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