Paycheck Protection Program (PPP) Report (Approvals through 06/06/2020)
Summary
The Small Business Administration's Paycheck Protection Program report of approvals through 06/06/2020 counts 4,531,883 loans with net dollars of $511,382,171,979 from 5,458 lenders. Lenders with more than $50 billion in assets made 1,564,461 loans worth $187,487,313,038, or 37% of the amount. Loans of $50K and under were 64.9% of the count, and the report gives an overall average loan size of $113K. JPMorgan Chase Bank led lenders with 256,978 loans worth $28,645,147,093, CA led states with 530,695 loans worth $66,615,126,522, and Health Care and Social Assistance led sectors at $66,116,892,187. The report lists $130,681,819,671 in funding remaining.
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Paycheck Protection Program
(PPP) Report
Approvals through 06/06/2020
Summary of PPP Approved Lending
Loan Count Net Dollars Lender Count
4,531,883 $511,382,171,979 5,458
Lender Loan % of
Lender Size Net Dollars
Count Count Amount
>$50 B in Assets 34 1,564,461 $187,487,313,038 37%
$10 B to $50 B in Assets 90 704,408 $99,839,980,206 20%
<$10 B in Assets 5,334 2,263,014 $224,054,878,735 44%
Totals reflect both rounds of PPP funding and cancellations through the report date.
Cancellations do include duplicative loans, loans not closed for any reason, and loans that have
been paid off.
Approvals through 06/06/2020 2
PPP Round 2 Lender Segments
Lender Loan
Net Dollars Round
Lender Size Count Count
2
Round 2 Round 2
>$50 B in Assets 34 1,229,040 $91,105,733,427
$10 B to $50 B in Assets 90 405,184 $29,341,896,306
<$10 B in Assets 5,324 1,271,181 $67,517,156,421
Lender Loan
Net Dollars Round
Lender Group Count Count
2
Round 2 Round 2
CDFIs 302 60,136 $2,925,826,390
CDFI lenders and associated loans are also captured in the <$10 billion or less lender asset size.
Approvals through 06/06/2020 3
Lender Segments
CDFI’s and MDI’s
Lender Type Lender Count Loan Count Net Dollars
CDFIs 303 95,151 $7,145,415,850
MDIs 171 109,449 $10,213,940,103
- minus CDFI/MDIs identified in
both groups 50 14,422 $1,472,692,457
Total 424 190,178 $15,886,663,496
Lenders with <$1b Assets and Non-Banks
Lender Type Lender Count Loan Count Net Dollars
Banks (less than $1b) 3,570 982,363 $82,959,927,625
Small Business Lending Companies 14 58,885 $6,328,867,931
Credit Unions (less than $1b) 721 57,177 $2,898,678,687
Fintechs (and other State Regulated) 19 82,482 $2,394,189,436
Farm Credit Lenders 54 14,115 $1,270,960,861
Savings & Loans (less than $1b) 78 11,080 $1,049,702,364
Certified Development Companies 19 5,970 $338,614,624
Non Bank CDFI Funds 8 5,367 $271,586,671
Microlenders 32 5,355 $165,426,355
BIDCOs 1 23 $787,713
Total 4,516 1,222,817 $97,678,742,267
* Loans from CDFI/MDI banks with <$1b Assets and non-bank CDFIs are captured in both tables.
Approvals through 06/06/2020 4
States and Territories
Loan Loan
State Loan Count Net Dollars State Count Net Dollars State Count Net Dollars
AK 10,265 $1,213,169,665 LA 68,533 $7,233,685,896 OR 58,209 $6,801,406,424
AL 61,576 $6,122,930,463 MA 106,575 $14,133,149,541 PA 157,491 $20,478,156,228
AR 40,920 $3,284,322,657 MD 74,612 $9,840,088,049 PR 32,603 $1,731,820,601
RI 16,236 $1,855,216,024
AS 137 $6,844,280 ME 25,888 $2,208,131,303
SC 59,492 $5,638,849,569
AZ 75,347 $8,467,160,762 MI 114,361 $15,703,755,609
SD 21,363 $1,644,273,024
CA 530,695 $66,615,126,522 MN 92,906 $11,049,841,947
TN 86,647 $8,771,375,365
CO 99,155 $10,232,212,836 MO 87,212 $9,035,766,437
TX 361,765 $40,295,186,026
CT 56,704 $6,589,734,939 MP 392 $36,489,968
UT 48,572 $5,204,939,285
DC 11,421 $2,105,618,797 MS 42,965 $3,135,993,655 VA 101,980 $12,396,319,330
DE 11,710 $1,458,546,863 MT 22,282 $1,745,215,743 VI 1,469 $116,705,288
FL 350,734 $30,667,101,542 NC 113,745 $12,216,598,376 VT 11,287 $1,170,593,707
GA 139,215 $14,008,161,761 ND 19,058 $1,750,984,732 WA 93,880 $12,058,958,915
GU 1,999 $193,937,236 NE 40,711 $3,395,896,779 WI 81,232 $9,765,105,528
HI 23,651 $2,468,570,791 NH 22,600 $2,518,079,300 WV 16,529 $1,775,137,873
IA 55,461 $5,015,642,315 NJ 135,203 $16,864,786,923 WY 12,830 $1,016,538,929
ID 28,879 $2,546,411,161 NM 20,830 $2,204,842,129 To be confirmed 173 $6,409,358
IL 186,337 $22,040,194,873 NV 38,723 $4,047,046,515
IN 74,758 $9,368,437,645 NY 294,689 $37,454,686,860
KS 49,784 $4,938,120,040 OH 131,887 $18,117,969,886
KY 46,230 $5,200,639,495 OK 61,975 $5,419,286,214
Approvals through 06/06/2020 5
Loan Size
Loan % of % of
Loan Size Net Dollars
Count Count Amount
$50K and Under 2,943,201 $54,321,982,874 64.9% 10.6%
>$50K - $100K 655,007 $46,652,835,938 14.5% 9.1%
>$100K - $150K 284,657 $34,851,771,625 6.3% 6.8%
>$150K - $350K 369,737 $83,081,546,207 8.2% 16.2%
>$350K - $1M 197,098 $112,146,690,696 4.3% 21.9%
>$1M - $2M 52,578 $72,838,506,833 1.2% 14.2%
>$2M - $5M 24,788 $73,686,354,483 0.5% 14.4%
>$5M 4,817 $33,802,483,324 0.1% 6.6%
* Overall average loan size is: $113K.
Approvals through 06/06/2020 6
Top PPP Lenders
% of Total
Rank Lender Name Loan Count Net Dollars Average Loan Size
Authority
1 JPMorgan Chase Bank 256,978 $28,645,147,093 $111,469 4.3%
2 Bank of America 325,853 $24,933,216,170 $76,517 3.8%
3 PNC Bank 72,547 $13,047,436,499 $179,848 2.0%
4 Truist Bank 73,012 $12,870,556,712 $176,280 2.0%
5 Wells Fargo Bank 171,448 $10,185,425,001 $59,408 1.5%
6 TD Bank 79,089 $8,364,427,185 $105,760 1.3%
7 KeyBank 39,444 $8,041,835,331 $203,880 1.2%
8 U.S. Bank 91,496 $7,075,958,354 $77,336 1.1%
9 Zions Bank 43,840 $6,920,137,754 $157,850 1.0%
10 M&T Bank 34,740 $6,790,832,340 $195,476 1.0%
11 Huntington Bank 35,283 $6,459,144,890 $183,067 1.0%
12 Fifth Third Bank 36,135 $5,373,465,045 $148,705 0.8%
13 Citizens Bank 48,065 $4,948,009,994 $102,944 0.7%
14 BMO Harris Bank 20,650 $4,768,458,895 $230,918 0.7%
15 Cross River Bank 105,060 $4,688,272,825 $44,625 0.7%
Approvals through 06/06/2020 7
Industry by NAICS Sector
Loan % of
NAICS Sector Description Net Dollars Amount
Count
Health Care and Social Assistance 475,706 $66,116,892,187 12.93%
Professional, Scientific, and Technical Services 589,542 $65,242,167,416 12.76%
Construction 434,720 $63,578,254,948 12.43%
Manufacturing 219,814 $53,505,238,934 10.46%
Accommodation and Food Services 344,104 $41,066,112,230 8.03%
Retail Trade 421,687 $39,658,145,446 7.76%
Other Services (except Public Administration) 477,316 $30,059,675,387 5.88%
Wholesale Trade 158,519 $27,415,340,831 5.36%
Administrative and Support and Waste Management and Remediation Services 224,768 $25,974,183,957 5.08%
Transportation and Warehousing 157,820 $16,293,334,981 3.19%
Real Estate and Rental and Leasing 225,139 $15,202,496,179 2.97%
Finance and Insurance 156,429 $11,967,840,821 2.34%
Educational Services 74,230 $11,758,914,754 2.30%
Unclassified Establishments 223,648 $9,961,029,864 1.95%
Information 63,984 $9,092,167,092 1.78%
Arts, Entertainment, and Recreation 106,352 $7,677,909,825 1.50%
Agriculture, Forestry, Fishing and Hunting 129,258 $7,635,183,929 1.49%
Mining 20,610 $4,477,493,683 0.88%
Public Administration 12,473 $1,697,067,492 0.33%
Management of Companies and Enterprises 8,327 $1,557,291,638 0.30%
Utilities 7,437 $1,445,430,383 0.28%
Approvals through 06/06/2020 8
Amount of Funding Remaining
$130,681,819,671
Available funds captures approvals net of cancellations as well as loan
increases, decreases, and reinstatements. This amount accounts for statutory
program costs.
Approvals through 06/06/2020 9
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