Paycheck Protection Program (PPP) Report (Approvals through 06/20/2020)
Summary
The Small Business Administration's Paycheck Protection Program report of approvals through 06/20/2020 counts 4,666,560 loans with net dollars of $514,939,789,916 from 5,456 lenders. Lenders with more than $50 billion in assets made 1,601,262 loans worth $188,455,623,221, or 37% of the amount. JPMorgan Chase Bank led lenders with 262,799 loans worth $28,798,003,966, and Bank of America made the most loans among the 15 top lenders listed, 333,020. California led states with 550,786 loans worth $67,151,771,059, and the overall average loan size was $110K. The report lists $128,355,981,685 in funding remaining, an approximation pending SBA's revision after the Paycheck Protection Program Flexibility Act of 2020.
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Paycheck Protection Program
(PPP) Report
Approvals through 06/20/2020
Summary of PPP Approved Lending
Loan Count Net Dollars Lender Count
4,666,560 $514,939,789,916 5,456
Lender Loan % of
Lender Size Net Dollars
Count Count Amount
>$50 B in Assets 34 1,601,262 $188,455,623,221 37%
$10 B to $50 B in Assets 89 720,109 $100,084,707,720 19%
<$10 B in Assets 5,333 2,345,189 $226,399,458,974 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 06/20/2020 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 1,266,190 $92,310,101,401
$10 B to $50 B in Assets 89 421,339 $29,717,657,270
<$10 B in Assets 5,323 1,356,231 $70,136,585,771
Lender Loan
Net Dollars Round
Lender Group Count Count
2
Round 2 Round 2
CDFIs 302 63,497 $3,037,513,424
CDFI lenders and associated loans are also captured in the <$10 billion or less lender asset size.
Approvals through 06/20/2020 3
Lender Segments
CDFI’s and MDI’s
Lender Type Lender Count Loan Count Net Dollars
CDFIs 303 98,486 $7,254,646,450
MDIs 171 112,847 $10,279,958,572
- minus CDFI/MDIs identified in
both groups 50 14,750 $1,481,889,113
Total 424 196,583 $16,052,715,909
Lenders with <$1b Assets and Non-Banks
Lender Type Lender Count Loan Count Net Dollars
Banks (less than $1b) 3,564 1,019,877 $83,987,031,580
Small Business Lending Companies 14 58,379 $6,420,289,938
Fintechs (and other State Regulated) 19 107,601 $3,069,790,537
Credit Unions (less than $1b) 722 59,090 $2,941,240,330
Farm Credit Lenders 54 14,454 $1,294,228,508
Savings & Loans (less than $1b) 77 11,071 $1,024,046,009
Certified Development Companies 19 6,464 $350,730,895
Non Bank CDFI Funds 8 6,223 $325,181,193
Microlenders 32 5,804 $181,983,952
BIDCOs 1 23 $787,713
Total 4,510 1,288,986 $99,595,310,655
* Loans from CDFI/MDI banks with <$1b Assets and non-bank CDFIs are captured in both tables.
Approvals through 06/20/2020 4
States and Territories
Loan Loan
State Loan Count Net Dollars State Count Net Dollars State Count Net Dollars
AK 10,523 $1,226,779,393 LA 70,573 $7,269,488,528 OR 60,060 $6,864,040,749
AL 63,121 $6,133,082,094 MA 108,925 $14,199,057,483 PA 160,452 $20,554,873,017
AR 41,449 $3,288,704,224 MD 77,288 $9,901,301,566 PR 34,538 $1,761,241,545
RI 16,620 $1,865,533,955
AS 156 $7,300,565 ME 26,400 $2,228,185,817
SC 60,871 $5,674,918,865
AZ 77,469 $8,520,213,630 MI 116,671 $15,812,206,905
SD 21,752 $1,651,402,470
CA 550,786 $67,151,771,059 MN 94,676 $11,109,492,485
TN 89,170 $8,817,129,390
CO 101,038 $10,270,215,384 MO 88,740 $9,075,510,168
TX 372,077 $40,535,431,650
CT 58,257 $6,628,795,320 MP 440 $38,159,067
UT 49,343 $5,210,457,754
DC 11,825 $2,119,014,772 MS 44,121 $3,142,240,687 VA 104,963 $12,480,799,669
DE 12,046 $1,472,184,589 MT 22,583 $1,753,302,235 VI 1,620 $120,386,515
FL 368,459 $31,243,298,708 NC 116,858 $12,293,397,048 VT 11,473 $1,176,053,186
GA 145,623 $14,163,368,242 ND 19,319 $1,757,412,007 WA 96,589 $12,151,909,685
GU 2,036 $194,161,761 NE 41,361 $3,406,735,275 WI 82,715 $9,811,664,163
HI 24,036 $2,474,132,157 NH 23,011 $2,523,897,886 WV 16,830 $1,783,456,999
IA 56,603 $5,048,619,299 NJ 139,919 $16,972,372,250 WY 12,985 $1,026,717,474
ID 29,336 $2,553,027,684 NM 21,201 $2,218,565,298 To be confirmed 169 $6,106,158
IL 192,727 $22,233,685,117 NV 40,060 $4,068,833,898
IN 76,056 $9,402,888,512 NY 305,774 $37,764,342,889
KS 50,522 $4,958,578,474 OH 134,574 $18,210,830,774
KY 46,966 $5,202,162,958 OK 62,805 $5,410,350,463
Approvals through 06/20/2020 5
Loan Size
Loan % of % of
Loan Size Net Dollars
Count Count Amount
$50K and Under 3,064,336 $55,987,179,541 65.7% 10.9%
>$50K - $100K 662,648 $47,193,767,606 14.2% 9.2%
>$100K - $150K 287,175 $35,157,045,956 6.2% 6.8%
>$150K - $350K 372,208 $83,607,998,720 8.0% 16.2%
>$350K - $1M 197,919 $112,593,061,665 4.2% 21.9%
>$1M - $2M 52,717 $73,053,341,485 1.1% 14.2%
>$2M - $5M 24,741 $73,546,628,249 0.5% 14.3%
>$5M 4,816 $33,800,766,694 0.1% 6.6%
* Overall average loan size is: $110K.
Approvals through 06/20/2020 6
Top PPP Lenders
Average Loan % of Total
Rank Lender Name Loan Count Net Dollars
Size Authority
1 JPMorgan Chase Bank 262,799 $28,798,003,966 $109,582 4.4%
2 Bank of America 333,020 $25,171,085,993 $75,584 3.8%
3 PNC Bank 72,822 $13,055,480,671 $179,279 2.0%
4 Truist Bank 75,759 $12,980,900,084 $171,345 2.0%
5 Wells Fargo Bank 178,533 $10,342,511,095 $57,931 1.6%
6 TD Bank 80,413 $8,401,331,673 $104,477 1.3%
7 KeyBank 39,820 $8,064,532,480 $202,525 1.2%
8 U.S. Bank 95,969 $7,261,899,367 $75,669 1.1%
9 Zions Bank 44,698 $6,863,405,854 $153,551 1.0%
10 M&T Bank 34,746 $6,785,924,329 $195,301 1.0%
11 Huntington Bank 35,534 $6,472,560,010 $182,151 1.0%
12 Fifth Third Bank 36,813 $5,406,605,847 $146,867 0.8%
13 Citizens Bank 49,271 $4,991,020,463 $101,297 0.8%
14 BMO Harris Bank 20,860 $4,775,070,376 $228,910 0.7%
15 Cross River Bank 106,575 $4,695,905,324 $44,062 0.7%
Approvals through 06/20/2020 7
Industry by NAICS Sector
Loan % of
NAICS Sector Description Net Dollars Amount
Count
Health Care and Social Assistance 487,386 $66,582,598,125 12.93%
Professional, Scientific, and Technical Services 608,025 $65,620,738,481 12.74%
Construction 446,670 $63,921,963,658 12.41%
Manufacturing 223,452 $53,620,614,368 10.41%
Accommodation and Food Services 354,085 $41,498,140,735 8.06%
Retail Trade 432,933 $39,907,699,244 7.75%
Other Services (except Public Administration) 498,756 $30,513,851,152 5.93%
Wholesale Trade 161,883 $27,514,653,734 5.34%
Administrative and Support and Waste Management and Remediation Services 230,321 $26,167,415,058 5.08%
Transportation and Warehousing 171,051 $16,605,493,181 3.22%
Real Estate and Rental and Leasing 232,660 $15,329,408,006 2.98%
Finance and Insurance 161,053 $12,034,233,705 2.34%
Educational Services 76,832 $11,828,903,631 2.30%
Unclassified Establishments 222,226 $9,916,122,340 1.93%
Information 65,837 $9,134,891,250 1.77%
Arts, Entertainment, and Recreation 110,809 $7,800,534,098 1.51%
Agriculture, Forestry, Fishing and Hunting 132,564 $7,726,040,628 1.50%
Mining 20,990 $4,472,952,752 0.87%
Public Administration 12,835 $1,714,610,439 0.33%
Management of Companies and Enterprises 8,571 $1,569,618,147 0.30%
Utilities 7,621 $1,459,307,183 0.28%
Approvals through 06/20/2020 8
Amount of Funding Remaining
$128,355,981,685
The above number is an approximation. SBA is currently revising remaining
funds amount with the enactment of the Paycheck Protection Program
Flexibility Act of 2020. Available funds captures approvals net of
cancellations as well as loan increases, decreases, and reinstatements. This
approximation accounts for statutory program costs.
Approvals through 06/20/2020 9
File and source
- File
- 2020-06_PPP_Report_200620.pdf
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- Our copy
- 2020-06_PPP_Report_200620.pdf
- Original
- www.sba.gov