Paycheck Protection Program (PPP) Report (Approvals through 06/27/2020)
Summary
The Small Business Administration's Paycheck Protection Program report of approvals through 06/27/2020 counts 4,798,187 loans with net dollars of $518,855,402,128 from 5,458 lenders. JPMorgan Chase Bank led lenders with 268,860 loans worth $29,032,585,759, Bank of America followed with $25,202,751,172, and Truist Bank ranked third with $13,050,990,639. Community development financial institutions made 66,817 loans worth $3,091,945,241 in the round 2 lender table. California led states with 569,336 loans, and the overall average loan size was $108K. The report lists $134,453,990,454 in funding remaining, an amount that includes the $10 billion PPP CDFI set aside.
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Paycheck Protection Program
(PPP) Report
Approvals through 06/27/2020
Summary of PPP Approved Lending
Loan Count Net Dollars Lender Count
4,798,187 $518,855,402,128 5,458
Lender Loan % of
Lender Size Net Dollars
Count Count Amount
>$50 B in Assets 34 1,631,228 $189,419,707,164 37%
$10 B to $50 B in Assets 89 731,808 $100,462,643,372 19%
<$10 B in Assets 5,335 2,435,151 $228,973,051,592 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 06/27/2020 2
PPP Round 2 Lender Segments
Lender Loan
Lender Size Count Count Net Dollars Round 2
Round 2 Round 2
>$50 B in Assets 34 1,296,221 $93,264,243,716
$10 B to $50 B in Assets 89 433,053 $30,099,491,110
<$10 B in Assets 5,325 1,446,250 $72,730,966,245
Lender Loan
Lender Group Count Count Net Dollars Round 2
Round 2 Round 2
CDFIs 302 66,817 $3,091,945,241
CDFI lenders and associated loans are also captured in the <$10 billion or less lender asset size.
Approvals through 06/27/2020 3
Lender Segments
CDFI’s and MDI’s
Lender Type Lender Count Loan Count Net Dollars
CDFIs 303 101,799 $7,308,824,055
MDIs 171 116,160 $10,340,423,585
- minus CDFI/MDIs identified in
both groups 50 15,121 $1,492,044,482
Total 424 202,838 $16,157,203,158
Lenders with <$1b Assets and Non-Banks
Lender Type Lender Count Loan Count Net Dollars
Banks (less than $1b) 3,563 1,043,598 $84,644,341,288
Small Business Lending Companies 14 59,569 $6,541,182,430
Fintechs (and other State Regulated) 19 136,357 $3,858,923,051
Credit Unions (less than $1b) 722 60,843 $2,986,484,375
Farm Credit Lenders 54 14,835 $1,319,601,387
Savings & Loans (less than $1b) 77 11,231 $1,027,499,601
Certified Development Companies 19 6,979 $364,614,980
Non Bank CDFI Funds 8 6,901 $321,271,263
Microlenders 32 6,320 $194,917,276
BIDCOs 1 23 $787,713
Total 4,509 1,346,656 $101,259,623,364
* Loans from CDFI/MDI banks with <$1b Assets and non-bank CDFIs are captured in both tables.
Approvals through 06/27/2020 4
States and Territories
Loan Loan
State Loan Count Net Dollars State Count Net Dollars State Count Net Dollars
AK 10,756 $1,233,644,499 LA 72,645 $7,316,063,214 OR 61,800 $6,939,279,952
AL 64,667 $6,165,616,091 MA 111,152 $14,268,149,853 PA 163,696 $20,637,675,204
PR 36,417 $1,784,635,577
AR 42,000 $3,299,378,272 MD 79,723 $9,989,234,747
RI 16,982 $1,876,830,192
AS 197 $8,735,518 ME 26,834 $2,236,890,212
SC 62,235 $5,707,223,623
AZ 79,580 $8,583,330,697 MI 119,516 $15,915,503,397
SD 22,162 $1,658,861,112
CA 569,336 $67,777,200,304 MN 96,572 $11,167,877,245
TN 91,717 $8,880,114,257
CO 102,962 $10,321,799,397 MO 90,188 $9,118,743,944 TX 382,408 $40,838,460,622
CT 59,876 $6,663,078,501 MP 461 $38,791,593 UT 50,055 $5,226,458,471
DC 12,202 $2,130,102,857 MS 45,048 $3,150,339,494 VA 107,440 $12,570,951,028
DE 12,288 $1,480,680,114 MT 22,834 $1,756,614,546 VI 1,724 $122,469,285
FL 384,197 $31,768,331,319 NC 119,981 $12,358,751,351 VT 11,703 $1,182,442,434
GA 152,382 $14,365,898,579 ND 19,521 $1,761,535,483 WA 99,213 $12,231,812,230
GU 2,098 $195,183,495 NE 41,986 $3,411,786,941 WI 84,301 $9,853,564,615
HI 24,349 $2,492,401,915 NH 23,496 $2,541,909,616 WV 17,126 $1,795,668,504
IA 57,638 $5,069,317,918 NJ 144,523 $17,099,289,297 WY 13,124 $1,032,840,878
ID 29,785 $2,561,865,139 NM 21,599 $2,226,845,848 To be confirmed 167 $6,057,463
IL 198,623 $22,389,201,841 NV 41,265 $4,102,106,061
IN 77,872 $9,457,392,872 NY 316,814 $38,131,011,768
KS 51,254 $4,982,354,655 OH 138,286 $18,307,963,442
KY 47,758 $5,228,592,883 OK 63,653 $5,436,541,768
Approvals through 06/27/2020 5
Loan Size
% of % of
Loan Size Loan Count Net Dollars
Count Amount
$50K and Under 3,183,498 $57,597,025,357 66.3% 11.1%
>$50K - $100K 669,290 $47,662,184,747 13.9% 9.2%
>$100K - $150K 289,515 $35,442,416,547 6.0% 6.8%
>$150K - $350K 374,538 $84,111,757,522 7.8% 16.2%
>$350K - $1M 198,810 $113,084,450,925 4.1% 21.8%
>$1M - $2M 52,909 $73,337,653,204 1.1% 14.1%
>$2M - $5M 24,799 $73,726,122,011 0.5% 14.2%
>$5M 4,828 $33,893,791,814 0.1% 6.5%
* Overall average loan size is: $108K.
Approvals through 06/27/2020 6
Top PPP Lenders
% of Total
Rank Lender Name Loan Count Net Dollars Average Loan Size
Authority
1 JPMorgan Chase Bank 268,860 $29,032,585,759 $107,984 4.4%
2 Bank of America 334,686 $25,202,751,172 $75,303 3.8%
3 Truist Bank 77,875 $13,050,990,639 $167,589 2.0%
4 PNC Bank 72,872 $13,037,062,712 $178,904 2.0%
5 Wells Fargo Bank 184,072 $10,433,777,964 $56,683 1.6%
6 TD Bank 82,225 $8,456,955,445 $102,851 1.3%
7 KeyBank 40,805 $8,102,976,968 $198,578 1.2%
8 U.S. Bank 99,561 $7,381,274,983 $74,138 1.1%
9 Zions Bank 45,697 $6,898,745,154 $150,967 1.0%
10 M&T Bank 34,695 $6,791,320,836 $195,744 1.0%
11 Huntington Bank 36,957 $6,523,662,911 $176,520 1.0%
12 Fifth Third Bank 37,922 $5,427,720,538 $143,129 0.8%
13 Cross River Bank 121,310 $5,053,366,143 $41,657 0.8%
14 Citizens Bank 49,654 $5,005,837,098 $100,814 0.8%
15 BMO Harris Bank 21,214 $4,793,567,294 $225,962 0.7%
Approvals through 06/27/2020 7
Industry by NAICS Sector
Loan % of
NAICS Sector Description Net Dollars Amount
Count
Health Care and Social Assistance 498,619 $67,063,958,653 12.93%
Professional, Scientific, and Technical Services 625,899 $66,086,051,708 12.74%
Construction 458,166 $64,295,009,595 12.39%
Manufacturing 227,059 $53,832,465,033 10.38%
Accommodation and Food Services 362,510 $41,880,450,146 8.07%
Retail Trade 444,069 $40,196,971,939 7.75%
Other Services (except Public Administration) 518,787 $30,904,749,176 5.96%
Wholesale Trade 165,129 $27,640,515,965 5.33%
Administrative and Support and Waste Management and Remediation Services 236,708 $26,372,821,783 5.08%
Transportation and Warehousing 183,722 $16,899,067,667 3.26%
Real Estate and Rental and Leasing 240,355 $15,503,827,329 2.99%
Finance and Insurance 165,437 $12,123,849,534 2.34%
Educational Services 79,507 $11,928,442,621 2.30%
Unclassified Establishments 222,082 $9,902,996,225 1.91%
Information 67,776 $9,208,023,372 1.77%
Arts, Entertainment, and Recreation 115,236 $7,929,438,187 1.53%
Agriculture, Forestry, Fishing and Hunting 136,032 $7,802,331,432 1.50%
Mining 21,336 $4,496,607,831 0.87%
Public Administration 13,193 $1,723,463,530 0.33%
Management of Companies and Enterprises 8,772 $1,578,022,056 0.30%
Utilities 7,793 $1,486,338,345 0.29%
Approvals through 06/27/2020 8
Amount of Funding Remaining
$134,453,990,454
Available funds captures approvals net of cancellations as well as loan
increases, decreases, and reinstatements. This amount accounts for statutory
program costs. This amount also includes $10 billion PPP CDFI set aside.
Approvals through 06/27/2020 9
File and source
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