Paycheck Protection Program (PPP) Report (Approvals through 07/10/2020)
Summary
This SBA Paycheck Protection Program report covers approvals through 07/10/2020: 4,907,655 loans for $517,417,286,175 in net dollars from 5,454 lenders, with totals reflecting both rounds of funding and net of cancellations. Lenders with more than $50 B in assets accounted for 36% of the amount, those with $10 B to $50 B for 19% and those under $10 B for 44%. The report counts 303 CDFIs with 106,269 loans for $7,342,856,435 and 171 MDIs with 119,217 loans for $10,263,492,873, and ranks the top lenders, led by JPMorgan Chase Bank at $28,895,195,602 and Bank of America at $25,235,794,526. Loans of $50K and under were 67.0% of the count but 11.4% of the amount, the overall average loan size was $105K, and $132,189,028,196 in funding remained, including the $10 billion PPP CDFI set aside.
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Paycheck Protection Program
(PPP) Report
Approvals through 07/10/2020
Summary of PPP Approved Lending
Loan Count Net Dollars Lender Count
4,907,655 $517,417,286,175 5,454
Lender Loan % of
Lender Size Net Dollars
Count Count Amount
>$50 B in Assets 34 1,639,549 $188,294,821,172 36%
$10 B to $50 B in Assets 88 742,285 $100,118,534,194 19%
<$10 B in Assets 5,332 2,525,821 $229,003,930,809 44%
SBA has updated its weekly PPP reporting methodology to improve consistency with the agency’s financial reporting.
Totals reflect both rounds of PPP funding and cancellations, decreases and partial cancellations through the report date.
Cancellations include duplicative loans, loans not closed for any reason, and loans that have been fully paid off.
Approvals through 07/10/2020 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 1,304,595 $92,959,906,318
$10 B to $50 B in Assets 88 443,145 $30,129,879,789
<$10 B in Assets 5,323 1,538,691 $74,133,606,502
Lender Loan
Lender Group Count Count Net Dollars Round 2
Round 2 Round 2
CDFIs 303 71,293 $3,163,601,494
CDFI lenders and associated loans are also captured in the <$10 billion or less lender asset size.
Approvals through 07/10/2020 3
Lender Segments
CDFI’s and MDI’s
Lender Type Lender Count Loan Count Net Dollars
CDFIs 303 106,269 $7,342,856,435
MDIs 171 119,217 $10,263,492,873
- minus CDFI/MDIs identified in
both groups 50 15,567 $1,483,885,270
Total 424 209,919 $16,122,464,038
Lenders with <$1b Assets and Non-Banks
Lender Type Lender Count Loan Count Net Dollars
Banks (less than $1b) 3,558 1,061,058 $84,387,946,083
Small Business Lending Companies 14 59,316 $6,281,523,800
Fintechs (and other State Regulated) 19 162,388 $4,478,790,748
Credit Unions (less than $1b) 722 63,238 $3,023,347,928
Farm Credit Lenders 54 15,198 $1,331,480,207
Savings & Loans (less than $1b) 77 11,450 $1,034,586,436
Certified Development Companies 19 7,566 $380,783,395
Non Bank CDFI Funds 8 8,047 $332,403,986
Microlenders 32 7,115 $208,007,293
BIDCOs 1 24 $791,088
Total 4,504 1,395,400 $101,459,660,966
* Loans from CDFI/MDI banks with <$1b Assets and non-bank CDFIs are captured in both tables.
Approvals through 07/10/2020 4
States and Territories
Loan Loan
State Loan Count Net Dollars State Count Net Dollars State Count Net Dollars
OR 62,980 $6,947,651,477
AK 11,201 $1,268,152,120 LA 74,250 $7,341,780,863
PA 166,404 $20,521,899,138
AL 66,178 $6,171,776,434 MA 113,301 $14,197,422,481
PR 37,925 $1,798,649,151
AR 42,524 $3,306,785,127 MD 81,753 $9,929,429,909 RI 17,167 $1,870,579,859
AS 235 $10,684,152 ME 27,289 $2,240,668,033 SC 63,448 $5,698,244,845
AZ 81,320 $8,562,279,019 MI 121,538 $15,834,698,177 SD 22,584 $1,671,924,089
CA 584,057 $67,434,221,209 MN 98,364 $11,171,723,926 TN 93,750 $8,869,473,952
CO 104,665 $10,307,838,005 MO 91,797 $9,114,411,429 TX 391,472 $40,722,020,170
UT 50,815 $5,221,711,829
CT 61,246 $6,649,978,553 MP 475 $38,689,913
VA 109,698 $12,468,659,792
DC 12,536 $2,119,096,826 MS 45,990 $3,155,763,306
VI 1,890 $124,243,481
DE 12,539 $1,493,085,658 MT 23,146 $1,761,444,012 VT 11,961 $1,188,922,429
FL 395,658 $31,527,299,634 NC 122,562 $12,125,177,812 WA 101,515 $12,269,322,605
GA 158,328 $14,332,157,048 ND 19,774 $1,763,437,217 WI 85,806 $9,830,157,855
GU 2,163 $191,708,668 NE 42,663 $3,421,955,547 WV 17,365 $1,778,746,913
HI 24,566 $2,462,532,625 NH 23,904 $2,544,316,043 WY 13,248 $1,040,320,844
To be confirmed 145 $6,057,463
IA 58,695 $5,086,069,154 NJ 148,293 $17,101,659,046
ID 30,233 $2,576,539,776 NM 21,970 $2,236,426,746
IL 203,147 $22,319,757,145 NV 42,371 $4,113,951,571
IN 79,373 $9,444,978,210 NY 325,688 $38,074,956,614
KS 52,032 $5,000,704,255 OH 140,682 $18,291,389,124
KY 48,516 $5,232,005,575 OK 64,460 $5,431,749,320
Approvals through 07/10/2020 5
Loan Size
% of % of
Loan Size Loan Count Net Dollars
Count Amount
$50K and Under 3,289,259 $58,924,317,548 67.0% 11.4%
>$50K - $100K 673,105 $47,925,204,459 13.7% 9.3%
>$100K - $150K 290,329 $35,534,531,720 5.9% 6.9%
>$150K - $350K 374,674 $84,089,961,753 7.6% 16.3%
>$350K - $1M 198,518 $112,914,656,802 4.0% 21.8%
>$1M - $2M 52,931 $73,475,210,072 1.1% 14.2%
>$2M - $5M 24,164 $71,909,398,898 0.5% 13.9%
>$5M 4,675 $32,644,004,921 0.1% 6.3%
* Overall average loan size is: $105K.
Approvals through 07/10/2020 6
Top PPP Lenders
% of Total
Rank Lender Name Loan Count Net Dollars Average Loan Size
Authority
1 JPMorgan Chase Bank 269,334 $28,895,195,602 $107,284 4.4%
2 Bank of America 334,210 $25,235,794,526 $75,509 3.8%
3 PNC Bank 72,861 $12,955,859,763 $177,816 2.0%
4 Truist Bank 79,219 $12,564,160,606 $158,600 1.9%
5 Wells Fargo Bank 185,238 $10,368,597,572 $55,974 1.6%
6 TD Bank 83,068 $8,450,839,097 $101,734 1.3%
7 KeyBank 41,501 $8,136,520,088 $196,056 1.2%
8 U.S. Bank 101,326 $7,423,395,923 $73,262 1.1%
9 Zions Bank 46,668 $6,932,780,587 $148,555 1.1%
10 M&T Bank 34,679 $6,775,786,114 $195,386 1.0%
11 Huntington Bank 37,116 $6,505,730,515 $175,281 1.0%
12 Cross River Bank 145,727 $5,551,827,610 $38,097 0.8%
13 Fifth Third Bank 38,156 $5,363,051,466 $140,556 0.8%
14 Citizens Bank 49,641 $4,828,700,097 $97,272 0.7%
15 BMO Harris Bank 21,398 $4,804,777,294 $224,543 0.7%
Approvals through 07/10/2020 7
Industry by NAICS Sector
Loan % of
NAICS Sector Description Net Dollars Amount
Count
Health Care and Social Assistance 508,145 $66,781,156,115 12.91%
Professional, Scientific, and Technical Services 641,118 $65,943,363,570 12.74%
Construction 468,156 $64,113,731,038 12.39%
Manufacturing 230,003 $53,696,102,072 10.38%
Accommodation and Food Services 368,311 $41,874,859,061 8.09%
Retail Trade 451,441 $40,080,460,085 7.75%
Other Services (except Public Administration) 535,476 $30,876,639,581 5.97%
Wholesale Trade 167,698 $27,506,682,339 5.32%
Administrative and Support and Waste Management and Remediation Services 241,866 $26,205,302,079 5.06%
Transportation and Warehousing 194,794 $16,913,955,937 3.27%
Real Estate and Rental and Leasing 247,091 $15,420,146,121 2.98%
Finance and Insurance 169,475 $12,000,306,409 2.32%
Educational Services 81,800 $11,894,209,521 2.30%
Unclassified Establishments 221,914 $9,833,348,981 1.90%
Information 69,358 $9,205,660,921 1.78%
Arts, Entertainment, and Recreation 119,310 $7,971,161,316 1.54%
Agriculture, Forestry, Fishing and Hunting 139,729 $7,876,179,303 1.52%
Mining 21,616 $4,469,100,815 0.86%
Public Administration 13,459 $1,728,736,616 0.33%
Management of Companies and Enterprises 8,937 $1,551,745,946 0.30%
Utilities 7,958 $1,474,438,348 0.28%
Approvals through 07/10/2020 8
Amount of Funding Remaining
$132,189,028,196
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 07/10/2020 9
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