Paycheck Protection Program (PPP) Report Approvals through 08/08/2020
Summary
The Small Business Administration's Paycheck Protection Program report of approvals through 08/08/2020 counts 5,212,128 loans with net dollars of $525,012,201,124 from 5,460 lenders, and notes that the program closed to new loan applications at 11:59pm on August 8, 2020. Lenders with less than $10 billion in assets made 2,745,204 loans worth $233,776,205,586, or 45% of the amount. JPMorgan Chase Bank led lenders with 280,185 loans worth $29,352,233,698, and CA led states with 623,360 loans worth $68,644,418,670. The overall average loan size was $101K. The report lists remaining funds of $133,987,798,876 out of the $659,000,000,000 authorized in Public Law 116-147, including the $10 billion PPP CDFI set aside.
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Paycheck Protection Program
(PPP) Report
Approvals through 08/08/2020
Summary of PPP Approved Lending
Loan Count Net Dollars Lender Count
5,212,128 $525,012,201,124 5,460
Lender % of
Lender Size Loan Count Net Dollars
Count Amount
>$50 B in Assets 34 1,696,961 $190,260,579,519 36%
$10 B to $50 B in Assets 88 769,963 $100,975,416,018 19%
<$10 B in Assets 5,338 2,745,204 $233,776,205,586 45%
The Paycheck Protection Program (PPP) closed to new loan applications at 11:59pm on
August 8, 2020.
Approvals through 08/08/2020 2
PPP Round 2 Lender Segments
Lender Count Loan Count
Lender Size Net Dollars Round 2
Round 2 Round 2
>$50 B in Assets 34 1,362,320 $95,031,882,206
$10 B to $50 B in Assets 88 470,889 $31,012,205,061
<$10 B in Assets 5,331 1,758,700 $79,035,596,201
Lender Count Loan Count
Lender Group Net Dollars Round 2
Round 2 Round 2
CDFIs 308 79,750 $3,343,312,437
CDFI lenders and associated loans are also captured in the <$10 billion or less lender asset size.
Approvals through 08/08/2020 3
Lender Segments
CDFI’s and MDI’s
Lender Type Lender Count Loan Count Net Dollars
CDFIs 308 114,717 $7,521,016,324
MDIs 175 123,615 $10,394,826,773
- minus CDFI/MDIs identified in both
groups
51 16,711 $1,511,447,279
Total 432 221,621 $16,404,395,818
Lenders with <$1b Assets and Non-Banks
Lender Type Lender Count Loan Count Net Dollars
Banks (less than $1b) 3,553 1,084,619 $84,947,576,047
Small Business Lending Companies 14 61,511 $6,429,280,309
Fintechs (and other State Regulated) 19 250,720 $6,050,562,792
Credit Unions (less than $1b) 719 67,846 $3,099,426,436
Farm Credit Lenders 54 15,876 $1,386,869,441
Savings & Loans (less than $1b) 77 11,769 $1,042,472,101
Certified Development Companies 19 8,463 $401,533,542
Non Bank CDFI Funds 8 9,598 $367,938,078
Microlenders 32 8,774 $238,627,841
BIDCOs 1 24 $791,088
Total 4,496 1,519,200 $103,965,077,675
* Loans from CDFI/MDI banks with <$1b Assets and non-bank CDFIs are captured in both tables.
Approvals through 08/08/2020 4
States and Territories
State Loan Count Net Dollars State Loan Count Net Dollars State Loan Count Net Dollars
AK 12,087 $1,311,919,096 LA 78,866 $7,461,129,155 OR 66,344 $7,057,574,349
AL 70,331 $6,245,496,446 MA 118,392 $14,315,290,705 PA 173,552 $20,742,750,517
AR 43,669 $3,333,413,929 MD 87,007 $10,054,456,506 PR 39,544 $1,821,671,163
AS 296 $12,233,986 ME 28,309 $2,266,870,258 RI 17,942 $1,905,859,786
AZ 85,771 $8,683,213,943 MI 128,159 $16,040,039,297 SC 67,176 $5,791,085,572
CA 623,360 $68,644,418,670 MN 102,352 $11,269,172,424 SD 23,494 $1,682,896,085
CO 109,170 $10,402,528,373 MO 95,599 $9,194,916,076 TN 99,579 $8,970,935,809
CT 64,629 $6,718,327,006 MP 482 $38,700,116 TX 417,276 $41,326,454,268
DC 13,510 $2,145,594,401 MS 48,545 $3,209,532,093 UT 52,275 $5,257,258,177
DE 13,202 $1,520,789,172 MT 23,908 $1,780,415,878 VA 114,570 $12,588,096,276
FL 432,893 $32,251,422,436 NC 129,289 $12,288,152,674 VI 2,057 $126,446,683
GA 174,429 $14,688,047,519 ND 20,510 $1,775,524,393 VT 12,401 $1,201,175,929
GU 2,208 $192,074,123 NE 44,074 $3,442,626,881 WA 107,659 $12,464,918,993
HI 25,097 $2,478,864,703 NH 24,741 $2,563,295,034 WI 89,615 $9,908,335,442
IA 61,418 $5,124,660,961 NJ 157,405 $17,360,085,952 WV 18,062 $1,802,521,277
ID 31,056 $2,593,497,832 NM 23,033 $2,268,802,500 WY 13,586 $1,052,798,882
IL 225,409 $22,849,324,883 NV 45,771 $4,215,380,081 To be confirmed 139 $6,057,463
IN 83,246 $9,558,833,007 NY 348,870 $38,699,947,686
KS 53,755 $5,031,013,626 OH 149,144 $18,532,840,346
KY 50,655 $5,282,244,302 OK 66,210 $5,460,267,982
Approvals through 08/08/2020 5
Loan Size
Loan Size Loan Count Net Dollars % of Count % of Amount
$50K and Under 3,574,110 $62,742,565,653 68.6% 12.0%
>$50K - $100K 683,785 $48,676,961,052 13.1% 9.3%
>$100K - $150K 294,557 $36,058,010,813 5.7% 6.9%
>$150K - $350K 377,797 $84,782,932,509 7.2% 16.1%
>$350K - $1M 199,679 $113,558,427,234 3.8% 21.6%
>$1M - $2M 53,218 $73,887,171,387 1.0% 14.1%
>$2M - $5M 24,248 $72,184,996,045 0.5% 13.7%
>$5M 4,734 $33,121,136,431 0.1% 6.3%
* Overall average loan size is: $101K.
Approvals through 08/08/2020 6
Top PPP Lenders
Average Loan % of Total
Rank Lender Name Loan Count Net Dollars
Size Authority
1 JPMorgan Chase Bank 280,185 $29,352,233,698 $104,760 4.4%
2 Bank of America 343,626 $25,557,615,698 $74,376 3.9%
3 PNC Bank 73,925 $13,003,814,963 $175,906 2.0%
4 Truist Bank 82,047 $12,631,618,727 $153,956 1.9%
5 Wells Fargo Bank 194,451 $10,597,856,807 $54,501 1.6%
6 TD Bank 85,970 $8,557,036,274 $99,535 1.3%
7 KeyBank 43,172 $8,211,676,707 $190,208 1.2%
8 U.S. Bank 108,365 $7,608,550,070 $70,212 1.2%
9 Zions Bank 47,828 $7,003,731,087 $146,436 1.1%
10 M&T Bank 34,651 $6,762,506,609 $195,161 1.0%
11 Huntington Bank 38,486 $6,575,686,696 $170,859 1.0%
12 Cross River Bank 198,738 $6,550,306,889 $32,960 1.0%
13 Fifth Third Bank 40,071 $5,422,983,389 $135,334 0.8%
14 Citizens Bank 50,822 $4,853,066,362 $95,491 0.7%
15 BMO Harris Bank 21,993 $4,835,997,160 $219,888 0.7%
Approvals through 08/08/2020 7
Industry by NAICS Sector
NAICS Sector Description Loan Count Net Dollars % of Amount
Health Care and Social Assistance 532,775 $67,802,899,625 12.91%
Professional, Scientific, and Technical Services 681,111 $66,806,585,368 12.72%
Construction 496,551 $65,070,483,743 12.39%
Manufacturing 238,494 $54,101,623,487 10.30%
Accommodation and Food Services 383,561 $42,477,369,498 8.09%
Retail Trade 472,418 $40,576,055,345 7.73%
Other Services (except Public Administration) 583,385 $31,687,938,997 6.04%
Wholesale Trade 174,707 $27,650,501,453 5.27%
Administrative and Support and Waste Management and Remediation Services 258,907 $26,591,901,997 5.07%
Transportation and Warehousing 229,565 $17,522,942,736 3.34%
Real Estate and Rental and Leasing 262,921 $15,732,532,646 3.00%
Finance and Insurance 181,493 $12,202,534,934 2.32%
Educational Services 88,022 $12,075,274,769 2.30%
Unclassified Establishments 219,502 $9,652,279,182 1.84%
Information 73,824 $9,336,848,657 1.78%
Arts, Entertainment, and Recreation 130,760 $8,223,383,720 1.57%
Agriculture, Forestry, Fishing and Hunting 149,535 $8,140,628,410 1.55%
Mining 22,503 $4,542,309,832 0.87%
Public Administration 14,291 $1,755,782,485 0.33%
Management of Companies and Enterprises 9,472 $1,561,247,060 0.30%
Utilities 8,331 $1,501,077,180 0.29%
Approvals through 08/08/2020 8
Amount of Funding Remaining
$ 133,987,798,876
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.
These are the remaining funds from the $659,000,000,000 authorized in
Public Law 116-147.
Approvals through 08/08/2020 9
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