Paycheck Protection Program Report through July 31, 2020
Summary
This Paycheck Protection Program (PPP) report counts 5,083,585 loans for $521,385,950,607 in net dollars from 5,459 lenders through 07/31/2020. It names the top lenders: JPMorgan Chase Bank with 277,207 loans and $29,162,916,538, then Bank of America with 342,674 loans and $25,532,186,023, then PNC Bank. Loans of $50K and under were 67.9% of the count but 11.7% of the dollars, and the overall average loan size is $103K. By sector, Health Care and Social Assistance led with $67,308,168,304, or 12.91%, ahead of Professional, Scientific, and Technical Services and Construction. The report puts the amount of funding remaining at $128,230,770,853, which includes the $10 billion PPP CDFI set aside.
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Paycheck Protection Program
(PPP) Report
Approvals through 07/31/2020
Summary of PPP Approved Lending
Loan Count Net Dollars Lender Count
5,083,585 $521,385,950,607 5,459
Lender % of
Lender Size Loan Count Net Dollars
Count Amount
>$50 B in Assets 34 1,680,603 $189,576,715,871 36%
$10 B to $50 B in Assets 88 759,700 $100,576,810,458 19%
<$10 B in Assets 5,337 2,643,282 $231,232,424,278 44%
Approvals through 07/31/2020 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 1,345,818 $94,316,797,886
$10 B to $50 B in Assets 88 460,596 $30,591,245,456
<$10 B in Assets 5,330 1,656,379 $76,452,202,441
Lender Count Loan Count
Lender Group Net Dollars Round 2
Round 2 Round 2
CDFIs 303 75,365 $3,243,300,713
CDFI lenders and associated loans are also captured in the <$10 billion or less lender asset size.
Approvals through 07/31/2020 3
Lender Segments
CDFI’s and MDI’s
Lender Type Lender Count Loan Count Net Dollars
CDFIs 303 110,334 $7,421,063,655
MDIs 171 121,217 $10,316,925,750
- minus CDFI/MDIs identified in both
groups
50 15,939 $1,491,968,850
Total 424 215,612 $16,246,020,555
Lenders with <$1b Assets and Non-Banks
Lender Type Lender Count Loan Count Net Dollars
Banks (less than $1b) 3,554 1,073,647 $84,623,328,540
Small Business Lending Companies 14 60,427 $6,315,038,429
Fintechs (and other State Regulated) 19 211,225 $5,250,416,928
Credit Unions (less than $1b) 721 65,514 $3,060,458,500
Farm Credit Lenders 54 15,527 $1,360,370,915
Savings & Loans (less than $1b) 77 11,619 $1,039,693,286
Certified Development Companies 19 7,984 $391,778,167
Non Bank CDFI Funds 8 8,773 $338,726,996
Microlenders 32 7,874 $223,180,753
BIDCOs 1 24 $791,088
Total 4,499 1,462,614 $102,603,783,603
* Loans from CDFI/MDI banks with <$1b Assets and non-bank CDFIs are captured in both tables.
Approvals through 07/31/2020 4
States and Territories
State Loan Count Net Dollars State Loan Count Net Dollars State Loan Count Net Dollars
AK 11,597 $1,278,375,015 LA 76,832 $7,401,419,649 OR 64,978 $7,013,309,432
AL 68,568 $6,205,676,213 MA 116,238 $14,265,040,129 PA 170,519 $20,632,038,111
AR 43,181 $3,319,669,200 MD 84,920 $10,001,319,321 PR 38,711 $1,813,359,440
AS 259 $11,016,204 ME 27,905 $2,252,825,456 RI 17,642 $1,884,482,260
AZ 84,042 $8,630,069,735 MI 125,094 $15,944,809,595 SC 65,429 $5,753,717,786
CA 608,970 $68,102,850,783 MN 100,630 $11,216,984,644 SD 23,088 $1,678,104,639
CO 107,181 $10,357,045,284 MO 93,965 $9,153,617,057 TN 97,036 $8,925,294,932
CT 63,311 $6,682,944,019 MP 476 $38,630,902 TX 406,255 $41,049,302,036
DC 13,103 $2,134,443,514 MS 47,479 $3,186,806,314 UT 51,622 $5,241,123,512
DE 12,936 $1,512,644,549 MT 23,598 $1,773,838,698 VA 112,772 $12,529,357,126
FL 418,578 $31,923,739,302 NC 126,557 $12,218,361,926 VI 1,966 $125,412,207
GA 167,398 $14,504,842,386 ND 20,202 $1,770,569,664 VT 12,200 $1,195,178,399
GU 2,185 $191,329,582 NE 43,509 $3,431,986,277 WA 105,186 $12,385,901,033
HI 24,914 $2,477,975,867 NH 24,391 $2,554,783,883 WI 87,893 $9,874,226,971
IA 60,256 $5,108,066,873 NJ 153,937 $17,245,430,834 WV 17,746 $1,786,238,748
ID 30,696 $2,586,072,870 NM 22,533 $2,256,328,889 WY 13,455 $1,044,975,490
IL 212,921 $22,538,624,359 NV 44,412 $4,168,400,660 To be confirmed 139 $6,057,463
IN 81,361 $9,509,510,020 NY 339,340 $38,356,213,887
KS 53,079 $5,017,971,980 OH 145,112 $18,401,039,628
KY 49,759 $5,261,534,952 OK 65,523 $5,455,060,901
Approvals through 07/31/2020 5
Loan Size
Loan Size Loan Count Net Dollars % of Count % of Amount
$50K and Under 3,453,978 $61,078,871,100 67.9% 11.7%
>$50K - $100K 679,444 $48,370,144,488 13.4% 9.3%
>$100K - $150K 292,711 $35,827,739,335 5.8% 6.9%
>$150K - $350K 376,373 $84,465,474,535 7.4% 16.2%
>$350K - $1M 199,145 $113,252,369,404 3.9% 21.7%
>$1M - $2M 53,060 $73,654,479,183 1.0% 14.1%
>$2M - $5M 24,190 $72,001,579,739 0.5% 13.8%
>$5M 4,684 $32,735,292,822 0.1% 6.3%
* Overall average loan size is: $103K.
Approvals through 07/31/2020 6
Top PPP Lenders
Average Loan % of Total
Rank Lender Name Loan Count Net Dollars
Size Authority
1 JPMorgan Chase Bank 277,207 $29,162,916,538 $105,203 4.4%
2 Bank of America 342,674 $25,532,186,023 $74,509 3.9%
3 PNC Bank 73,533 $12,987,134,713 $176,616 2.0%
4 Truist Bank 81,700 $12,653,915,966 $154,883 1.9%
5 Wells Fargo Bank 192,995 $10,560,061,481 $54,717 1.6%
6 TD Bank 84,818 $8,525,887,171 $100,520 1.3%
7 KeyBank 42,093 $8,148,386,648 $193,581 1.2%
8 U.S. Bank 105,335 $7,538,576,257 $71,568 1.1%
9 Zions Bank 47,393 $6,970,952,487 $147,088 1.1%
10 M&T Bank 34,651 $6,762,506,609 $195,161 1.0%
11 Huntington Bank 37,467 $6,527,738,926 $174,226 1.0%
12 Cross River Bank 176,666 $6,105,243,499 $34,558 0.9%
13 Fifth Third Bank 39,520 $5,410,164,132 $136,897 0.8%
14 Citizens Bank 50,646 $4,851,713,539 $95,797 0.7%
15 BMO Harris Bank 21,805 $4,817,089,797 $220,917 0.7%
Approvals through 07/31/2020 7
Industry by NAICS Sector
NAICS Sector Description Loan Count Net Dollars % of Amount
Health Care and Social Assistance 522,900 $67,308,168,304 12.91%
Professional, Scientific, and Technical Services 664,941 $66,431,416,001 12.74%
Construction 484,806 $64,697,933,772 12.41%
Manufacturing 234,948 $53,922,171,696 10.34%
Accommodation and Food Services 377,460 $42,226,563,861 8.10%
Retail Trade 463,764 $40,378,607,813 7.74%
Other Services (except Public Administration) 563,154 $31,286,196,747 6.00%
Wholesale Trade 171,553 $27,508,783,153 5.28%
Administrative and Support and Waste Management and Remediation Services 251,285 $26,381,319,807 5.06%
Transportation and Warehousing 215,982 $17,241,704,592 3.31%
Real Estate and Rental and Leasing 256,412 $15,605,067,970 2.99%
Finance and Insurance 175,760 $12,088,513,425 2.32%
Educational Services 85,426 $11,982,020,521 2.30%
Unclassified Establishments 219,582 $9,655,072,807 1.85%
Information 72,057 $9,279,228,782 1.78%
Arts, Entertainment, and Recreation 125,777 $8,089,594,232 1.55%
Agriculture, Forestry, Fishing and Hunting 144,334 $7,994,868,458 1.53%
Mining 22,156 $4,521,098,771 0.87%
Public Administration 13,956 $1,748,125,718 0.34%
Management of Companies and Enterprises 9,137 $1,548,812,402 0.30%
Utilities 8,195 $1,490,681,774 0.29%
Approvals through 07/31/2020 8
Amount of Funding Remaining
$128,230,770,853
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 07/31/2020 9
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