SBA COVID Relief Program Report (2021.02.19 - SBA COVID Relief Program Report - vFINALSHARE-508)
Summary
This SBA COVID Relief Program Report carries Paycheck Protection Program figures as of 02/18/21: 1,991,572 in Loan Intake for $154.1B, and 1,804,910 Loans Approved for $133.5B at an Avg Loan Size of $73,966. A PPP page says 94% of all loans are less than $250k, totaling 51% of loan volume. Rural loans are listed at 481,627 and $23,169,670,022, or 17.36% of approved dollars. Forgiveness is ~32% of loans, totaling ~29% of total 2020 PPP volume, and EIDL has approved $199.7B in loans since April.
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“SBA COVID Relief Program Report (2021.02.19 - SBA COVID Relief Program Report - vFINALSHARE-508).”
Original at legacy.sba.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/sba-covid-relief-program-report-2021-02-19-sba-covid-relief-program-re-96e09177a4/
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Paycheck Protection
Program
Data as of 02/18/21
PPP | The current round of PPP is pacing steadily
Loan Intake* Loan Intake* ($) Loans Approved Approved ($) Avg Loan Size
1,991,572 $154.1B 1,804,910 $133.5B $73,966
$14 $160
Billions Billions
$12 $140
All lenders
permitted $120
$10
$100
$8
Lenders <$1B
$80
$6 allowed to lend
$60
$4
$40
$2 $20
$0 $0
1/11 1/12 1/13 1/14 1/15 1/16 1/17 1/18 1/19 1/20 1/21 1/22 1/23 1/24 1/25 1/26 1/27 1/28 1/29 1/30 1/31 2/1 2/2 2/3 2/4 2/5 2/6 2/7 2/8 2/9 2/10 2/11 2/12 2/13 2/14 2/15 2/16 2/17 2/18
Loan Intake Dollars Approved Dollars Cumulative
*Loan Intake defined as PPP loan guarantee applications submitted to SBA for processing
3
PPP | The Administration is focused on ensuring equitable access of PPP
funds. The current round is on pace to pass some of the defined set-asides in
the statute
PPP lending over time Set Aside Breakdown by Approved $
$160 100.0%
Total Volume** ($) Total Set Aside
Billions
$140 90.0%
80.0% First Draw Loans <=10 employees $8.4B
$120
$15B
70.0% First Draw Loans LMI & < $250k $2.4B
$100 60.0%
Second Draw Loans <=10 employees $31.2B
$80 50.0% $25B
40.0% Second Draw Loans LMI & <$250k $13.7B
$60
30.0% Community Financial Institutions $5.9B $15B
$40
20.0% First & Second Draw from IDIs, CUs,
$20 10.0% FCSIs < $10B * $66.5B $15B
$0 0.0% New First Draw Borrowers $11.9B $35B
1/11 1/13 1/15 1/17 1/19 1/21 1/23 1/25 1/27 1/29 1/31 2/2 2/4 2/6 2/8 2/10 2/12 2/14 2/16 2/18
*Insured Depository Institutions, Credit Unions, and Farm Credit System Institutions
Cumulative Approved ($) % LMI % Rural % <$150k **Set asides are being treated as mutually exclusive, thus total assigned amount from an
accounting standpoint is lower than the total volume above
LMI* Rural* <$150k
Program Averages (by approved $) 24.9% 17.4% 39.0%
4
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
PPP | The current round of PPP is successfully reaching smaller borrowers
with 94% of all loans less than $250k, totaling 51% of loan volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved ($)
$250K - $1M, 5% >$1M, 1%
$100K -
$250K, 11% >$1M, 17%
<$100K <$100K, 29% <$100K
$100K - $250K $100K - $250K
$250K - $1M $250K - $1M
$250K - $1M, 32%
>$1M >$1M
$100K - $250K,
22%
<$100K, 83%
5
PPP | There is still limited demographic data on PPP borrowers. The SBA is working to
improve optional response rate and reaching underserved small businesses
Loans Approved Approved ($) Avg Loan Size % of Approved Dollars
LMI* Neighborhoods 418,700 $33,244,116,676 $79,398 24.90%
Rural* 481,627 $23,169,670,022 $48,107 17.36%
Race/Ethnicity % Approved Count % Approved Dollars
American Indian or Alaska Native 1.0% 0.8%
Asian 3.2% 2.4%
Black or African American 4.5% 1.6%
Eskimo & Aleut 0.0% 0.0%
Hispanic 3.6% 2.9%
Multi Group 0.0% 0.0%
Puerto Rican 0.0% 0.0%
Unanswered 73.9% 78.6%
White 13.7% 13.6%
Gender % Approved Count % Approved Dollars Veteran % Approved Count % Approved Dollars
Female 13.1% 9.7% Non-Veteran 33.2% 34.6%
Male 29.5% 35.1% Unknown/Not Stated 64.6% 63.0%
Unknown/Not Stated 57.4% 55.1% Veteran 2.2% 2.4%
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
6
PPP | Large institutions are driving the majority of PPP lending. Non-bank
lenders are reaching underserved businesses with a larger proportion of their
loans Lender Type Loans Approved Approved ($) % Total % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 413,830 $34,404,854,328 25.77% 40.51% 24.36% 7.37%
Banks and S&Ls
$10B - $50B 286,862 $22,931,991,046 17.18% 35.17% 26.71% 13.67%
Banks and S&Ls
$1B - $10B 349,725 $36,456,353,842 27.31% 30.68% 23.96% 18.20%
Banks and S&Ls < Green – Above
$1B 384,852 $23,702,611,045 17.75% 41.61% 22.16% 35.62% program average
BIDCOs 6 $161,160 0.00% 100.00% 28.40% 4.63% No color –
Credit Unions 52,119 $2,438,038,425 1.83% 55.35% 25.12% 18.56% Approximately
Farm Credit program average
Lenders 13,484 $330,065,650 0.25% 77.89% 11.91% 71.01% Yellow checkerboard
Fintechs (and – Below program
other State average
Regulated) 178,053 $5,116,257,244 3.83% 69.62% 34.31% 9.42%
Small Business
Lending
Companies 41,331 $2,183,027,378 1.64% 50.24% 27.87% 6.73%
CFI 84,648 $5,938,428,326 4.45% 40.86% 29.20% 18.62%
Program Averages (by approved $) 39.00% 24.90% 17.36%
*CDFI defined as Community Development Financial Institutions, BIDCOs defined as Business and Industrial Development Corporations 7
**Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
PPP | The current round has reached all 50 states
% of total lending against proportion of total US businesses with <500 employees
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0% AK
AL
AR
AS
AZ
CA
CO
CT
DC
DE
FL
GA
GU
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MP
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WAVI
WI
WV
WY
*Red markers detail the proportion of US Businesses with < 500 employees by state (Source: US Census, SUSB); this is data for employer businesses and doesn’t include
8
independent contractors
PPP | Accommodation and Food Services account for 18% of all lending,
driven primarily by restaurants
% of total lending against proportion of total US businesses with <500 employees
20.0%
18.0%
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
*Other includes Information, Mining, Finance & Insurance, Public Admin., Management of Companies & Enterprises, Utilities, and Unclassified Establishments Industries 9
**Red markers detail the proportion of US Businesses with < 500 employees by industry (Source: US Census, SUSB), this is data for employer businesses and doesn’t include independent contractors or farms
Paycheck Protection
Program Forgiveness
Data as of 02/18/21
Forgiveness | ~32% of loans have completed the forgiveness process,
totaling ~29% of total 2020 PPP volume
Total 2020 PPP Amount Not Applications not yet
Volume Forgiven Forgiven In Process received
Count 5.3M 1.7M - 187k 3.3M
Volume $521.2B $151.7B $0.45B $76.9B $292.1B
$20 $160
Billions Billions
$18 $140
$16
$120
$14
$12 $100
$10 $80
$8 $60
$6
$40
$4
$2 $20
$0 $0
August
8/30 9/6 9/13 9/20 9/27 10/4 11/1 11/8 12/6 1/3 1/10 1/17 1/24 1/31 2/7 2/14
10/11 10/18 10/25 11/15 11/22 11/29 12/13 12/20 12/27
Submitted (Loan Value) Forgiven Cumulative Forgiven
11
Forgiveness | Across all loan sizes, over 99% of loan value has been
forgiven on loans that have completed the forgiveness process
Forgiven Not Forgiven % Forgiven of In Process Apps Not Yet Total PPP % Sub. for
(Amt) (Amt) Processed (Amt) Received (Amt) Volume Forgiveness (Amt)
<$100K $35.6 B $0.14 B 99.6% $2.9 B $71.5 B $110.1 B 35.1%
$100K - $250K $31.0 B $0.08 B 99.7% $4.7 B $50.1 B $85.9 B 41.7%
$250 - $1M $58.5 B $0.15 B 99.7% $14.6 B $73.9 B $147.3 B 49.8%
>$1M $26.6 B $0.09 B 99.7% $54.6 B $96.5 B $177.8 B 45.7%
Total $151.7 B $0.45 B 99.7% $76.9 B $292.1 B $521.2 B 44.0%
Forgiven count by loan size Forgiven value by loan size
$250 - $1M, 8%
>$1M, 1% >$1M <$100K
$100K -
$250K, 12% 18% $100K - $250K
<$100K $250 - $1M
<$100K 39%
$250 - $1M >$1M
<$100K, $100K - $250K 20%
79%
$250 - $1M $100K -
>$1M $250K
23%
12
Forgiveness | Most types of lenders have submitted at least 1/3 of their
applications for forgiveness
Not % Sub. for
Forgiven % Forgiven of In Process Apps not yet Total PPP Forgiveness
Lender Type Forgiven (Amt) (Amt) Processed (Amt) received (Amt) Volume (Amt)
Banks and S&Ls($10B or
more) $66,445 M $231 M 99.7% $44,274 M $191,918 M $302,868 M 36.6%
Banks and S&Ls(less than
$10B) $80,007 M $204 M 99.7% $30,483 M $83,092 M $193,785 M 57.1%
BIDCOs $1 M $0 M 100.0% $0 M $0 M $1 M 93.2%
Certified Development
Companies $117 M $0 M 99.7% $30 M $254 M $402 M 36.8%
Credit Unions ($10B or
more) $295 M $1 M 99.6% $87 M $512 M $896 M 42.9%
Credit Unions (less than
$10B) $3,272 M $13 M 99.6% $1,006 M $4,160 M $8,450 M 50.8%
Farm Credit Lenders $368 M $0 M 99.9% $271 M $757 M $1,396 M 45.8%
Fintechs (and other State
Regulated) $442 M $1 M 99.8% $156 M $3,259 M $3,858 M 15.5%
Microlenders $76 M $0 M 99.8% $24 M $133 M $233 M 43.0%
Non Bank CDFI Funds $87 M $0 M 99.9% $39 M $222 M $348 M 36.2%
Small Business Lending
Companies $603 M $1 M 99.8% $552 M $7,763 M $8,919 M 13.0%
13
Economic Injury
Disaster Loans (EIDL)
Data as of 02/18/21
EIDL | Since April, EIDL has approved $199.7B in loans
Loans Approved Approved ($) Disbursements Disbursed $
3.7M $199.7B 3.5M $191.8B (96%)
15
EIDL | 78% of all loans are less than $100k, totaling 39% of loan
volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved $
>$150K, 1% >$150K, 4%
$100K - $150K, 21% <$50K
<$50K
$50K - $100K
$50K - $100K
$100K - $150K <$50K, 21% $100K - $150K
>$150K
>$150K
$50K - $50K -
$100K, 13% <$50K, 65% $100K, 18%
$100K - $150K,
57%
16
EIDL | EIDL has reached all 50 states
% of total against proportion of total US businesses with <500 employees
20.00%
18.00%
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00% AK
AL
AR
AS
AZ
CA
CO
CT
DC
DE
FL
GA
GU
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MP
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WAVI
WI
WV
WY
*Red markers detail the proportion of US Businesses with < 500 employees by state (Source: US Census, SUSB), this is data for employer businesses and doesn’t include 17
independent contractors
EIDL | Retail Trade accounts for ~15% of all lending
% of total lending
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
*Other includes Information, Mining, Finance & Insurance, Public Admin., Management of Companies & Enterprises, Utilities, and Unclassified Establishments Industries 18
Economic Injury Disaster
Loan (EIDL) Advance
COMPLETED ROUND 1 DATA
EIDL Advance | $20B in EIDL Advance has been fully exhausted and
disbursed
Applications Application ($) Approved Approved ($) Disbursements Disbursed $
8,195,968 $28B 5,781,390 $20B 5,781,390 $20B
20
EIDL Advance | 51% of Advances are $1k, totaling 15% of volume
Advance Size Breakdown by Approved Count Advance Size Breakdown by Approved $
$1-2k
$2-4k $1-2k
$4-6k $2-4k
$8-10k, 17% $4-6k
$6-8k $1-2k, 21%
$6-8k, 4% $6-8k
$8-10k
$8-10k
$4-6k, 6%
$8-10k, 50% $2-4k, 11%
$1-2k, 62%
$2-4k, 11%
$4-6k,
10%
$6-8k,
8%
21
EIDL Advance | EIDL Advance has reached all 50 states and nearly all US
territories
% of total against proportion of total US businesses with <500 employees
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00% AK
AL
AR
AS
AZ
CA
CO
CT
DC
DE
FL
GA
GU
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MP
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WAVI
WI
WV
WY
*Red markers detail the proportion of US Businesses with < 500 employees by state (Source: US Census, SUSB), this is data for employer businesses and doesn’t include 22
independent contractors
EIDL Advance | Retail Trade accounts for 13% of all advances
% of total lending
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
*Other includes Educ. Services, Mining, Finance & Insurance, Public Admin., Management of Companies & Enterprises, Utilities, and Unclassified Establishments Industries 23
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