SBA Paycheck Protection Program Data as of 03/04/21
Summary
A REVISED SBA COVID Relief Program Report with Paycheck Protection Program data as of 03/04/21. It lists Loan Intake of 2,479,308 and $176.2B and 2,330,958 Loans Approved for $162.0B, an Avg Loan Size of $69,510. LMI Neighborhoods account for 559,443 loans and $40,760,961,827 (25.2% of approved dollars). A PPP page reports 94% of all loans less than $250k, totaling 52% of loan volume. On forgiveness, ~36% of loans have completed the process, totaling ~32% of total 2020 PPP volume; EIDL has approved $200B since April.
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“SBA Paycheck Protection Program Data as of 03/04/21.”
Original at legacy.sba.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/sba-covid-relief-program-report-2021-03-05-sba-covid-relief-program-re-1874aec20a/
, SHA-256 e12b020d98affbd80093d4d324d03440112c0a2d06094a49457823ae3a737127.Full text
Paycheck Protection
Program
Data as of 03/04/21
PPP | The current round of PPP is pacing steadily
Loan Intake* Loan Intake* ($) Loans Approved Approved ($) Avg Loan Size
2,479,308 $176.2B 2,330,958 $162.0B $69,510
$14 $180
Billions Billions
$160
$12
All lenders
permitted
$140
$10
$120
$8 $100
Lenders <$1B
$6 allowed to lend
$80
$60
$4
$40
$2
$20
$0 $0
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 2/20 2/22 2/24 2/26 2/28 3/2 3/4
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 $
$180 100.0%
Total Volume** ($) Total Set Aside
Billions
$160 90.0%
80.0%
First Draw Loans <=10 employees $11.8B
$140 $15B
70.0% First Draw Loans LMI & < $250k $3.7B
$120
60.0% Second Draw Loans <=10 employees $38.5B
$100 $25B
50.0%
$80 Second Draw Loans LMI & <$250k $16.7B
40.0%
$60
30.0% Community Financial Institutions $7.1B $15B
$40 20.0% First & Second Draw from IDIs, CUs,
$20 10.0%
FCSIs < $10B * $77.1B $15B
$0 0.0% New First Draw Borrowers $16.7B $35B
1/11 1/18 1/25 2/1 2/8 2/15 2/22 3/1
Cumulative Approved ($) % LMI % Rural % <$150k *Insured Depository Institutions, Credit Unions, and Farm Credit System Institutions
**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 $) 25.2% 17.1% 40.2%
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 $250k, totaling 52% of loan volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved ($)
$250K - $1M, 5% >$1M, 1%
$100K -
$250K, 10% >$1M, 17%
<$100K <$100K
<$100K, 30%
$100K - $250K $100K - $250K
$250K - $1M $250K - $1M, 31% $250K - $1M
>$1M >$1M
$100K - $250K,
22%
<$100K, 84%
5
PPP | The current round of PPP is successfully reaching smaller borrowers
with 92% of all loans to businesses with 20 employees or fewer, totaling 48%
of loan volume
Number of Employees Breakdown by Approved Count Number of Employees Breakdown by Approved ($)
21 - 50, 6% > 50, 2% 1, 8%
11 - 20, 9%
> 50, 28%
1 1
2 - 10 2 - 10
1, 45% 2 - 10, 23%
11 - 20 11 - 20
21 - 50 21 - 50
2 - 10, 38% > 50 > 50
11 - 20, 17%
21 - 50, 24%
6
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 559,443 $40,760,961,827 $72,860 25.2%
Rural* 602,791 $27,631,886,210 $45,840 17.1%
% Approved Count % Approved Dollars
American Indian or Alaska Native 1.15% 0.95%
Asian 3.23% 2.57%
Black or African American 5.46% 2.08%
Eskimo & Aleut 0.00% 0.00%
Multi Group 0.00% 0.00%
Native Hawaiian or Other Pacific Islander 0.09% 0.07%
Puerto Rican 0.00% 0.00%
Unanswered 74.46% 78.90%
White 15.61% 15.43%
Ethnicity % Approved Count % Approved Dollars
Hispanic or Latino 3.59% 2.80%
Not Hispanic or Latino 29.04% 30.17%
Unknown/NotStated 67.37% 67.03%
Gender % Approved Count % Approved Dollars Veteran % Approved Count % Approved Dollars
Female 13.18% 9.74% Non-Veteran 32.99% 34.33%
Male 28.86% 34.65% Unknown/Not Stated 64.89% 63.35%
Unknown/NotStated 57.96% 55.62% Veteran 2.12% 2.33%
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
7
PPP | Large institutions are driving the majority of PPP lending. Non-bank
lenders are reaching underserved businesses with a larger proportion of their
loans Lender Type Loans Approved Approved ($) % Total % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 547,626 $43,964,287,308 27.13% 41.19% 24.33% 7.47%
Banks and S&Ls
$10B - $50B 387,827 $28,341,870,524 17.49% 37.01% 27.08% 13.54%
Banks and S&Ls $1B
- $10B 426,379 $42,681,385,002 26.34% 31.22% 24.12% 18.23%
Banks and S&Ls <
$1B 458,418 $26,879,516,854 16.59% 42.59% 22.20% 35.87% Green – Above
program average
BIDCOs 7 $225,138 0.00% 100.00% 20.33% 3.31% No color –
Approximately
Credit Unions 65,109 $2,899,311,524 1.79% 56.29% 24.99% 18.04% program average
Yellow checkerboard
Farm Credit Lenders 19,977 $499,456,765 0.31% 77.17% 10.32% 70.46%
– Below program
Fintechs (and other
average
State Regulated) 258,859 $6,854,881,229 4.23% 72.38% 35.64% 9.35%
Small Business
Lending Companies 58,925 $2,785,282,953 1.72% 52.12% 29.12% 7.14%
CFI 107,813 $7,117,654,124 4.39% 42.10% 29.43% 19.34%
To Be Confirmed 18 $295,693 0.00% 100.00% 40.58% 24.16%
Program Averages (by approved $) 40.2% 25.2% 17.1%
*CDFI defined as Community Development Financial Institutions, BIDCOs defined as Business and Industrial Development Corporations 8
**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
9
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 10
**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 03/04/21
Forgiveness | ~36% of loans have completed the forgiveness process,
totaling ~32% of total 2020 PPP volume
Total 2020 PPP Amount Not Applications not yet
Volume Forgiven Forgiven In Process received
Count 5.2M 1.9M - 250k 3.0M
Volume $521.2B $168.6B $0.5B $87.1B $265.0B
$20 $180
Billions Billions
$18 $160
$16 $140
$14 $120
$12
$100
$10
$80
$8
$6 $60
$4 $40
$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 2/21 2/28
10/11 10/18 10/25 11/15 11/22 11/29 12/13 12/20 12/27
Submitted (Loan Value) Forgiven Cumulative Forgiven
12
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 $40.7 B $0.2 B 99.6% $4.2 B $65.1 B $110.2 B 40.9%
$100K - $250K $34.5 B $0.1 B 99.7% $5.7 B $45.6 B $85.9 B 46.9%
$250 - $1M $64.1 B $0.2 B 99.7% $16.3 B $66.8 B $147.3 B 54.7%
>$1M $29.3 B $0.1 B 99.7% $61.0 B $87.4 B $177.9 B 50.8%
Total $168.6 B $0.5 B 99.7% $87.1 B $265.0 B $521.2 B 49.2%
Forgiven count by loan size Forgiven value by loan size
$250 - $1M, 7%
>$1M, 1% >$1M <$100K
$100K -
$250K, 12% 17% $100K - $250K
<$100K $250 - $1M
<$100K 38%
$250 - $1M >$1M
<$100K, $100K - $250K 21%
80%
$250 - $1M $100K -
>$1M $250K
24%
13
Forgiveness | Most types of lenders have submitted nearly ½ 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) $75,272 M $263 M 99.7% $50,180 M $177,141 M $302,856 M 41.5%
Banks and S&Ls(less than
$10B) $87,149 M $224 M 99.7% $34,299 M $72,156 M $193,828 M 62.8%
BIDCOs $1 M $0 M 100.0% $0 M $0 M $1 M 100.0%
Certified Development
Companies $141 M $0 M 99.7% $27 M $234 M $402 M 41.9%
Credit Unions ($10B or
more) $328 M $2 M 99.5% $90 M $476 M $895 M 46.8%
Credit Unions (less than
$10B) $3,628 M $14 M 99.6% $1,172 M $3,640 M $8,455 M 56.9%
Farm Credit Lenders $404 M $0 M 99.9% $302 M $702 M $1,408 M 50.1%
Fintechs (and other State
Regulated) $625 M $2 M 99.8% $161 M $3,072 M $3,859 M 20.4%
Microlenders $84 M $0 M 99.7% $30 M $119 M $233 M 48.9%
Non Bank CDFI Funds $95 M $0 M 99.9% $46 M $208 M $349 M 40.4%
Small Business Lending
Companies $914 M $2 M 99.8% $809 M $7,194 M $8,918 M 19.3%
To Be Confirmed $0 M $0 M 100.0% $0 M $10 M $10 M 0.6%
14
Economic Injury
Disaster Loans (EIDL)
Data as of 03/04/21
EIDL | Since April, EIDL has approved $200B in loans
Loans Approved Approved ($) Disbursements Disbursed $
3.7M $200.2B 3.5M $192.5B (96%)
16
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%
17
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 18
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 19
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
21
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%
22
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 23
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 24
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