SBA COVID Relief Program Report (2021.04.09 - SBA COVID Relief Program Report - vFINALSHARE-508)
Summary
An SBA report with Paycheck Protection Program data as of 04/08/21, whose PPP page says the current round has approved 4.2M loans for $229B volume. The table lists 4,417,873 in Loan Intake for $236.5B and 4,239,062 Loans Approved at an Avg Loan Size of $53,959. Rural loans are 1,062,036 and $38,650,430,057 (16.9%). Loans of less than $250k are 96% of all loans, totaling 54% of loan volume. The forgiveness page reports ~52% of loans completed, ~44% of total 2020 PPP volume; EIDL has approved $202B since April.
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“SBA COVID Relief Program Report (2021.04.09 - 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-2021-04-09-sba-covid-relief-program-re-76ff3de07f/
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Paycheck Protection
Program
Data as of 04/08/21
PPP | The current round of PPP has approved 4.2M loans for $229B volume
Loan Intake* Loan Intake* ($) Loans Approved Approved ($) Avg Loan Size
4,417,873 $236.5B 4,239,062 $228.7 $53,959
$12 $250
Billions $10 Billions
$200
$8
$150
$6
$100
$4
$50
$2
$0 $0
1/11 1/18 1/25 2/1 2/8 2/15 2/22 3/1 3/8 3/15 3/22 3/29 4/5
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 $
$250 100.0%
Total Volume** ($) Total Set Aside
Billions
90.0%
First Draw Loans <=10 employees $30.4B
$200 80.0% $15B
70.0% First Draw Loans LMI & < $250k $10.8B
$150 60.0% Second Draw Loans <=10 employees $51.6B
50.0%
$25B
Second Draw Loans LMI & <$250k $21.9B
$100 40.0%
30.0%
Community Financial Institutions $14.9B $15B
$50 20.0% First & Second Draw from IDIs, CUs,
FCSIs < $10B * $97.4B $15B
10.0%
$0 0.0% New First Draw Borrowers $39.9B $35B
1/11 1/18 1/25 2/1 2/8 2/15 2/22 3/1 3/8 3/15 3/22 3/29 4/5
Cumulative Approved ($) % 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 $) 26.2% 16.9% 44.1%
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 96% of all loans less than $250k, totaling 54% of loan volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved ($)
$250K - $1M, 3% >$1M, 1%
$100K -
$250K, 7%
>$1M, 17%
<$100K <$100K
$100K - $250K <$100K, 35% $100K - $250K
$250K - $1M, 29%
$250K - $1M $250K - $1M
>$1M >$1M
$100K - $250K,
<$100K, 89% 19%
5
PPP | The current round of PPP is successfully reaching smaller borrowers
with 94% of all loans to businesses with 20 employees or fewer, totaling 51%
of loan volume
Number of Employees Breakdown by Approved Count Number of Employees Breakdown by Approved ($)
21 - 50, 4% > 50, 2% 1, 14%
11 - 20, 7%
> 50, 27%
1 1
2 - 10 2 - 10
2 - 10, 28% 11 - 20 2 - 10, 21% 11 - 20
1, 59% 21 - 50 21 - 50
> 50 21 - 50, 22% > 50
11 - 20, 16%
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 1,157,797 $59,900,983,935 $51,737 26.2%
Rural* 1,062,036 $38,650,430,057 $36,393 16.9%
% Approved Count % Approved Dollars
American Indian or Alaska Native 1.0% 1.0%
Asian 2.8% 2.6%
Black or African American 9.9% 4.0%
Eskimo & Aleut 0.0% 0.0%
Multi Group 0.0% 0.0%
Native Hawaiian or Other Pacific Islander 0.1% 0.1%
Puerto Rican 0.0% 0.0%
Unanswered 70.0% 76.1%
White 16.1% 16.3%
Ethnicity % Approved Count % Approved Dollars
Hispanic or Latino 3.8% 3.1%
Not Hispanic or Latino 31.0% 30.3%
Unknown/NotStated 65.2% 66.7%
Gender % Approved Count % Approved Dollars Veteran % Approved Count % Approved Dollars
Female 15.8% 10.6% Non-Veteran 36.1% 34.8%
Male 28.3% 33.7% Unknown/NotStated 61.8% 62.9%
Unknown/NotStated 55.9% 55.7% Veteran 2.1% 2.3%
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
7
PPP | Large institutions are driving the majority of PPP lending. Non-bank
lenders are reaching underserved businesses with a larger proportion of their
loans Lender Type Loans Approved Approved ($) Avg Loan % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 830,202 $65,856,704,097 $79,326 38.8% 24.6% 7.4%
Banks and S&Ls $10B
- $50B 671,449 $39,515,896,987 $58,852 40.8% 27.8% 13.3%
Banks and S&Ls $1B -
$10B 651,020 $53,481,546,779 $82,150 33.7% 24.3% 19.1%
Banks and S&Ls < $1B 735,816 $33,987,792,414 $46,191 47.0% 22.1% 38.1%
Green – Above
BIDCOs 14 $275,062 $19,647 100.0% 22.3% 9.3% program average
No color –
Credit Unions 109,845 $3,959,804,682 $36,049 60.5% 24.9% 19.3% Approximately
program average
Farm Credit Lenders 31,918 $780,246,764 $24,445 78.3% 11.6% 71.5%
Yellow checkerboard
Fintechs (and other
State Regulated) 405,996 $9,794,443,361 $24,124 75.3% 35.4% 9.8% – Below program
Small Business average
Lending Companies 306,965 $6,466,745,120 $21,067 71.1% 34.2% 7.5%
CFI 494,860 $14,861,640,350 $30,032 64.8% 37.0% 17.3%
To Be Confirmed 977 $30,903,631 $31,631 53.6% 15.1% 62.0%
Program Averages (by approved $) 44.1% 26.2% 16.9%
*CDFI defined as Community Development Financial Institutions, BIDCOs defined as Business and Industrial Development Corporations 8
**Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
PPP | CFI lender type breakdown
Lender Type Loans Approved Approved ($) Avg Loan Size % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 19,491 $1,330,985,988 $68,287 33.6% 27.1% 36.6%
Banks and S&Ls $10B
- $50B 10,821 $762,786,748 $70,491 39.2% 35.5% 21.4%
Banks and S&Ls $1B -
$10B 38,037 $2,736,689,520 $71,948 40.6% 30.0% 15.6%
Banks and S&Ls < $1B 47,756 $2,389,108,685 $50,027 46.0% 29.5% 28.1%
Certified Green – Above
Development program average
Companies 5,359 $242,306,580 $45,215 64.0% 30.5% 7.1% No color –
Approximately
Credit Unions 25,150 $917,217,991 $36,470 58.4% 29.5% 17.8% program average
Fintechs (and other Yellow checkerboard
State Regulated) 319,616 $5,731,826,589 $17,933 96.0% 47.7% 10.2% – Below program
average
Microlenders 10,447 $242,057,700 $23,170 77.4% 35.8% 12.7%
Non Bank CDFI Funds 15,357 $287,734,440 $18,736 80.7% 32.7% 9.1%
Small Business
Lending Companies 2,826 $220,926,109 $78,176 31.7% 37.0% 3.2%
Program Averages (by approved $) 44.1% 26.2% 16.9%
*CDFI defined as Community Development Financial Institutions, BIDCOs defined as Business and Industrial Development Corporations 9
**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
10
independent contractors
PPP | Accommodation and Food Services account for 17% of all lending,
driven primarily by restaurants
% of total lending against proportion of total US businesses with <500 employees
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 11
**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 04/08/21
Forgiveness | ~52% of loans have completed the forgiveness process,
totaling ~44% of total 2020 PPP volume
Total 2020 PPP Amount Not Applications not yet
Volume Forgiven Forgiven In Process received
Count 5.2M 2.7M - 195k 2.3M
Volume $521.2B $227.6B $0.7B $80.8B $212.1B
$25 $250
Billions $20 $200 Billions
$15 $150
$10 $100
$5 $50
$0 August $0
8/30
9/6
9/13
9/20
9/27
10/4
10/11
10/18
10/25
11/1
11/8
11/15
11/22
11/29
12/6
12/13
12/20
12/27
1/3
1/10
1/17
1/24
1/31
2/7
2/14
2/21
2/28
3/7
3/14
3/21
3/28
4/4
Submitted (Loan Value) Forgiven Cumulative Forgiven
13
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 $59.4 B $0.2 B 99.6% $3.8 B $46.8 B $110.2 B 57.5%
$100K - $250K $47.2 B $0.1 B 99.7% $3.6 B $34.9 B $85.9 B 59.4%
$250 - $1M $81.1 B $0.2 B 99.7% $10.1 B $55.8 B $147.3 B 62.1%
>$1M $39.8 B $0.1 B 99.6% $63.3 B $74.5 B $177.8 B 58.1%
Total $227.6 B $0.7 B 99.7% $80.8 B $212.0 B $521.2 B 59.3%
Forgiven count by loan size Forgiven value by loan size
$250 - $1M, 6%
$100K - >$1M, 1% >$1M <$100K
$250K, 12% 17% $100K - $250K
<$100K
$250 - $1M
36%
<$100K $250 - $1M >$1M
<$100K, $100K - $250K 21%
81%
$250 - $1M $100K -
>$1M $250K
26%
14
Forgiveness | Most types of lenders have submitted over 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) $109,656 M $406 M 99.6% $47,784 M $144,978 M $302,824 M 52.1%
Banks and S&Ls(less than
$10B) $108,987 M $305 M 99.7% $30,337 M $54,196 M $193,826 M 72.0%
BIDCOs $1 M $0 M 100.0% $0 M $0 M $1 M 100.0%
Certified Development
Companies $210 M $1 M 99.7% $30 M $162 M $402 M 59.7%
Credit Unions ($10B or
more) $427 M $2 M 99.5% $78 M $388 M $895 M 56.6%
Credit Unions (less than
$10B) $4,717 M $18 M 99.6% $1,007 M $2,717 M $8,459 M 67.9%
Farm Credit Lenders $525 M $0 M 99.9% $341 M $553 M $1,419 M 61.1%
Fintechs (and other State
Regulated) $762 M $2 M 99.8% $138 M $2,934 M $3,836 M 23.5%
Microlenders $114 M $0 M 99.7% $27 M $91 M $233 M 60.9%
Non Bank CDFI Funds $129 M $0 M 99.9% $38 M $181 M $349 M 48.0%
Small Business Lending
Companies $2,032 M $3 M 99.8% $1,057 M $5,827 M $8,918 M 34.7%
To Be Confirmed $29 M $0 M 99.9% $1 M $14 M $44 M 68.0%
15
Economic Injury
Disaster Loans (EIDL)
Data as of 04/08/21
EIDL | Since April, EIDL has approved $202B in loans
Loans Approved Approved ($) Disbursements Disbursed $
3.77M $202.3B 3.6M $194.6B (96%)
17
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%
18
EIDL | EIDL has reached all 50 states
% of total 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% 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 19
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 20
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
22
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%
23
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 24
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 25
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