SBA COVID Relief Program Report (2021.04.26 - SBA COVID Relief Program Report - vFINALSHARE-508)
Summary
This SBA COVID Relief Program Report has PPP data as of 04/25/21 and a headline of 5.1M loans approved for $248B volume. It lists 5,361,857 in Loan Intake for $255B and 5,145,366 Loans Approved at an Avg Loan Size of $48,293. LMI Neighborhoods are 1,494,956 loans and $66,789,522,886, or 26.9% of approved dollars. Loans of less than $250k are 97% of all loans, totaling 56% of loan volume. EIDL has approved $203B in loans since April, with $196.2B disbursed (96%).
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“SBA COVID Relief Program Report (2021.04.26 - 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-2021-04-26-sba-covid-relief-program-re-f26a172ec3/
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Paycheck Protection
Program
Data as of 04/25/21
PPP | The current round of PPP has approved 5.1M loans for $248B volume
Loan Intake* Loan Intake* ($) Loans Approved Approved ($) Avg Loan Size
5,361,857 $255B 5,145,366 $248B $48,293
$12 $300
Billions $10 $250 Billions
$8 $200
$6 $150
$4 $100
$2 $50
$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 4/12 4/19
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 $
$300 100.0%
Total Volume** ($) Total Set Aside
Billions
90.0%
$250
80.0% First Draw Loans <=10 employees $39.9B
$15B
$200
70.0% First Draw Loans LMI & < $250k $14.8B
60.0%
Second Draw Loans <=10 employees $55.8B
$150 50.0% $25B
40.0% Second Draw Loans LMI & <$250k $23.5B
$100 Community Financial Institutions $17.9B $15B
30.0%
20.0% First & Second Draw from IDIs, CUs,
$50
10.0% FCSIs < $10B * $101.8B $15B
$0 0.0%
New First Draw Borrowers $51.2B $35B
Cumulative Approved ($) % 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 $) 26.9% 16.8% 46.4%
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 97% of all loans less than $250k, totaling 56% of loan volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved ($)
$250K - $1M, 3% >$1M, 0%
$100K -
>$1M, 17%
$250K, 6%
<$100K <$100K
$100K - $250K $100K - $250K
$250K - $1M
$250K - $1M, 27% <$100K, 38% $250K - $1M
>$1M >$1M
<$100K, 91% $100K - $250K,
18%
5
PPP | The current round of PPP is successfully reaching smaller borrowers
with 96% of all loans to businesses with 20 employees or fewer, totaling 53%
of loan volume
Number of Employees Breakdown by Approved Count Number of Employees Breakdown by Approved ($)
21 - 50, 3% > 50, 1% 1, 18%
11 - 20, 6%
> 50, 26%
1 1
2 - 10, 25%
2 - 10 2 - 10
11 - 20 11 - 20
21 - 50 21 - 50
1, 65% 21 - 50, 21% 2 - 10, 20%
> 50 > 50
11 - 20, 15%
6
PPP | There is still limited demographic data on PPP borrowers.
Loans Approved Approved ($) Avg Loan Size % of Approved Dollars
LMI* Neighborhoods 1,494,956 $66,789,522,886 $44,677 26.9%
Rural* 1,232,777 $41,813,533,049 $33,918 16.8%
% Approved Count % Approved Dollars
American Indian or Alaska Native 0.9% 0.9%
Asian 2.5% 2.6%
Black or African American 10.6% 4.6%
Eskimo & Aleut 0.0% 0.0%
Multi Group 0.0% 0.0%
Native Hawaiian or Other Pacific Islander 0.1% 0.1%
Puerto Rican 0.0% 0.0%
Unanswered 70.8% 75.8%
White 15.0% 16.0%
Ethnicity % Approved Count % Approved Dollars
Hispanic or Latino 3.7% 3.1%
Not Hispanic or Latino 29.7% 29.9%
Unknown/NotStated 66.6% 67.0%
Gender % Approved Count % Approved Dollars Veteran % Approved Count % Approved Dollars
Female 16.1% 11.0% Non-Veteran 36.0% 34.8%
Male 27.3% 33.1% Unknown/NotStated 61.9% 62.9%
Unknown/NotStated 56.6% 56.0% Veteran 2.1% 2.3%
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
7
PPP | Large institutions are driving the majority of PPP lending. Non-bank
lenders are reaching underserved businesses with a larger proportion of their
loans Lender Type Loans Approved Approved ($) Avg Loan % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 888,322 $69,559,640,637 $78,305 38.7% 24.6% 7.4%
Banks and S&Ls $10B
- $50B 784,841 $42,554,480,372 $54,221 42.8% 28.2% 13.3%
Banks and S&Ls $1B -
$10B 710,330 $55,642,019,919 $78,333 34.3% 24.3% 19.3%
Banks and S&Ls < $1B 811,376 $35,605,233,618 $43,883 48.1% 22.1% 38.9%
Green – Above
BIDCOs 17 $286,691 $16,864 100.0% 22.3% 9.0% program average
No color –
Credit Unions 122,180 $4,214,222,170 $34,492 61.4% 25.1% 19.4% Approximately
program average
Farm Credit Lenders 34,509 $834,109,706 $24,171 79.1% 11.9% 71.7%
Yellow checkerboard
Fintechs (and other
State Regulated) 555,076 $11,510,079,503 $20,736 78.8% 36.6% 10.0% – Below program
Small Business average
Lending Companies 562,526 $10,536,890,283 $18,731 80.6% 38.0% 8.2%
CFI 675,013 $17,993,265,986 $26,656 69.7% 38.4% 16.7%
To Be Confirmed 1,176 $35,245,115 $29,970 54.5% 15.9% 59.6%
Program Averages (by approved $) 46.2% 26.9% 16.8%
*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 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 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 04/25/21
Forgiveness | ~55% of loans have completed the forgiveness process,
totaling ~46% of total 2020 PPP volume
Total 2020 PPP Amount Not Applications not yet
Volume Forgiven Forgiven In Process received
Count 5.2M 2.9M - 183k 2.1M
Volume $521.2B $242.1B $0.8B $84.3B $194.0B
$25 $300
Billions $20 $250 Billions
$200
$15
$150
$10
$100
$5 $50
$0 $0
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 $64.21 B $0.24 B 99.6% $3.36 B $42.39 B $110.19 B 61.5%
$100K - $250K $50.39 B $0.14 B 99.7% $3.69 B $31.69 B $85.90 B 63.1%
$250 - $1M $85.16 B $0.25 B 99.7% $10.72 B $51.13 B $147.27 B 65.3%
>$1M $42.34 B $0.16 B 99.6% $66.52 B $68.80 B $177.82 B 61.3%
Total $242.09 B $0.80 B 99.7% $84.28 B $194.01 B $521.19 B 62.8%
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
35%
<$100K $250 - $1M >$1M
<$100K, $100K - $250K 21%
81%
$250 - $1M $100K -
>$1M $250K
27%
13
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) $118,489 M $442 M 99.6% $50,927 M $132,939 M $302,797 M 56.1%
Banks and S&Ls(less than
$10B) $113,827 M $326 M 99.7% $30,585 M $49,095 M $193,832 M 74.7%
BIDCOs $1 M $0 M 100.0% $0 M $0 M $1 M 100.0%
Certified Development
Companies $233 M $1 M 99.7% $26 M $142 M $402 M 64.8%
Credit Unions ($10B or
more) $456 M $2 M 99.5% $71 M $366 M $895 M 59.1%
Credit Unions (less than
$10B) $5,032 M $19 M 99.6% $1,003 M $2,407 M $8,460 M 71.5%
Farm Credit Lenders $585 M $1 M 99.9% $341 M $493 M $1,419 M 65.3%
Fintechs (and other State
Regulated) $810 M $2 M 99.8% $147 M $2,877 M $3,836 M 25.0%
Microlenders $124 M $0 M 99.7% $22 M $86 M $233 M 63.1%
Non Bank CDFI Funds $140 M $0 M 99.9% $39 M $170 M $349 M 51.2%
Small Business Lending
Companies $2,367 M $4 M 99.8% $1,135 M $5,412 M $8,918 M 39.3%
To Be Confirmed $30 M $0 M 99.9% $1 M $13 M $44 M 70.5%
14
Economic Injury
Disaster Loans (EIDL)
Data as of 04/25/21
EIDL | Since April, EIDL has approved $203B in loans
Loans Approved Approved ($) Disbursements Disbursed $
3.78M $203.7B 3.6M $196.2B (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
20.0%
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 18
independent contractors
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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