SBA Paycheck Protection Program Data as of 05/09/21
Summary
Paycheck Protection Program data as of 05/09/21 in an SBA COVID Relief Program Report: the PPP headline reads 5.7M loans approved for $260B volume. Loan Intake is 6,135,895 for $269.9B, and Loans Approved are 5,716,350 with an Avg Loan Size of $45,487. Rural loans total 1,338,312 and $43,702,647,191 (16.8% of approved dollars). Loans of less than $250k are 97% of all loans and 57% of loan volume. On forgiveness, ~55% of loans have completed the process; EIDL has approved $205B since April.
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“SBA Paycheck Protection Program Data as of 05/09/21.”
Original at legacy.sba.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/sba-covid-relief-program-report-2021-05-10-sba-covid-relief-program-re-eb08d70676/
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Paycheck Protection
Program
Data as of 05/09/21
PPP | The current round of PPP has approved 5.7M loans for $260B volume
Loan Intake* Loan Intake* ($) Loans Approved Approved ($) Avg Loan Size
6,135,895 $269.9B 5,716,350 $260B $45,487
$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 4/26 5/3
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 $46.2B
$15B
$200
70.0% First Draw Loans LMI & < $250k $17.5B
60.0%
Second Draw Loans <=10 employees $58.6B
$150 50.0% $25B
40.0%
Second Draw Loans LMI & <$250k $24.6B
$100 Community Financial Institutions $19.6B $15B
30.0%
$50
20.0% First & Second Draw from IDIs, CUs,
10.0% FCSIs < $10B * $103.9B $15B
$0 0.0% New First Draw Borrowers $58.1B $35B
1/11 1/18 1/25 2/1 2/8 2/15 2/22 3/1 3/8 3/15 3/22 3/29 4/5 4/12 4/19 4/26 5/3
Cumulative Approved ($) % 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 $) 27.3% 16.8% 47.9%
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 $250k, totaling 57% of loan volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved ($)
$250K - $1M, 3% >$1M, 0%
$100K -
>$1M, 16%
$250K, 5%
<$100K <$100K
$100K - $250K <$100K, 39% $100K - $250K
$250K - $1M $250K - $1M, 27% $250K - $1M
>$1M >$1M
<$100K, 92% $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, 20%
11 - 20, 5%
> 50, 26%
2 - 10, 23% 1 1
2 - 10 2 - 10
11 - 20 11 - 20
21 - 50 2 - 10, 20% 21 - 50
21 - 50, 20%
1, 68% > 50 > 50
11 - 20, 14%
6
PPP | There is still limited demographic data on PPP borrowers.
Loans Approved Approved ($) Avg Loan Size % of Approved Dollars
LMI* Neighborhoods 1,716,858 $71,073,067,775 $41,397 27.3%
Rural* 1,338,312 $43,702,647,191 $32,655 16.8%
% Approved Count % Approved Dollars
American Indian or Alaska Native 0.9% 0.9%
Asian 2.4% 2.6%
Black or African American 10.5% 4.7%
Eskimo & Aleut 0.0% 0.0%
Multi Group 0.0% 0.0%
Native Hawaiian or Other Pacific Islander 0.1% 0.1%
Puerto Rican 0.0% 0.0%
Unanswered 71.8% 75.9%
White 14.3% 15.8%
Ethnicity % Approved Count % Approved Dollars
Hispanic or Latino 3.6% 3.1%
Not Hispanic or Latino 28.6% 29.5%
Unknown/NotStated 67.9% 67.4%
Gender % Approved Count % Approved Dollars Veteran % Approved Count % Approved Dollars
Female 16.1% 11.1% Non-Veteran 35.6% 34.7%
Male 26.6% 32.7% Unknown/NotStated 62.4% 63.0%
Unknown/NotStated 57.3% 56.2% Veteran 2.0% 2.3%
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
7
PPP | Large institutions are driving the majority of PPP lending. Non-bank
lenders are reaching underserved businesses with a larger proportion of their
loans Lender Type Loans Approved Approved ($) Avg Loan % <$150k % LMI** % Rural**
Banks and S&Ls >
$50B 920,658 $71,324,885,741 $77,472 38.7% 24.7% 7.4%
Banks and S&Ls $10B
- $50B 826,294 $43,622,872,903 $52,793 43.5% 28.3% 13.3%
Banks and S&Ls $1B -
$10B 738,961 $56,589,125,918 $76,579 34.6% 24.3% 19.4%
Banks and S&Ls < $1B 841,418 $36,166,350,552 $42,983 48.5% 22.1% 39.0%
Green – Above
BIDCOs 19 $298,236 $15,697 100.0% 23.8% 8.6% program average
No color –
Credit Unions 128,686 $4,342,168,470 $33,742 61.9% 25.1% 19.8% Approximately
program average
Farm Credit Lenders 35,643 $862,029,149 $24,185 78.9% 12.4% 71.4%
Yellow checkerboard
Fintechs (and other
State Regulated) 710,111 $13,697,753,801 $19,290 82.3% 37.7% 10.6% – Below program
Small Business average
Lending Companies 753,379 $13,857,964,605 $18,394 84.6% 39.5% 9.1%
CFI 761,181 $19,557,976,762 $25,694 70.8% 38.5% 17.3%
To Be Confirmed - $0 $0 0.0% 0.0% 0.0%
Program Averages (by approved $) 47.9% 27.3% 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
WA
WI
WV
WYVI
*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 05/09/21
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 3.1M - 182k 1.9M
Volume $521.2B $257.5B $0.8B $84.3B $176.8B
$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 $68.9 B $0.3 B 99.6% $3.2 B $37.8 B $110.2 B 65.7%
$100K - $250K $53.7 B $0.2 B 99.7% $3.4 B $28.6 B $85.9 B 66.7%
$250 - $1M $89.8 B $0.3 B 99.7% $10.3 B $46.9 B $147.3 B 68.2%
>$1M $45.0 B $0.2 B 99.6% $69.1 B $63.5 B $177.8 B 64.3%
Total $257.5 B $0.9 B 99.7% $86.1 B $176.8 B $521.2 B 66.1%
Forgiven count by loan size Forgiven value by loan size
$250 - $1M, 6%
$100K - >$1M <$100K
>$1M, 1%
$250K, 12% 17% <$100K $100K - $250K
27% $250 - $1M
<$100K >$1M
<$100K, $100K - $250K $100K -
$250 - $1M
81% $250K
$250 - $1M 35%
21%
>$1M
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) $128,525 M $484 M 99.6% $52,306 M $121,450 M $302,765 M 59.9%
Banks and S&Ls(less than
$10B) $118,258 M $341 M 99.7% $31,125 M $44,051 M $193,776 M 77.3%
BIDCOs $1 M $0 M 100.0% $0 M $0 M $1 M 100.0%
Certified Development
Companies $253 M $1 M 99.7% $22 M $127 M $402 M 68.5%
Credit Unions ($10B or
more) $476 M $2 M 99.5% $69 M $348 M $895 M 61.1%
Credit Unions (less than
$10B) $5,330 M $19 M 99.6% $981 M $2,158 M $8,488 M 74.6%
Farm Credit Lenders $636 M $1 M 99.9% $356 M $427 M $1,420 M 69.9%
Fintechs (and other State
Regulated) $1,002 M $3 M 99.7% $170 M $2,660 M $3,835 M 30.6%
Microlenders $130 M $1 M 99.5% $19 M $83 M $233 M 64.3%
Non Bank CDFI Funds $169 M $0 M 99.8% $42 M $138 M $349 M 60.6%
Small Business Lending
Companies $2,651 M $5 M 99.8% $1,210 M $5,098 M $8,964 M 43.1%
To Be Confirmed $30 M $0 M 99.9% $0 M $14 M $44 M 68.6%
14
Economic Injury
Disaster Loans (EIDL)
Data as of 05/09/21
EIDL | Since April, EIDL has approved $205B in loans
Loans Approved Approved ($) Disbursements Disbursed $
3.78M $204.6B 3.6M $197.8B (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, 5%
$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,
56%
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
WA
WI
WV
WYVI
*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
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
WA
WI
WV
WYVI
*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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