SBA COVID Relief Program Report (SBA COVID Relief Program Report-02-09-21-508)
Summary
An SBA COVID Relief Program Report whose Paycheck Protection Program section is marked data as of 02/03/21. It shows 1,239,624 in Loan Intake for $106.8B and 1,049,897 Loans Approved for $83.6B, an Avg Loan Size of $79,655. LMI Neighborhoods are 225,631 loans and $20,447,415,272, or 24.4% of approved dollars. A PPP page says 93% of all loans are less than $250k, totaling 49% of loan volume. The forgiveness page reports ~29% of loans, and the EIDL page reports $198.9B approved and $190.9B disbursed (96%).
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Cite this document
“SBA COVID Relief Program Report (SBA COVID Relief Program Report-02-09-21-508).”
Original at legacy.sba.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/sba-covid-relief-program-report-sba-covid-relief-program-report-02-09-9c990a498c/
, SHA-256 d195615073c24d4ce3c519f1b04b15bed3ae2e133ee420436ab76b9a4dabaf83.Full text
Paycheck Protection
Program
Data as of 02/03/21
PPP | The current round of PPP is pacing steadily
Loans Avg Loan
Loan Intake* Loan Intake* ($) Approved Approved ($) Size
1,239,624 $106.8B 1,049,897 $83.6B $79,655
$14 $90
Billions Billions
$12 All lenders
$80
permitted $70
$10
$60
$8 $50
Lenders <$1B
$6 allowed to lend $40
$30
$4
$20
$2 $10
$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
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 $
$90 100%
Total Volume** ($) Total Set Aside
Billions
$80 90%
$70 80% First Draw Loans <=10 employees $4.2B
$15B
$60 70%
First Draw Loans LMI & < $250k $0.9B
60%
$50
50% Second Draw Loans <=10 employees $19.5B
$40 $25B
40%
$30 Second Draw Loans LMI & <$250k $8.6B
30%
$20 20% Community Financial Institutions $3.8B $15B
$10 10% First & Second Draw from IDIs, CUs,
$0 0% FCSIs < $10B * $46.2B $15B
1/11 1/13 1/15 1/17 1/19 1/21 1/23 1/25 1/27 1/29 1/31 2/2
New First Draw Borrowers $5.9B $35B
Cumulative Approved ($) % LMI *Insured Depository Institutions, Credit Unions, and Farm Credit System Institutions
% 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 $) 24.4% 18.5% 37.8%
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 93% of all loans less than $250k, totaling 49% of loan volume
Loan Size Breakdown by Approved Count Loan Size Breakdown by Approved ($)
$250K - $1M, 6% >$1M, 1%
$100K - >$1M, 18%
$250K, 11%
<$100K <$100K, 27% <$100K
$100K - $250K $100K - $250K
$250K - $1M $250K - $1M
>$1M
$250K - $1M, 33% >$1M
$100K - $250K,
<$100K, 82% 22%
5
PPP | There is still limited demographic data on PPP borrowers. The SBA is working to
improve optional response rate and reaching underserved small businesses
Loans Approved Approved ($) Avg Loan Size % of Approved Dollars
LMI* Neighborhoods 225,631 $20,447,415,272 $90,623 24.4%
Rural* 302,746 $15,435,160,748 $50,984 18.5%
Race/Ethnicity (as of 1/31) % Approved Count % Approved Dollars
American Indian or Alaska Native 1.3% 1.0%
Asian 2.6% 1.8%
Black or African American 2.3% 0.8%
Eskimo & Aleut 0.0% 0.0%
Hispanic 3.1% 2.5%
Multi Group 0.0% 0.0%
Puerto Rican 0.0% 0.0%
Unanswered 78.5% 83.2%
White 12.2% 10.7%
Gender (as of 1/31) % Approved Count % Approved Dollars Veteran (as of 1/31) % Approved Count % Approved Dollars
Female 2.6% 0.6% Non-Veteran 6.6% 1.7%
Male 5.9% 1.6% Unknown/Not Stated 92.9% 98.2%
Unknown/Not Stated 91.5% 97.8% Veteran 0.5% 0.1%
*Rural defined as loans to borrowers located in counties where the population is >30% rural, LMI defined using CRA definition
6
PPP | Large institutions are driving the majority of PPP lending. Non-bank
lenders are reaching underserved businesses with a larger proportion of their
loans Lender Type Loans Approved Approved ($) % Total % <$150k % LMI** % Rural**
Banks and
S&Ls(<$10B) 513,991 $44,159,204,064 52.8% 34.7% 23.5% 25.2%
Banks and
S&Ls(>=$10B) 382,417 $33,418,935,682 40.0% 38.4% 25.2% 10.4%
Credit Unions (<$10B) 38,160 $1,968,916,390 2.4% 52.5% 25.9% 19.4%
Fintechs (& other
State Regulated) 76,949 $2,224,489,854 2.7% 61.7% 28.4% 10.3% Green – Above program
Small Business average
Lending Companies 23,331 $1,385,103,696 1.7% 49.6% 27.9% 6.3% No color – Approximately
Credit Unions program average
(>=$10B) 2,897 $116,852,527 0.1% 65.1% 25.2% 7.3%
Yellow checkerboard –
Microlenders 2,973 $82,982,277 0.1% 76.2% 29.8% 14.9% Below program average
Farm Credit Lenders 6,601 $167,290,841 0.2% 76.8% 13.3% 70.6%
Non-Bank CDFI*
Funds 1,581 $48,957,218 0.1% 78.9% 31.2% 8.1%
Certified
Development
Companies 992 $57,269,138 0.1% 59.5% 34.0% 9.3%
BIDCOs* 5 $115,387 0.0% 100.0% 0.0% 6.5%
Program Averages (by approved $) 37.8% 24.4% 18.5%
*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 02/04/21
Forgiveness | ~29% of loans have completed the forgiveness process,
totaling ~25% of total 2020 PPP volume
Total 2020 PPP Amount Not Under Applications not yet
Volume Forgiven Forgiven Review received
Count 5.1M 1.5M - 202k 3.5M
Volume $521.3B $132.6B $0.26B $74.3B $314.0B
$18 $140
Billions Billions
$16 $120
$14
$100
$12
$10 $80
$8 $60
$6
$40
$4
$2 $20
$0 $0
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 Review Apps Not Yet Total PPP % Sub. for
(Amt) (Amt) Processed (Amt) Received (Amt) Volume Forgiveness (Amt)
<$100K $30,959 M $64 M 99.8% $3,147 M $75,953 M $110,123 M 31.0%
$100K - $250K $26,875 M $44 M 99.8% $5,274 M $53,753 M $85,946 M 37.5%
$250 - $1M $51,589 M $96 M 99.8% $15,461 M $80,185 M $147,331 M 45.6%
>$1M $23,226 M $56 M 99.8% $50,465 M $104,146 M $177,892 M 41.5%
Total $132,649 M $260 M 99.8% $74,346 M $314,037 M $521,292 M 39.8%
Forgiven count by loan size Forgiven value by loan size
$250 - $1M, 8%
>$1M, 1% >$1M <$100K
$100K - <$100K
$250K, 12% 18% $100K - $250K
23%
$250 - $1M
<$100K >$1M
<$100K, $100K - $250K $100K -
79% $250 - $1M $250K
$250 - $1M
39% 20%
>$1M
12
Forgiveness | Most types of lenders have submitted at least 1/3 of their
applications for forgiveness
Forgiven Not Forgiven % Forgiven of In Review Apps not yet Total PPP % Sub. for
Lender Type (Amt) (Amt) Processed (Amt) received (Amt) Volume Forgiveness (Amt)
Banks and S&Ls(less
than $10B) $71,047M $125M 99.8% $30,946M $91,654M $193,772M 52.7%
Banks and S&Ls($10B
or more) $57,056M $126M 99.8% $41,361M $204,484M $303,027M 32.5%
Credit Unions (less
than $10B) $2,828M $8M 99.7% $1,059M $4,558M $8,453M 46.1%
Fintechs (and other
State Regulated) $400M $0M 99.9% $130M $3,323M $3,853M 13.8%
Small Business
Lending Companies $501M $1M 99.9% $415M $8,002M $8,920M 10.3%
To Be Confirmed $0M $0M 100.0% $0M $10M $10M 0.6%
Credit Unions ($10B or
more) $258M $0M 99.9% $91M $546M $895M 39.1%
Microlenders $64M $0M 100.0% $28M $141M $233M 39.5%
Farm Credit Lenders $334M $0M 100.0% $244M $802M $1,380M 41.9%
Non Bank CDFI Funds $70M $0M 99.9% $43M $234M $348M 32.7%
Certified Development
Companies $89M $0M 99.7% $29M $283M $401M 29.5%
BIDCOs $0M $0M 100.0% $0M $0M $1M 60.1% 13
Economic Injury
Disaster Loans (EIDL)
Data as of 02/02/21
EIDL | Since April, EIDL has approved $198.9B in loans
Loans Approved Approved ($) Disbursements Disbursed $
3.7M $198.9B 3.5M $190.9B (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 $
$100K - $150K, 21% >$150K, 1% >$150K, 4%
<$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
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
*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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