Paycheck Protection Program (PPP) Report: Approvals through 05/23/2021

Summary

SBA's Paycheck Protection Program report of approvals through 05/23/2021. All PPP lending to that date totals 11,618,144 loans and $795,908,415,697 from 5,469 lenders, and 2021 lending accounts for 6,476,297 loans and $273,729,926,815 from 5,244 lenders. The 2021 total splits into 3,604,758 First Draw loans worth $66,063,530,813 and 2,871,539 Second Draw loans averaging $72,319. Loans of $50K and under make up 86.8% of 2021 loans but 32.0% of the dollars, and the overall average loan size is $42K. Accommodation and Food Services is the largest industry at 15% of the amount, and JPMorgan Chase Bank heads the top-lender list with 158,216 loans; Capital Plus Financial, third on it, made 476,810.

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Paycheck Protection
Program (PPP) Report

Approvals through 05/23/2021
Summary of All PPP Approved Lending

Loans Approved Total Net Dollars Total Lender Count

11,618,144 $795,908,415,697 5,469

Summary of 2021 PPP Approved Lending

Loans Approved Net Dollars Lender Count

6,476,297 $273,729,926,815 5,244

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Loan Breakdown for 2021 PPP

First Draw Loans Loans Approved Net Dollars Average Loan Size Lender Count
Total First Draw Loans 3,604,758 $66,063,530,813 $18,327 5,170
First Draw Loans with 10 or fewer employees 3,561,220 $53,449,742,891 $15,009 5,157
First Draw Loans LMI & Less than $250k 1,268,858 $20,658, 780,002 $16,281 4,638
Second Draw Loans Loans Approved Net Dollars Average Loan Size Lender Count
Total Second Draw Loans 2,871,539 S207,666,396,002 $72,319 5,217
Second Draw Loans with 10 or fewer employees 2,354,943 S$63,030,057,319 $26,765 5,200
Second Draw Loans LMI & Less than $250k 718,069 $26,494,116,068 $36,896 4,730
First & Second Draw Loans Loans Approved Net Dollars Average Loan Size Lender Count
Total First & Second Draw Loans 6,476,297 $273,729,926,815 $42,266 5,244
PPP Loans by Community Financial Institutions 1,389,287 $30,082,078,865 $21,653 500
PPP Loans by Insured Depository Institutions 1,787,262 6100,891,797,574 656,450 4,108
<S10B in Assets
PPP Loans by Credit Unions <$10B in Assets 149,879 S5,097,710,145 $34,012 851
PPP Loans by Farm Credit System Institutions 19,568 6406,388,298 620,768 1

<S10B in Assets

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Lender Types for 2021 PPP

Lender Type Lender Count Loans Approved Net Dollars
Banks and S&Ls($10B or more) 112 1,805,704 $118,193,729,148
Banks and S&Ls(less than $10B) 4,108 1,787,262 $100,891,797,574
Fintechs (and other State Regulated) 41 1,218,562 $22,136,054,063
Small Business Lending Companies 13 827,885 $15,551,139,606
Microlenders 34 445,325 S7,033,740,762
Credit Unions (less than $10B) 851 149,879 $5,097,710,145
Non Bank CDFI Funds 9 175,295 $3,137,413,659
Farm Credit Lenders 47 35,909 $867,529,045
Credit Unions (S10B or more) 8 14,869 S$436,659,438
Certified Development Companies 18 15,358 $380,094,409
To Be Confirmed 2 230 $3,760,731
BIDCOs 1 19 $298,236
Total 5,244 6,476,297 $273,729,926,815

Approvals through 05/23/2021 4 J
Loan Size for 2021 PPP

Loan Size Loan Count Net Dollars % of Count | % of Amount
$50K and Under 5,619,142 $87,514,919,878 86.8% 32.0%
>$50K - $100K 370,318 $26,406,563,473 5.7% 9.6%
>$100K - $150K 181,103 $22,508,110,550 2.8% 8.2%
>$150K - $350K 186,274 $42,154,409,122 2.9% 15.4%
>$350K - $1M 92,851 $51 844,238,711 1.4% 18.9%
>$1M - $2M 25,861 $39,298,112,713 0.4% 14.4%
>$2M - $5M 421 $1,335,821 ,083 0.0% 0.5%
>$5M 327 $2,667,751,284 0.0% 1.0%

* Overall average loan size is: $42K.

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Top PPP Lenders for 2021 PPP

Lender Name

Loans Approved

Net Dollars

Average Loan Size

JPMorgan Chase Bank 158,216 $12,158,481 ,488 $76,847
Bank of America 147,546 $8,934,216,316 $60,552
Capital Plus Financial, LLC 476,810 $7,718,198,997 $16,187
Harvest Small Business Finance, LLC 429,232 $7,437 ,713,223 $17,328
Cross River Bank 288,968 $6,585,458,857 $22,790
Prestamos CDFI, LLC 418,491 $6,434 ,458,447 $15,375
ltria Ventures LLC 181,396 $5,049,807 ,356 $27,839
Benworth Capital 335,516 $4,634,173,705 $13,812
Customers Bank 221,166 $4,541 ,000,129 $20,532
PNC Bank 45,448 $4,323,523,168 $95,131
Fountainhead SBF LLC 290,117 $4,123,051,195 $14,212
TD Bank 47,366 $3,704,460,124 $78,209
Truist Bank 37,796 $3,633,668, 159 $96,139
Wells Fargo Bank 87,799 $3,495,914,988 $39,817
U.S. Bank 66,792 $3,222,374,979 $48,245

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Industry for 2021 PPP

NAICS Sector Description Loan Count Net Dollars % of Amount
Accommodation and Food Services 450,076 $41,163,073,504 15%
Construction 543,602 $33, 128,712,098 12%
Health Care and Social Assistance 470,565 $28,470,084,875 10%
Professional, Scientific, and Technical Services 642,067 $28,261 ,548,558 10%
Other Services (except Public Administration) 1,062,925 $26,558,531 ,666 10%
Manufacturing 214,715 $21,998,957,121 8%
Transportation and Warehousing 730,897 $15,273,829,996 6%
Retail Trade 452,425 $14,966,313,917 5%
Administrative and Support and Waste Management and Remediation Services 376,889 $12,645,366,976 5%
Wholesale Trade 180,608 $10,250,375,072 4%
Agriculture, Forestry, Fishing and Hunting 530,340 $9,978,928,316 4%
Arts, Entertainment, and Recreation 216,997 $7,335,389,770 3%
Real Estate and Rental and Leasing 255,894 $7,210,776,162 3%
Educational Services 99,506 $5,065,579,507 2%
Information 73,287 $4,075,733,181 1%
Finance and Insurance 124,034 $3,361 598,003 1%
Mining 21,327 $2,374,036,996 1%
Public Administration 17,737 $760,353,116 0%
Management of Companies and Enterprises 6,713 $461 ,814,937 0%
Utilities 5,693 $388,923,044 0%

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Demographics for 2021 PPP
Veteran Loans Approved Net Dollars

Female 1,107,831 $32,363,969,597 Non-Veteran 2,391,403 $97 ,058,461,105
Male 1,725,709 $89,219,791,731 Unknown/NotStated 3,953,249 $170,395,735,174
Unknown/NotStated 3,642,757 $152,146,165,487 Veteran 131,645 $6,275,730,536
Race Loans Approved Net Dollars Ethnicity Loans Approved Net Dollars
American Indian or Alaska Native 54,567 $2,455,576,686 Hispanic or Latino 241,758 $8,771,945,856
Asian 156,552 $7,526,445,322 Not Hispanic or Latino 1,886,127 $81,977,863,988
Black or African American 775,611 $15,232,495,181 Unknown/NotStated 4,348,412 $182,980,116,971
Eskimo & Aleut 13 $367,852
Multi Group 22 $571,645
Neen or Other Pacific 7,451 $246,346,234
Puerto Rican 308 $10,996,605
Unanswered 4,583,098 $205,373,776,108
White 898,675 $42,883,351,182

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