Paycheck Protection Program (PPP) Report: Approvals through 02/28/2021
Summary
The SBA's Paycheck Protection Program (PPP) Report for approvals through 02/28/2021. All PPP lending stands at 7,341,398 loans for $678,702,450,013 from 5,469 lenders, and 2021 lending at 2,194,420 loans for $156,253,510,068 from 5,185 lenders. Second Draw Loans make up 1,490,063 of the 2021 loans and $140,738,062,805, against 704,357 First Draw Loans for $15,515,447,263. Banks and S&Ls with less than $10B in assets made 899,997 loans, slightly more than the 891,651 made by banks with $10B or more. JPMorgan Chase Bank led by dollars with $6,048,741,297, though Bank of America made more loans, 87,696 to 81,430, and the overall average loan size was $71K.
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“Paycheck Protection Program (PPP) Report: Approvals through 02/28/2021.”
Original at legacy.sba.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/sba-paycheck-protection-program-weekly-reports-2021-ppp-report-public-b4db407bea/
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Paycheck Protection
Program (PPP) Report
Approvals through 02/28/2021
Summary of All PPP Approved Lending
Loans Approved Total Net Dollars Total Lender Count
7,341,398 $678,702,450,013 5,469
Summary of 2021 PPP Approved Lending
Loans Approved Net Dollars Lender Count
2,194,420 $156,253,510,068 5,185
Approvals through 02/28/2021 2
Loan Breakdown for 2021 PPP
First Draw Loans Loans Approved Net Dollars Average Loan Size Lender Count
Total First Draw Loans 704,357 $15,515,447,263 $22,028 4,959
First Draw Loans with 10 or fewer employees 684,058 $10,809,759,318 $15,802 4,933
First Draw Loans LMI & Less than $250k 175,719 $3,304,084,423 $18,803 3,784
Second Draw Loans Loans Approved Net Dollars Average Loan Size Lender Count
Total Second Draw Loans 1,490,063 $140,738,062,805 $94,451 5,143
Second Draw Loans with 10 or fewer employees 1,114,965 $36,578,046,482 $32,806 5,118
Second Draw Loans LMI & Less than $250k 313,829 $16,002,382,719 $50,991 4,420
First & Second Draw Loans Loans Approved Net Dollars Average Loan Size Lender Count
Total First & Second Draw Loans 2,194,420 $156,253,510,068 $71,205 5,185
PPP Loans by Community Financial Institutions 100,771 $6,844,714,145 $67,923 445
PPP Loans by Insured Depository Institutions
899,997 $71,658,020,757 $79,620 4,103
<$10B in Assets
PPP Loans by Credit Unions <$10B in Assets 68,668 $3,205,399,399 $46,680 812
PPP Loans by Farm Credit System Institutions
9,541 $201,289,613 $21,097 40
<$10B in Assets
Approvals through 02/28/2021 3
Lender Types for 2021 PPP
Lender Type Lender Count Loans Approved Net Dollars
Banks and S&Ls(less than $10B) 4,103 899,997 $71,658,020,757
Banks and S&Ls($10B or more) 111 891,651 $70,919,899,419
Fintechs (and other State Regulated) 33 242,765 $6,636,137,710
Credit Unions (less than $10B) 812 68,668 $3,205,399,399
Small Business Lending Companies 13 54,518 $2,727,585,618
Farm Credit Lenders 46 17,740 $453,417,011
Credit Unions ($10B or more) 8 7,381 $254,315,574
Microlenders 30 5,401 $147,557,687
Certified Development Companies 17 2,535 $140,831,289
Non Bank CDFI Funds 8 3,752 $109,990,615
BIDCOs 1 7 $225,138
To Be Confirmed 3 5 $129,852
Total 5,185 2,194,420 $156,253,510,068
Approvals through 02/28/2021 4
States and Territories
State Loan Count Net Dollars State Loan Count Net Dollars State Loan Count Net Dollars
AK 5,329 $478,005,301 LA 32,907 $2,414,211,501 OR 25,052 $2,094,479,333
AL 27,466 $1,679,164,433 MA 46,993 $4,526,666,713 PA 67,940 $6,159,317,607
AR 17,813 $871,942,737 MD 35,663 $2,953,330,864 PR 10,950 $452,519,529
AS 0 $0 ME 9,454 $669,839,679 RI 7,998 $692,589,654
AZ 27,326 $2,077,524,839 MI 57,017 $5,126,785,491 SC 21,747 $1,505,393,388
CA 233,434 $20,473,401,291 MN 55,926 $3,435,422,963 SD 20,343 $651,801,559
CO 40,799 $3,165,196,782 MO 56,548 $2,787,573,482 TN 37,162 $2,309,918,861
CT 25,330 $2,117,852,795 MP 202 $10,082,065 TX 157,148 $11,794,791,488
DC 5,361 $670,656,687 MS 19,454 $924,641,473 UT 15,929 $1,238,636,741
DE 4,816 $453,150,798 MT 11,329 $557,793,476 VA 40,523 $3,326,483,232
FL 156,795 $9,106,572,137 NC 42,065 $3,001,046,036 VI 306 $31,086,826
GA 75,323 $3,976,914,890 ND 16,128 $743,092,764 VT 4,852 $398,609,527
GU 567 $47,862,630 NE 36,640 $1,260,766,312 WA 40,568 $3,833,648,142
HI 10,011 $928,943,010 NH 9,009 $840,848,338 WI 40,973 $2,849,791,231
IA 53,888 $1,846,008,969 NJ 58,153 $4,909,343,605 WV 6,332 $531,288,669
ID 8,947 $558,268,627 NM 8,440 $758,307,842 WY 7,106 $465,360,805
IL 128,390 $8,165,099,788 NV 18,250 $1,329,771,323 To be confirmed 1 $13,125
IN 34,031 $2,567,058,549 NY 145,074 $12,452,474,789
KS 35,931 $1,539,878,584 OH 64,045 $4,851,402,332
KY 30,363 $1,606,936,773 OK 44,273 $2,033,939,683
Approvals through 02/28/2021 5
Loan Size for 2021 PPP
Loan Size Loan Count Net Dollars % of Count % of Amount
$50K and Under 1,592,793 $27,543,243,730 72.6% 17.6%
>$50K - $100K 256,136 $18,333,643,461 11.7% 11.7%
>$100K - $150K 128,269 $15,903,621,644 5.8% 10.2%
>$150K - $350K 133,337 $30,177,602,754 6.1% 19.3%
>$350K - $1M 66,113 $36,905,982,911 3.0% 23.6%
>$1M - $2M 17,566 $26,448,309,153 0.8% 16.9%
>$2M - $5M 145 $464,450,597 0.0% 0.3%
>$5M 61 $476,655,819 0.0% 0.3%
* Overall average loan size is: $71K.
Approvals through 02/28/2021 6
Top PPP Lenders for 2021 PPP
Rank Lender Name Loans Approved Net Dollars Average Loan Size
1 JPMorgan Chase Bank 81,430 $6,048,741,297 $74,281
2 Bank of America 87,696 $5,339,101,618 $60,882
3 Itria Ventures LLC 165,827 $4,756,975,303 $28,686
4 PNC Bank 28,633 $2,877,088,585 $100,482
5 Cross River Bank 106,086 $2,511,524,537 $23,674
6 M&T Bank 15,507 $2,044,126,456 $131,820
7 Zions Bank 16,593 $1,982,086,510 $119,453
8 U.S. Bank 35,663 $1,914,171,309 $53,674
9 Wells Fargo Bank 44,861 $1,892,379,160 $42,183
10 TD Bank 21,833 $1,863,067,115 $85,333
11 Northeast Bank 17,255 $1,855,213,143 $107,517
12 KeyBank 14,791 $1,708,999,583 $115,543
13 Citizens Bank 26,544 $1,531,712,319 $57,705
14 Customers Bank 54,576 $1,405,437,610 $25,752
15 Fifth Third Bank 14,390 $1,333,769,118 $92,687
Approvals through 02/28/2021 7
Industry for 2021 PPP
NAICS Sector Description Loan Count Net Dollars % of Amount
Accommodation and Food Services 219,824 $28,088,760,062 18%
Construction 190,492 $20,700,191,681 13%
Professional, Scientific, and Technical Services 262,880 $17,275,842,348 11%
Health Care and Social Assistance 199,943 $16,451,978,084 11%
Manufacturing 92,545 $15,304,338,137 10%
Other Services (except Public Administration) 260,195 $10,788,767,819 7%
Retail Trade 149,200 $7,673,547,560 5%
Administrative and Support and Waste Management and Remediation Services 90,461 $6,337,736,478 4%
Wholesale Trade 61,374 $6,279,353,733 4%
Agriculture, Forestry, Fishing and Hunting 272,635 $5,408,716,753 3%
Transportation and Warehousing 108,969 $5,171,022,004 3%
Arts, Entertainment, and Recreation 69,559 $3,619,229,210 2%
Real Estate and Rental and Leasing 83,474 $3,615,642,105 2%
Educational Services 39,453 $2,928,415,140 2%
Information 28,695 $2,432,255,566 2%
Mining 10,866 $1,727,408,329 1%
Finance and Insurance 43,037 $1,521,431,323 1%
Public Administration 6,205 $426,078,421 0%
Management of Companies and Enterprises 2,446 $267,497,167 0%
Utilities 2,167 $235,298,149 0%
Approvals through 02/28/2021 8
Demographics for 2021 PPP
Gender Loans Approved Net Dollars Veteran Loans Approved Net Dollars
Female 286,935 $15,134,680,997 Non-Veteran 720,590 $53,619,394,786
Male 633,598 $54,248,936,357 Unknown/NotStated 1,427,356 $99,010,249,087
Unknown/NotStated 1,273,887 $86,869,892,715 Veteran 46,474 $3,623,866,196
Race Loans Approved Net Dollars Ethnicity Loans Approved Net Dollars
American Indian or Alaska Native 25,216 $1,483,665,027 Hispanic or Latino 77,554 $4,303,993,068
Asian 70,497 $3,962,306,792 Not Hispanic or Latino 634,916 $47,203,395,486
Black or African American 113,617 $3,056,970,898 Unknown/NotStated 1,481,950 $104,746,121,515
Eskimo & Aleut 2 $27,359
Multi Group 9 $316,269
Native Hawaiian or Other Pacific
1,892 $107,305,197
Islander
Puerto Rican 106 $4,208,426
Unanswered 1,643,354 $123,684,757,204
White 339,727 $23,953,952,897
Approvals through 02/28/2021 9
File and source
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- PPP_Report_Public_210228-508.pdf
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- SHA-256
- 7e530f8779e4e1aabf657e11911f8c8bcaab4df2181761a9b8c53946d0341bc8
- Our copy
- PPP_Report_Public_210228-508.pdf
- Original
- legacy.sba.gov