Paycheck Protection Program
(PPP) Report
Approvals through 06/30/2020

 Summary of PPP Approved Lending
Loan Count
4,885,388

Lender Size
>$50 B in Assets
$10 B to $50 B in Assets
<$10 B in Assets

Net Dollars
$521,483,817,756

Lender
Count
34
89
5,338

Lender Count
5,461

Loan
Count

Net Dollars

% of
Amount

1,639,892
739,912
2,505,584

$189,773,791,634
$100,724,547,553
$230,985,478,569

36%
19%
44%

Totals reflect both rounds of PPP funding and cancellations through the report date. Cancellations
include duplicative loans, loans not closed for any reason, and loans that have been paid off.
Approvals through 06/30/2020

2

 Loan Size Distribution
Loan Size

Loan Count

$50K and Under
>$50K - $100K
>$100K - $150K
>$150K - $350K
>$350K - $1M
>$1M - $2M
>$2M - $5M
>$5M

3,262,529
673,563
291,019
376,113
199,456
53,030
24,838
4,840

Net Dollars
$58,652,110,621
$47,963,195,310
$35,626,300,937
$84,452,629,388
$113,442,814,223
$73,522,278,271
$73,841,502,099
$33,982,986,907

% of
Count
66.8%
13.8%
6.0%
7.7%
4.1%
1.1%
0.5%
0.1%

% of
Amount
11.2%
9.2%
6.8%
16.2%
21.8%
14.1%
14.2%
6.5%

Overall average loan size is approximately $107,000.
86.5% of all loans were for less than $150,000.
Approvals through 06/30/2020

3

 Summary of Reported Jobs
Loan Count
4,885,388

Net Dollars
$521,483,817,756

Jobs Reported Lender Count
51,125,937
5,461

• Small businesses, as defined by the US Census, employ 59.9 million
people across the country.
• The PPP supports 51.1 million jobs, as much as 84% of all small business
employees. One quarter of all jobs supported (13 million jobs) were in
Historically Underutilized Business Zones (HUB Zones).

Small business employees nationwide is based on U.S. Census data. PPP Jobs numbers are based on borrower
reported numbers on their PPP applications.

4

 Jobs Reported by State

States Not
Shown

Jobs
Reported

CT

0.6M

DC

0.2M

DE
HI
MA
MD
NH
NJ
RI
VT

0.1M
0.2M
1.1M
0.9M
0.2M
1.5M
0.2M
0.1M
5

 PPP Approval by State as a Percentage of Small Business Payroll

Across all 50 states, 72 percent to 96 percent of estimated small business payroll was covered by PPP loans.

6

 PPP Statistics Across Census Tracts

Income Group

Share of PPP Funds (%)

Share of Population (%)

Low and Moderate Income

27%

28%

Not Low or Moderate Income

72%

71%

PPP loans were made across economically diverse areas of the economy. Low and
moderate income areas received PPP loans approximately proportionate to their
percentage of the population.

Note: Income bins are defined using Community Reinvestment Act definitions, which defines these groups using the ratio of median
family income within a tract compared to median family income in the Metropolitan Statistical Area (MSA) that the tract is located in.

7

 Rural and HUBZone PPP Statistics

Category
HUBZone
Rural

Loan
Count
858,224
979,842

Net
Jobs
Dollars Supported
$117.3B
$79.8B

13 Million
12 Million

% of all
PPP
loans

% of all
PPP $
volume

17.6%
20.1%

22.5%
15.3%

HUBZone refers to an area designated by the SBA as a Historically Underutilized
Business Zone. The designation is designed to identify and help small businesses located
in economically distressed areas. HUBZones are in urban or rural areas. (Map)
Rural refers to PPP loans made in a county where 30% or more the county is defined as
rural by the U.S. Census Bureau.
8

 HUBZone PPP Dollars by State

States
Not
Shown
CT
DC
DE
HI
MA
MD
NH
NJ
PR
RI
VT

Net
Dollars
$1.2B
$0.5B
$0.3B
$0.9B
$2.6B
$1.8B
$0.5B
$2.1B
$0.2B
$0.4B
$0.5B
9

 Industry by NAICS Sector
NAICS Sector Description

Health Care and Social Assistance
Professional, Scientific, and Technical Services
Construction
Manufacturing
Accommodation and Food Services
Retail Trade
Other Services (except Public Administration)
Wholesale Trade
Administrative and Support and Waste Management and Remediation Services
Transportation and Warehousing
Real Estate and Rental and Leasing
Finance and Insurance
Educational Services
Unclassified Establishments
Information
Arts, Entertainment, and Recreation
Agriculture, Forestry, Fishing and Hunting
Mining
Public Administration
Management of Companies and Enterprises
Utilities

Loan
Count
506,263
638,221
466,221
229,591
367,502
450,181
531,572
167,237
240,947
191,609
245,697
168,462
81,387
222,096
69,106
118,332
139,150
21,570
13,423
8,893
7,928

% of
Amount

Net Dollars
$67,356,500,071
$66,430,801,754
$64,568,137,994
$54,002,922,769
$42,099,336,178
$40,355,657,949
$31,145,678,051
$27,726,783,463
$26,482,972,198
$17,088,399,318
$15,631,026,225
$12,205,158,596
$11,998,270,955
$9,901,564,953
$9,264,147,642
$7,996,562,961
$7,908,693,255
$4,510,946,138
$1,733,982,305
$1,581,110,997
$1,495,163,987

12.92%
12.74%
12.38%
10.36%
8.07%
7.74%
5.97%
5.32%
5.08%
3.28%
3.00%
2.34%
2.30%
1.90%
1.78%
1.53%
1.52%
0.87%
0.33%
0.30%
0.29%

PPP supports a diverse range of industries, indicating the breadth of its impact.
Approvals through 06/30/2020

10

 PPP Loans for Religious, Grantmaking, Civic, Professional, and Similar Organizations

Religious Organizations

Loan
Count
88,411

Civic and Social Organizations

11,275

$1.6 B

193,319

34,000
133,686

$4.6 B
$13.5

433,137
1,677,570

Industry Description

Other Non-Profits
Total

Net Dollars

Jobs Count

$7.3 B

1,051,114

Note: Industry description is based on NAICS Code

Traditionally, non-profits are not eligible to receive SBA-guaranteed small business loans.
PPP enabled many non-profit organizations to access loans to support their employees.

11

 Lender Type Diversity
Lender Type

Loan Count

Net Dollars

4,409,646

$496.7 B

48,318,437

4,273

Credit Unions

196,010

$9.7 B

1,183,012

934

Small Business Lending Companies
Fintechs (and other State Regulated
Lenders)
Savings & Loans

59,275

$6.6 B

705,642

14

166,494

$4.7 B

504,324

21

15,021

$1.4 B

156,905

84

Farm Credit Lenders

15,148

$1.3 B

121,755

54

Certified Development Companies

7,550

$382.9 M

44,178

19

Non-Bank CDFI Funds

8,154

$360.9 M

48,257

8

Microlenders

7,098

$209.4 M

30,296

32

Other Non-Banks

347

$102.4 M

9,913

2

BIDCOs

24

$.8 M

190

1

Banks

Jobs Count Lender Count

Of the 5,461 PPP lenders, only 850 were SBA 7(a) lenders in the previous year.
12

 Lender Size Diversity
Lender Asset Size

Loan Count

Net Dollars

Jobs Count

Lender Count

$100M and Under

148,167

$11.5 B

1,253,003

1,117

$>100M - $500M

522,037

$43.8 B

5,102,159

2,623

>$500M - $1B

685,532

$45.4 B

4,944,364

761

>$1B - $5B

890,007

$95.2 B

9,698,005

733

>$5B - $10B

259,841

$35.2 B

3,297,529

104

>$10B - $50B

739,912

$100.7 B

9,595,633

89

>$50B

1,639,892

$189.8 B

17,235,244

34

Among the lenders participating in PPP, 82.4% have less than $1 billion in assets.
13

 Lender Segments

CDFI’s and MDI’s
Lender Type
CDFIs
MDIs

- minus CDFI/MDIs identified in
both groups
Total

Lender Count
303
171

Loan Count
106,113
119,131

Net Dollars
$7,412,641,880
$10,406,956,857

50
424

15,600
209,644

$1,503,802,219
$16,315,796,518

Lenders with <$1b Assets and Non-Banks
Lender Type
Banks (less than $1b)
Small Business Lending Companies
Fintechs (and other State Regulated)
Credit Unions (less than $1b)
Farm Credit Lenders
Savings & Loans (less than $1b)
Certified Development Companies
Non Bank CDFI Funds
Microlenders
BIDCOs
Total

Lender Count Loan Count
3,564
14
19
722
54
77
19
8
32
1
4,510

Net Dollars

1,060,587 $85,118,882,826
59,275
$6,589,391,425
155,006
$4,359,001,508
62,868
$3,023,116,108
15,148
$1,331,464,270
11,418
$1,031,754,405
7,550
$382,858,322
8,154
$360,867,714
7,098
$209,402,173
24
$791,088
1,387,128 $102,407,529,840

Loans from CDFI/MDI banks with Assets less than $1B and non-bank CDFIs are captured in both tables.

Approvals through 06/30/2020

14

 Top PPP Lenders
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Lender Name
JPMorgan Chase Bank
Bank of America
Truist Bank
PNC Bank
Wells Fargo Bank
TD Bank
KeyBank
U.S. Bank
Zions Bank
M&T Bank
Huntington Bank
Fifth Third Bank
Cross River Bank
Citizens Bank
BMO Harris Bank

Loan Count
269,424
334,761
78,669
72,908
185,598
82,773
41,487
101,377
46,707
34,680
37,122
38,197
134,472
49,670
21,362

Net Dollars

Average Loan
Size

$29,066,127,405
$25,203,076,316
$13,075,965,877
$13,038,347,212
$10,470,396,296
$8,468,624,019
$8,138,794,697
$7,444,906,047
$6,941,735,934
$6,791,223,167
$6,528,043,675
$5,434,319,532
$5,361,597,126
$5,007,022,864
$4,815,533,089

The top five banks originated 17 percent of total loan dollars.

$107,882
$75,287
$166,215
$178,833
$56,414
$102,311
$196,177
$73,438
$148,623
$195,825
$175,854
$142,271
$39,871
$100,806
$225,425

% of Total
Authority
4.4%
3.8%
2.0%
2.0%
1.6%
1.3%
1.2%
1.1%
1.1%
1.0%
1.0%
0.8%
0.8%
0.8%
0.7%

Approvals through 06/30/2020

15

 States and Territories
State
AK
AL
AR
AS
AZ
CA
CO
CT
DC
DE
FL
GA
GU
HI
IA
ID
IL
IN
KS
KY

Loan Count
11,169
65,806
42,427
223
81,015
581,140
104,402
60,951
12,483
12,502
393,028
156,814
2,164
24,534
58,466
30,167
202,143
79,151
51,872
48,354

Net Dollars
$1,247,632,643
$6,191,565,635
$3,319,742,303
$10,506,811
$8,624,142,070
$68,225,253,665
$10,369,964,852
$6,690,573,886
$2,137,811,705
$1,489,717,332
$32,045,720,362
$14,502,923,640
$197,016,238
$2,497,717,752
$5,087,064,565
$2,571,003,631
$22,486,267,789
$9,485,147,788
$4,996,112,228
$5,239,687,995

State
LA
MA
MD
ME
MI
MN
MO
MP
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK

Loan
Count
73,825
113,000
81,315
27,200
121,135
98,138
91,498
473
45,817
23,104
121,917
19,724
42,499
23,829
147,550
21,924
42,147
323,903
140,270
64,277

Net Dollars
$7,339,607,519
$14,329,027,191
$10,054,533,726
$2,242,074,846
$15,959,809,357
$11,208,272,990
$9,143,522,129
$39,333,708
$3,165,442,525
$1,762,484,534
$12,405,099,857
$1,765,068,431
$3,421,713,932
$2,550,585,128
$17,204,788,723
$2,240,751,741
$4,125,976,098
$38,349,280,077
$18,370,838,345
$5,446,203,356

State
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VI
VT
WA
WI
WV
WY
To be confirmed

Loan
Count
62,769
165,918
37,837
17,163
63,178
22,508
93,292
389,396
50,691
109,225
1,896
11,929
101,049
85,461
17,322
13,231
167

Net Dollars
$6,978,512,390
$20,711,084,796
$1,800,809,289
$1,879,909,109
$5,740,234,166
$1,664,208,859
$8,916,915,556
$41,051,828,678
$5,247,494,314
$12,611,135,107
$124,453,844
$1,187,439,086
$12,302,067,753
$9,879,400,471
$1,800,837,214
$1,041,442,563
$6,057,463

Approvals through 06/30/2020

16

 PPP Approval Amount by State

States
Not
Shown
CT
DC
DE
HI
MA
MD
NH
NJ
RI
VT
AS
GU
MP
PR
VI

Net Dollars
$6.7B
$2.1B
$1.5B
$2.5B
$14.3B
$10.1B
$2.6B
$17.2B
$1.9B
$1.2B
$0.0B
$0.2B
$0.0B
$1.8B
$0.1B

17

 Amount of Funding Remaining
$ 131,914,229,876

Available funds represents approvals net of cancellations as well as loan amount
increases, decreases, and reinstatements. This remaining funding amount accounts
for statutory program costs. This amount also includes the $10 billion PPP CDFI set
aside.

18