Paycheck Protection Program (PPP) Report
[Pages:18]Paycheck Protection Program (PPP) Report
Approvals through 06/30/2020
Summary of PPP Approved Lending
Loan Count 4,885,388
Net Dollars
Lender Count
$521,483,817,756
5,461
Lender Size
>$50 B in Assets $10 B to $50 B in Assets $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
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Summary of Reported Jobs
Loan Count
Net Dollars
Jobs Reported Lender Count
4,885,388 $521,483,817,756 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.
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Jobs Reported by State
States Not Jobs Shown Reported
CT
0.6M
DC
0.2M
DE
0.1M
HI
0.2M
MA
1.1M
MD
0.9M
NH
0.2M
NJ
1.5M
RI
0.2M
VT
0.1M
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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.
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PPP Statistics Across Census Tracts
Income Group Low and Moderate Income Not Low or Moderate Income
Share of PPP Funds (%) 27% 72%
Share of Population (%) 28% 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.
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Rural and HUBZone PPP Statistics
Category
HUBZone Rural
Loan Count
858,224 979,842
Net
Jobs
Dollars Supported
$117.3B 13 Million $79.8B 12 Million
% of all PPP loans
17.6% 20.1%
% of all PPP $ volume
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.
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