Who got Paycheck Protection Program loans and for how much?

September 3, 2020

Infographic: A look at Paycheck Protection Program loan numbers.

1598537255255 - Who got Paycheck Protection Program loans and for how much?

©2020

Related: The possible tax consequences of PPP loans

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PPP Postmortem - Who got loans and for much?The federal Paycheck Protection Program (PPP) provided loans to help small businesses retain employees during the COVID-19 crisis. Although it initially ran our of money in its first two weeks - forcing congress to authorize additional funds - the PPP closed with a surplus.
  • Between April 3 and August 8: 5,460 approved lenders mande 5.2 millions loans totaling $525 billion.
  • Average Loan Amount = $100,729
    • 69% of loans were for $50,000 or less

Top Industries (net dollars):

  • Health care/social services: $67.8 billion
  • Professional/technical services: $66.8 billion
  • Construction: $65.1 billion
  • Manufacturing: $54.1 billion
  • Hospitality/restaurants: $42.5 billion

Top States (net dollars):

  1. California: $68.6 billion
  2. Texas: $41.3 billion
  3. New York: $38.7 billion
  4. Florida: $32.3 billion
  5. Illinois: $22.8 billion
Remaining loan money = $134 billion*Source: U.S. Small Business Administration
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