
Who got Paycheck Protection Program loans and for how much?
Infographic: A look at Paycheck Protection Program loan numbers.
©2020
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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):
- California: $68.6 billion
- Texas: $41.3 billion
- New York: $38.7 billion
- Florida: $32.3 billion
- Illinois: $22.8 billion