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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
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