There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
Data used for analysis only included loans over $150,000.
Lenders | Total dollars loaned |
---|---|
Wells Fargo Bank, National Association | $2.35-6 million |
Newtek Small Business Finance, Inc. | $2.35-6 million |
Harvest Small Business Finance, LLC | $3.15-7.35 million |
Benworth Capital | $1.15-2.35 million |
First Federal Savings & Loan Association of Lakewood | $1-2 million |
CIBC Bank USA | $1-2 million |
Bank of America, National Association | $1.5-3.35 million |
Western Alliance Bank | $350,000-1 million |
Customers Bank | $500,000-1.35 million |
Washington Federal Bank, National Association | $500,000-1.35 million |
Cross River Bank | $350,000-1 million |
Zions Bank, A Division of | $500,000-1.35 million |
First Home Bank | $350,000-1 million |
JPMorgan Chase Bank, National Association | $500,000-1.35 million |
Wintrust Bank, National Association | $350,000-1 million |
Itria Ventures LLC | $350,000-1 million |
BOKF, National Association | $500,000-1.35 million |
BBVA USA | $500,000-1.35 million |
American Express National Bank | $500,000-1.35 million |
BMO Harris Bank National Association | $500,000-1.35 million |
Arizona Bank & Trust | $500,000-1.35 million |
WebBank | $350,000-1 million |
CDC Small Business Finance Corporation | $500,000-1.35 million |
U.S. Bank, National Association | $500,000-1.35 million |
MidFirst Bank | $500,000-1.35 million |
1st Bank Yuma | $500,000-1.35 million |
Glacier Bank | $500,000-1.35 million |
Bell Bank | $500,000-1.35 million |
Territorial Bank of American Samoa | $500,000-1.35 million |
FC Marketplace, LLC (dba Funding Circle) | $500,000-1.35 million |
Arizona Central CU | $350,000-1 million |
Radius Bank | $500,000-1.35 million |
1st Source Bank | $350,000-1 million |
Commerce Bank of Arizona | $150,000-350,000 |
Republic Bank of Arizona | $150,000-350,000 |
Bankers Trust Company | $150,000-350,000 |
New York Community Bank | $150,000-350,000 |
First International Bank & Trust | $150,000-350,000 |
First Fidelity Bank | $150,000-350,000 |
Accion | $150,000-350,000 |
Community Federal Savings Bank | $150,000-350,000 |
Prestamos CDFI, LLC | $150,000-350,000 |
Great Western Bank | $150,000-350,000 |
Navy FCU | $150,000-350,000 |
Canyon Community Bank, National Association | $150,000-350,000 |
BNC National Bank | $150,000-350,000 |
Enterprise Bank & Trust | $150,000-350,000 |
Bank of George | $150,000-350,000 |
Cache Valley Bank | $150,000-350,000 |
Alerus Financial, National Association | $150,000-350,000 |
Desert Financial FCU d/b/a Desert Financial CU | $150,000-350,000 |
US Eagle FCU | $150,000-350,000 |
Notre Dame FCU | $150,000-350,000 |