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 |