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 |
---|---|
Newtek Small Business Finance, Inc. | $2M - $5M |
Fountainhead SBF LLC | 500,000 - $1.35M |
Washington Federal Bank, National Association | 350,000 - $1M |
Zions Bank, A Division of | 500,000 - $1.35M |
First Home Bank | 350,000 - $1M |
JPMorgan Chase Bank, National Association | 350,000 - $1M |
Wells Fargo Bank, National Association | 350,000 - $1M |
Cross River Bank | 500,000 - $1.35M |
Customers Bank | 500,000 - $1.35M |
Territorial Bank of American Samoa | 350,000 - $1M |
Radius Bank | 500,000 - $1.35M |
MidFirst Bank | 150,000 - 350,000 |
Glacier Bank | 150,000 - 350,000 |
1st Bank Yuma | 150,000 - 350,000 |
First Fidelity Bank | 150,000 - 350,000 |
Bankers Trust Company | 150,000 - 350,000 |
U.S. Bank, National Association | 150,000 - 350,000 |
Accion | 150,000 - 350,000 |
WebBank | 150,000 - 350,000 |
Community Federal Savings Bank | 150,000 - 350,000 |
FC Marketplace, LLC (dba Funding Circle) | 150,000 - 350,000 |
Great Western Bank | 150,000 - 350,000 |
Fundbox, Inc. | 150,000 - 350,000 |
Cache Valley Bank | 150,000 - 350,000 |