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 |