The U.S. Small Business Administration (SBA) released an updated Paycheck Protection Program (PPP) Report detailing total data from both rounds of PPP funding through May 16.  

The totals in the report reflect cancellations due to duplicative loans, loans not closed for any reason, and loans that have been paid off. This includes repayment from the May 18 safe harbor deadline the SBA implemented to allow businesses owned by large companies with adequate sources of liquidity to repay the PPP loan in full if the loan was approved prior to the guidance provided April 24. 

The following is summary of all available PPP data for states in the SBA Pacific Northwest Region plus national numbers for reference: 

Summary of PPP Approved Lending 

 

Loan Numbers 

Loan Volume 

As of May 16 

As of May 8 

As of May 16 

As of May 8 

Alaska 

9,890 

9,592 

$1.2 billion 

$1.3 billion 

Idaho 

28,125 

27,678 

$2.6 billion 

$2.6 billion 

Oregon 

55,882 

54,483 

$6.8 billion 

$7 billion 

Washington 

90,505 

88,570 

$12.1 billion 

$12.4 billion 

National 

4.3 million 

4.2 million* 

$513 billion 

$530 billion* 

*Numbers as of May 10 

“The Payment Protection Program is the economic boost, good news and hope small businesses need right now,” SBA Pacific Northwest Regional Administrator Jeremy Field said. “With loan volume slightly down and loan numbers up, we are encouraged to see the data reflects the ongoing trend playing out anecdotally: more and more smaller businesses are accessing PPP funds, just as the legislation intended.” 

The average loan size reflects the trend of smaller businesses accessing PPP funds: 

$206,000Average loan size in round one of PPP funding 

$70,622Average loan size in round two of PPP funding 

$118,000Overall average loan size for all of PPP funding 

Approximately 5,500 lenders have teamed up with the SBA to provide PPP loans to small businesses, a 200% increase in lender participation compared to the approximately 1,800 lenders who participated in the SBA 7(a) Loan Program prior to the Coronavirus outbreak.  

The report also contains PPP loan numbers and volume by lender size and lender type. 

More than $100 billion in PPP funds are still available for small businesses impacted by the Coronavirus outbreak. 

More information about PPP for borrowers and lenders along with data reports are available at www.sba.gov/paycheckprotection.  

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