Paycheck Protection Program loans
The Small Business Administration guaranteed 11,468,210 Paycheck Protection Program loans, $792.6 billion in all, from April 2020 into 2021. By September 30, 2024, the date of SBA’s latest file, 10,570,512 of them carried a forgiveness amount and 643,039 had been charged off.
The program, as of September 30, 2024
- $792.6 billion
- Approved
- $792,601,147,274
- As each loan now stands. $796.8 billion was first approved, before reductions.
- 11,468,210
- Loans
- 8,612,447 first draws and 2,855,763 second draws.
- 92.2%
- Forgiven
- 10,570,512 of 11,468,210 loans carry a forgiveness amount, $762.9 billion in all.
- 5.6%
- Charged off
- 643,039 of 11,468,210 loans, approved for $18.2 billion. That is the loans' size, not what SBA lost.
What stands out
Four findings. From SBA's file as of September 30, 2024, each one a row from a query rather than a sentence written about one.
$422.7 billion was approved in April 2020, the program's first month: 53.3% of every dollar PPP approved, in 25.3% of its loans. April 2020 →
The average loan that month was $145,934, against $69,113 across the program.
Sole proprietorships took 3,449,226 loans, 30.1% of all PPP loans, and 7.5% of the dollars. By September 30, 2024, 9.4% of their loans had been charged off, against 1.5% of corporations'. Sole proprietorships →
The business type is the one the borrower gave on the application, as SBA prints it.
Harvest Small Business Finance, LLC services more PPP loans than any other lender, 597,432. By September 30, 2024, 23.8% of them had been charged off, against 5.6% of all PPP loans. Harvest Small Business Finance, LLC →
The servicing lender is the one SBA names on the loan now, which need not be the one that made it. A charge-off is the status SBA records, and says nothing about why.
Illinois had the largest share of its loans charged off by September 30, 2024, 10.1%, and South Dakota the smallest, 0.5%, against 5.6% nationally. Illinois →
By where SBA records the business as operating, across the fifty states and the District.
When the loans were approved
PPP approved $422.7 billion in April 2020, its first month, and never approved more than $81.8 billion in a month again
Dollars approved each month, as each loan now stands, by the approval date SBA recorded: every loan, and the second draws among them.
The largest month after the first was February 2021, at $81.8 billion.
SBA's file dates no loan from September to November 2020; those months are drawn at zero.
SBA's file dates 17 second draws before January 2021, when the second draw opened. They are drawn as published.
U.S. Small Business Administration — SBA Paycheck Protection Program (PPP) FOIA — loan-level data
The figures behind this chart
| Month | Loans | Of them, second draws | Approved | Average loan |
|---|---|---|---|---|
| April 2020 | 2,896,276 | 4 | $422,665,945,668 | $145,934 |
| May 2020 | 1,507,814 | 9 | $77,907,418,124 | $51,669 |
| June 2020 | 408,369 | 2 | $12,586,663,427 | $30,822 |
| July 2020 | 211,452 | 2 | $5,364,264,047 | $25,369 |
| August 2020 | 112,346 | 0 | $3,252,407,363 | $28,950 |
| September 2020 | 0 | 0 | $0 | No loans |
| October 2020 | 0 | 0 | $0 | No loans |
| November 2020 | 0 | 0 | $0 | No loans |
| December 2020 | 5 | 0 | $1,889,500 | $377,900 |
| January 2021 | 864,684 | 655,025 | $71,672,418,572 | $82,889 |
| February 2021 | 1,233,465 | 815,225 | $81,752,725,305 | $66,279 |
| March 2021 | 1,492,503 | 577,403 | $59,782,339,740 | $40,055 |
| April 2021 | 1,735,601 | 486,102 | $38,192,246,931 | $22,005 |
| May 2021 | 1,003,262 | 320,498 | $19,083,425,467 | $19,021 |
| June 2021 | 2,432 | 1,492 | $337,403,129 | $138,735 |
| July 2021 | 1 | 1 | $2,000,000 | $2,000,000 |
Every state, by dollars approved
The state is where SBA records the business as operating, not its mailing address.
The District of Columbia received the most PPP dollars per resident, $4,697, and 13 states and the District had a smaller share of their loan dollars forgiven than the nation's 96.3%
Paycheck Protection Program dollars approved to businesses operating in each state, 2020–2021, divided by the state's population. Hatching marks a state where a smaller share of approved dollars had been forgiven than nationally, as of SBA's file.
The population is the Census Bureau's 2024 estimate, the one vintage held, against loans approved in 2020–2021.
A loan is counted where the business operates, and its employees need not live in the same state, so a per-resident figure is dollars over residents rather than over workers.
West Virginia is lowest at $1,468 per resident.
$3.4 billion in 78,567 loans was filed under territories, armed-forces addresses, SBA’s own code NA or no location at all. It is in the national figures, and on the hub page, and not on this map.
U.S. Small Business Administration — SBA Paycheck Protection Program (PPP) FOIA — loan-level data
The figures behind this chart
| State | Per resident | Approved | Loans | Dollars forgiven |
|---|---|---|---|---|
| California | $2,616 | $103.2 billion | 1,270,597 | 95.3% |
| Texas | $2,005 | $62.7 billion | 938,525 | 96.2% |
| New York | $3,057 | $60.7 billion | 734,821 | 95.4% |
| Florida | $2,142 | $50.1 billion | 983,329 | 93.2% |
| Illinois | $2,934 | $37.3 billion | 620,004 | 94.5% |
| Pennsylvania | $2,330 | $30.5 billion | 342,421 | 97.6% |
| Ohio | $2,288 | $27.2 billion | 351,980 | 96.7% |
| New Jersey | $2,694 | $25.6 billion | 302,438 | 96.5% |
| Georgia | $2,225 | $24.9 billion | 553,314 | 92.6% |
| Michigan | $2,379 | $24.1 billion | 291,523 | 96.8% |
| Massachusetts | $2,954 | $21.1 billion | 217,229 | 97.7% |
| Washington | $2,295 | $18.3 billion | 195,227 | 97.9% |
| Virginia | $2,040 | $18.0 billion | 221,084 | 96.5% |
| North Carolina | $1,599 | $17.7 billion | 258,991 | 97.1% |
| Minnesota | $2,862 | $16.6 billion | 225,360 | 98.5% |
| Colorado | $2,528 | $15.1 billion | 192,260 | 97.4% |
| Maryland | $2,390 | $15.0 billion | 190,713 | 95.9% |
| Wisconsin | $2,385 | $14.2 billion | 187,824 | 98.2% |
| Indiana | $1,999 | $13.8 billion | 186,164 | 97.2% |
| Missouri | $2,196 | $13.7 billion | 233,144 | 98.0% |
| Tennessee | $1,850 | $13.4 billion | 229,733 | 96.5% |
| Arizona | $1,634 | $12.4 billion | 169,250 | 95.8% |
| Louisiana | $2,652 | $12.2 billion | 217,322 | 95.9% |
| Oregon | $2,355 | $10.1 billion | 115,868 | 98.3% |
| Connecticut | $2,694 | $9.9 billion | 117,891 | 98.0% |
| Alabama | $1,825 | $9.4 billion | 169,558 | 96.5% |
| South Carolina | $1,584 | $8.7 billion | 150,225 | 96.2% |
| Oklahoma | $2,033 | $8.3 billion | 154,898 | 98.3% |
| Iowa | $2,494 | $8.1 billion | 171,720 | 99.5% |
| Kentucky | $1,699 | $7.8 billion | 128,416 | 98.1% |
| Kansas | $2,485 | $7.4 billion | 126,401 | 99.0% |
| Utah | $2,014 | $7.1 billion | 84,023 | 97.4% |
| Nevada | $2,089 | $6.8 billion | 118,232 | 93.1% |
| Mississippi | $1,845 | $5.4 billion | 138,389 | 95.7% |
| Nebraska | $2,683 | $5.4 billion | 114,184 | 99.2% |
| Arkansas | $1,619 | $5.0 billion | 102,038 | 97.7% |
| Hawaii | $2,635 | $3.8 billion | 44,567 | 96.4% |
| New Hampshire | $2,630 | $3.7 billion | 40,930 | 99.2% |
| Idaho | $1,749 | $3.5 billion | 52,391 | 98.5% |
| New Mexico | $1,587 | $3.4 billion | 41,162 | 97.5% |
| District of Columbia | $4,697 | $3.3 billion | 29,519 | 94.7% |
| Maine | $2,316 | $3.3 billion | 47,409 | 99.3% |
| North Dakota | $3,633 | $2.9 billion | 51,523 | 98.8% |
| Rhode Island | $2,587 | $2.9 billion | 33,804 | 98.0% |
| South Dakota | $2,952 | $2.7 billion | 64,078 | 99.2% |
| West Virginia | $1,468 | $2.6 billion | 33,314 | 97.9% |
| Montana | $2,279 | $2.6 billion | 47,066 | 98.9% |
| Delaware | $2,141 | $2.3 billion | 27,732 | 96.2% |
| Alaska | $2,766 | $2.0 billion | 23,696 | 97.1% |
| Vermont | $2,718 | $1.8 billion | 21,699 | 99.0% |
| Wyoming | $2,795 | $1.6 billion | 25,657 | 97.4% |
The fifty states and the District of Columbia
| State | Approved | Per resident | Loans | Share of dollars |
|---|---|---|---|---|
| California | $103,162,972,796 | $2,616 | 1,270,597 | 13.0% |
| Texas | $62,747,139,902 | $2,005 | 938,525 | 7.9% |
| New York | $60,733,814,687 | $3,057 | 734,821 | 7.7% |
| Florida | $50,062,847,474 | $2,142 | 983,329 | 6.3% |
| Illinois | $37,288,274,340 | $2,934 | 620,004 | 4.7% |
| Pennsylvania | $30,473,487,662 | $2,330 | 342,421 | 3.8% |
| Ohio | $27,183,717,177 | $2,288 | 351,980 | 3.4% |
| New Jersey | $25,592,689,000 | $2,694 | 302,438 | 3.2% |
| Georgia | $24,877,055,696 | $2,225 | 553,314 | 3.1% |
| Michigan | $24,128,547,594 | $2,379 | 291,523 | 3.0% |
| Massachusetts | $21,080,408,282 | $2,954 | 217,229 | 2.7% |
| Washington | $18,261,773,821 | $2,295 | 195,227 | 2.3% |
| Virginia | $17,971,973,798 | $2,040 | 221,084 | 2.3% |
| North Carolina | $17,665,334,879 | $1,599 | 258,991 | 2.2% |
| Minnesota | $16,578,705,991 | $2,862 | 225,360 | 2.1% |
| Colorado | $15,059,711,848 | $2,528 | 192,260 | 1.9% |
| Maryland | $14,969,399,738 | $2,390 | 190,713 | 1.9% |
| Wisconsin | $14,219,744,015 | $2,385 | 187,824 | 1.8% |
| Indiana | $13,840,329,271 | $1,999 | 186,164 | 1.7% |
| Missouri | $13,714,404,983 | $2,196 | 233,144 | 1.7% |
| Tennessee | $13,370,444,708 | $1,850 | 229,733 | 1.7% |
| Arizona | $12,389,799,641 | $1,634 | 169,250 | 1.6% |
| Louisiana | $12,191,634,818 | $2,652 | 217,322 | 1.5% |
| Oregon | $10,059,749,835 | $2,355 | 115,868 | 1.3% |
| Connecticut | $9,901,972,935 | $2,694 | 117,891 | 1.2% |
| Alabama | $9,414,831,199 | $1,825 | 169,558 | 1.2% |
| South Carolina | $8,679,266,932 | $1,584 | 150,225 | 1.1% |
| Oklahoma | $8,326,305,063 | $2,033 | 154,898 | 1.1% |
| Iowa | $8,085,507,000 | $2,494 | 171,720 | 1.0% |
| Kentucky | $7,795,923,189 | $1,699 | 128,416 | 1.0% |
| Kansas | $7,380,654,623 | $2,485 | 126,401 | 0.9% |
| Utah | $7,057,263,612 | $2,014 | 84,023 | 0.9% |
| Nevada | $6,824,235,027 | $2,089 | 118,232 | 0.9% |
| Mississippi | $5,428,739,881 | $1,845 | 138,389 | 0.7% |
| Nebraska | $5,381,079,797 | $2,683 | 114,184 | 0.7% |
| Arkansas | $5,000,146,265 | $1,619 | 102,038 | 0.6% |
| Hawaii | $3,810,947,655 | $2,635 | 44,567 | 0.5% |
| New Hampshire | $3,706,273,174 | $2,630 | 40,930 | 0.5% |
| Idaho | $3,500,423,291 | $1,749 | 52,391 | 0.4% |
| New Mexico | $3,380,088,439 | $1,587 | 41,162 | 0.4% |
| District of Columbia | $3,298,203,784 | $4,697 | 29,519 | 0.4% |
| Maine | $3,253,555,645 | $2,316 | 47,409 | 0.4% |
| North Dakota | $2,893,824,110 | $3,633 | 51,523 | 0.4% |
| Rhode Island | $2,877,535,620 | $2,587 | 33,804 | 0.4% |
| South Dakota | $2,729,579,826 | $2,952 | 64,078 | 0.3% |
| West Virginia | $2,598,463,498 | $1,468 | 33,314 | 0.3% |
| Montana | $2,592,142,331 | $2,279 | 47,066 | 0.3% |
| Delaware | $2,251,936,204 | $2,141 | 27,732 | 0.3% |
| Alaska | $2,047,445,068 | $2,766 | 23,696 | 0.3% |
| Vermont | $1,762,632,074 | $2,718 | 21,699 | 0.2% |
| Wyoming | $1,642,110,193 | $2,795 | 25,657 | 0.2% |
Filed under a code with no state page
SBA also filed loans under codes this site has no state page for. They are in every national figure above:
| Filed under | Approved | Loans |
|---|---|---|
| PR, a territory | $2,774,390,521 | 70,200 |
| GU, a territory | $297,339,363 | 3,584 |
| VI, a territory | $202,429,881 | 3,403 |
| MP, a territory | $63,797,504 | 919 |
| AS, a territory | $12,437,682 | 314 |
| NA, as SBA wrote it | $4,981,042 | 115 |
| No location on the loan | $658,903 | 28 |
| AE, an armed-forces (APO) address | $63,987 | 4 |
Who borrowed, by the business type on the application
The type as SBA prints it, most loans first. Charged off is the share of the type’s loans whose status SBA records as charged off.
| Business type | Loans | Approved | Average loan | Charged off |
|---|---|---|---|---|
| Sole Proprietorship | 3,449,226 | $59,060,695,601 | $17,123 | 9.4% |
| Limited Liability Company(LLC) | 2,385,321 | $200,707,197,462 | $84,143 | 2.5% |
| Corporation | 2,324,029 | $297,588,290,640 | $128,048 | 1.5% |
| Subchapter S Corporation | 1,040,233 | $130,805,559,825 | $125,746 | 1.2% |
| Self-Employed Individuals | 876,198 | $11,291,969,533 | $12,887 | 12.9% |
| Independent Contractors | 816,784 | $9,580,143,570 | $11,729 | 11.0% |
| Non-Profit Organization | 250,238 | $47,032,783,485 | $187,952 | 0.5% |
| Partnership | 118,213 | $13,840,078,085 | $117,077 | 1.2% |
| Single Member LLC | 68,541 | $1,022,078,174 | $14,912 | 8.1% |
| Limited Liability Partnership | 59,401 | $8,818,167,137 | $148,451 | 1.5% |
| Professional Association | 39,154 | $4,636,644,496 | $118,421 | 1.0% |
| 501(c)3 – Non Profit | 12,218 | $2,969,183,760 | $243,017 | 1.1% |
| Cooperative | 9,128 | $1,891,288,079 | $207,196 | 1.2% |
| 501(c)6 – Non Profit Membership | 5,264 | $553,753,151 | $105,196 | 0.3% |
| Non-Profit Childcare Center | 3,894 | $592,214,870 | $152,084 | 0.2% |
| Trust | 2,526 | $362,463,107 | $143,493 | 1.5% |
| Joint Venture | 1,617 | $112,804,872 | $69,762 | 6.1% |
| Qualified Joint-Venture (spouses) | 1,112 | $15,763,518 | $14,176 | 6.2% |
| Employee Stock Ownership Plan(ESOP) | 1,104 | $944,023,860 | $855,094 | 0.8% |
| Tenant in Common | 656 | $26,654,425 | $40,632 | 5.9% |
| Housing Co-op | 576 | $79,360,729 | $137,779 | 0.0% |
| 501(c)19 – Non Profit Veterans | 317 | $5,611,353 | $17,701 | 0.9% |
| Tribal Concerns | 126 | $56,087,978 | $445,143 | 0.0% |
| Rollover as Business Start-Ups (ROB | 41 | $3,618,636 | $88,259 | 0.0% |
| 501(c) – Non Profit except 3,4,6,19 | 38 | $5,286,910 | $139,129 | 0.0% |
2,255 loans carry no business type. They are in the national figures and not in this table.
The lenders that made the most loans
The servicing lender as SBA names it, ranked by the number of loans. The average loan beside it shows how large each lender’s loans were, and charged off the share of its loans whose status SBA records as charged off.
| Lender | Loans | Approved | Average loan | Charged off |
|---|---|---|---|---|
| Harvest Small Business Finance, LLC | 597,432 | $11,563,412,544 | $19,355 | 23.8% |
| Cross River Bank | 554,703 | $14,466,011,874 | $26,079 | 14.3% |
| Bank of America, National Association | 491,035 | $34,412,024,450 | $70,081 | 2.1% |
| JPMorgan Chase Bank, National Association | 452,892 | $44,111,851,717 | $97,400 | 2.2% |
| Prestamos CDFI, LLC | 444,780 | $6,849,909,472 | $15,401 | 9.9% |
| Capital Plus Financial, LLC | 396,761 | $6,346,156,698 | $15,995 | 11.8% |
| Customers Bank | 357,641 | $10,270,243,793 | $28,717 | 12.2% |
| Benworth Capital | 311,022 | $4,222,794,692 | $13,577 | 22.6% |
| Fountainhead SBF LLC | 287,686 | $4,719,641,850 | $16,406 | 12.4% |
| Wells Fargo Bank, National Association | 280,664 | $13,774,209,755 | $49,077 | 3.4% |
| U.S. Bank, National Association | 196,057 | $13,895,233,173 | $70,873 | 2.7% |
| Itria Ventures LLC | 172,831 | $4,867,055,203 | $28,161 | 10.9% |
| Square Capital, LLC | 153,182 | $1,540,436,437 | $10,056 | 2.1% |
| PNC Bank, National Association | 150,019 | $21,408,598,962 | $142,706 | 2.4% |
| TD Bank, National Association | 133,139 | $12,276,646,002 | $92,209 | 3.1% |
Everything in this hub
Every page in this topic, by kind: 10,688,157 in all.
Borrowers
10,688,106SBA’s record of each borrower’s loans, a borrower being a name and an address as SBA published them. The index lists every one by the state on its address, then by name.
States
51PPP loans to businesses operating in each state, by county, with how many carry a forgiveness amount and how many were charged off.
Sources
- SBA Paycheck Protection Program (PPP) FOIA — loan-level data — U.S. Small Business Administration · Public domain — U.S. Government work · retrieved September 25, 2026
Data retrieved