The Woodard Report

Final Days of PPP - By the Numbers

Written by Cathy Roth | May 28, 2021 3:39:47 PM

As the last few days of May bring a formal end to the era of the Paycheck Protection Program, many businesses - and accountants and bookkeepers like you - are starting to dig into PPP forgiveness. And a very few businesses are frantically trying to get one final loan approved just before the bell rings.

With the stress and confusion of the PPP since the program began, as well as fraud investigations and prosecutions that are likely to continue for years to come, the topic of PPP has been front and center in news - and most likely in your minds.

As you transition fully into forgiveness applications, let's take a look back at PPP with some numbers you can share with your clients.

These numbers are taken from the SBA's PPP Weekly Report version 18, effective 5-23-2021. Note: Don't go down the rabbit hole of looking at the full book unless you have some spare time! You might end up like me spending lots of productivity units looking for raw data and digging through it.

All PPP-approved lending

  • 11,618,144 loans approved
  • $795,908,415,697 total net dollars
  • 5,469 total lenders

 

2021 PPP-approved lending

  • 6,476,297 loans approved
  • $273,729,926,815 total net dollars
  • 5,244 total lenders

 

Loan Size for 2021 PPP lending

  • $50,000 and under
    • 5.6 million loans
    • 86.8% of total number of loans
    • 32% of loan dollars
  • $50,000 - $150,000
    • 551,421 loans
    • 8.5% of total number of loans
    • 17.8% of loan dollars
  • $150,000 - $5,000,000
    • 305,407 loans
    • 4.7% of total number of loans
    • 49.2% of loan dollars
  • $5,000,000 and over
    • 327 loans
    • negligible percentage of total number of loans
    • 1% of loan dollars