Lenders under $10 billion in assets have made more than 2.26 million Paycheck Protection Program loans worth more than $224 billion through both rounds of funding, the Small Business Administration reported.
Smaller lenders lead both PPP rounds: data
June 09, 2020 / By ICBA
Lenders under $10 billion in assets have made more than 2.26 million Paycheck Protection Program loans worth more than $224 billion through both rounds of funding, the Small Business Administration reported.
Lenders under $10 billion in assets have made more than 2.26 million Paycheck Protection Program loans worth more than $224 billion through both rounds of funding, the Small Business Administration reported.
According to an SBA summary of loan approvals through June 6, lenders from $10 billion to $50 billion in assets made more than 704,000 loans worth nearly $100 billion. Combined, the two asset classes account for more than 65 percent of approved loans and more than 63 percent of the approved dollar amount.
Community bankers who continue to have trouble with the SBA's E-Tran and SBA Connect Lender Gateway portals can direct assistance questions to the SBA at 833-572-0502 or cls@sba.gov. Additional guidance and resources are available on Treasury’s PPP webpage and ICBA's COVID-19 resource center.
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