SBA Releases Paycheck Protection Program (PPP) Loan Numbers

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Utah District Office - April 14, 2020

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SBA Releases Paycheck Protection Program (PPP) Loan Numbers (As of April 13, 2020)

SALT LAKE CITY --The U.S. Small Business Administration (SBA) has released the number of loans approved, as of April 13, 2020, under its newly established Paycheck Protection Program. Nationally, the count is over 1 million loans amounting to $247.5 billion, with 4,664 lenders participating in the program.

“This is good news as it provides confirmation that loans are being approved and funds are being disbursed by SBA lenders,” said Utah District Director Marla Trollan. “These are impressive results for a program that was implemented only 12 days ago.”

“In Utah, we have approved nearly 13,000 loans valued at over $2.6 billion,” Trollan said. “This volume represents over ten times what we normally process in a year.” Funding is still available; however, these funds are based on first come, first served. If you haven’t already applied, there is still time. “We know some Utah businesses have already received funds and I encourage you to apply as quickly as possible,” Trollan emphasized.

To apply for funds through the PPP program visit: www.sba.gov/ppp.

Table represents National Number of Loans and their amount of approved funding.

National PPP Performance

  • Total Loans: 1,035,086
  • Gross Dollars: $247,543,393,521
  • # of Participating SBA Lenders: 4,664

Utah PPP Performance

  • Total Approved Loans: 12,914
  • Total Approved Dollars: $2,617,066,864

Loans by Dollar Amount

Loan Size

Approved Loans

Approved Dollars

% of Count

% of Amount

< $150K

725,058

$37,178,984,187

70.05%

15.02%

$150K - $350K

156,590

$35,735,615,983

15.13%

14.44%

$350K - $1M

102,473

$59,291,602,643

9.90%

23.95%

$1M - $2M

31,176

$43,278,883,532

3.01%

17.48%

$2M - $5M

16,516

$49,288,997,593

1.60%

19.91%

> $5M

3,273

$22,769,309,582

0.32%

9.20%

*Overall average loan size is $239,152

Email SBA Utah


Find answers to the most common PPP-related questions.
(As of April 10, 2020)

The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). This document will be updated on a regular basis. Click the link below to access FAQ document.

PAYCHECK PROTECTION PROGRAM FAQs


CLICK HERE FOR PPP APPLICATION

REQUEST LIST OF PARTICIPATING PPP LENDERS


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RESOURCES FOR FAITH-BASED ORGANIZATIONS


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CONTACT RAPID RESPONSE TEAM


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APPLY FOR EIDL AND EIDL ADVANCE


Beware of Fraudulent Service Offers

Borrowers beware, there are fraudsters out there!

In response to the economic damage occurring as a result of the Coronavirus pandemic, the US Small Business Administration has activated a several programs to assist small businesses in weathering the storm – the Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP)

Please use caution and perform your due diligence when considering paying for private services that claim to assist with loan applications. Some may be legitimate, some may not. In some cases, the fees/charges they want to assess may not be allowed under these loan programs. 

If you have any questions about any of these organizations or the things they are representing, please contact the SBA Utah District Office at utahgeneral@sba.gov or 801-524-3209.


COVID-19 Business Resources

SBA ECONOMIC INJURY DISASTER LOAN (EIDL) INFORMATION & RESOURCE DIRECTORY

APPLY ONLINE (RECOMMENDED):
https://covid19relief.sba.gov/#/
- Apply online
- Get additional disaster assistance information
- Download application forms

NEED MORE HELP:
SBA EIDL Customer Service Center
Phone: (800) 659-2955
Email: disastercustomerservice@sba.gov

HEARING IMPAIRED:
(800) 877-8339.

PAPER APPLICATION BY MAIL (ONLINE RECOMMENDED):
Completed applications should be mailed to:
U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

FEDERAL GOVERNMENT CORONAVIRUS INFO:
Coronavirus.gov.

SBA CORONAVIRUS INFO:
SBA.gov/coronavirus


How to submit questions to the SBA Rapid Response Team:


SBA Utah District Office Staff Contact Information:

Marla Trollan, District Director
marla.trollan@sba.gov
(o) 801-524-3200
(c) 385-218-1995

Chris Stever, Deputy District Director
christopher.stever@sba.gov
(o) 801-524-3215
(c) 385-266-1495

John Gygi, District Counsel
john.gygi@sba.gov
(o) 801-524-3205
(c) 801-889-6170

Ian Lorenzana, Public Information Officer
ian.lorenzana@sba.gov
(o) 801-524-3218
(c) 385-388-3276

Siobhan Carlile, Public Affairs Specialist
siobhan.carlile@sba.gov
(o) 801-524-3217
(c) 706-267-1145

Don MacMillan, Lender Relations Specialist
donald.macmillan@sba.gov
(o) 801-524-3226

Karl Wernick, Lender Relations Specialist
karl.wernick@sba.gov
(o) 801-524-3210
(c) 385-355-5815

Melinda Workman, Economic Development Specialist
melinda.workman@sba.gov
(o) 801-524-3213
(c) 385-266-1853

Rachel Bennett, Economic Development Specialist
rachel.bennett@sba.gov
(o) 801-524-3204
(c) 385-355-5677

Cody Neville, Business Opportunity Specialist
cody.neville@sba.gov
(o) 801-524-3206
(c) 801-828-0796

Cheryl Richens, Administrative Officer
cheryl.richens@sba.gov
(o) 801-524-3219

Sharlene Miller, Paralegal