PPP Progress Report

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Pacific Northwest Region - April 28, 2020

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Paycheck Protection Program (PPP) Progress Report

Yesterday morning the SBA resumed processing PPP loans with additional funding from the Paycheck Protection Program and Health Care Enhancement Act signed into law April 24. The following is a national snapshot progress report of PPP loan approvals made yesterday through this morning:  

  • More than 475,000 loans valued at more than $52 billion processed by more than 5,100 lenders were approved.

  • Small lenders are leading the way. More than 331,000 – or nearly 70% of all loans approved – are from small lenders with fewer than $10 billion in assets, typically community financial institutions and smaller federally-insured banks and credit unions.

  • When combined with medium lenders who have assets between $10 and $50 billion, 87% of all approved loans have been made by small and medium lenders.


Jeremy Field


From SBA Pacific Northwest Regional Administrator Jeremy Field: 

"The SBA is committed to see funding go to the small businesses that need it most in a process that is fast and fair. We continue to work diligently with local small business lenders and collaborate with resource partners. This snapshot of data supports what we’re hearing anecdotally: more jobs and businesses are being saved with help from PPP loans."

 

For more information about PPP and other funding options for small businesses, visit:

SBA.gov/CoronavirusRelief

Create a business plan for now and life after COVID-19


The SBA Resource Partner Network – which includes Small Business Development Centers, SCORE Mentors and Women's Business Centers – has experienced business advisers who are guiding businesses through this crisis and helping them plan what their business will look like on the other side of this outbreak.

SBA Resource Partners provide business resiliency readiness webinars and virtual one-on-one advising at no-cost to small businesses.

 


Continue to get updated information and resources at www.SBA.gov/coronavirus 

 

Follow us on Twitter at
@SBAgov or @SBAPacificNW

 

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