The U.S Small Business Administration (“SBA”) issued a new Paycheck Protection Program (“PPP”) report, providing information on the second round of PPP loan approvals from April 27, 2020 through May 1, 2020.
- Over 2.2 million loans have been approved, totaling more than $175 billion, since lenders resumed accepting loan applications on April 27.
- Over 5,400 banks, lenders and other financial institutions have participated in sourcing loans (more than 5,200 of these lenders were institutions with less than $10 billion in assets).
- Over 164,000 loans, totaling close to $18 billion, have been approved in the second round of PPP loan approvals for small businesses across New York State. Only the state of California (over $33 billion) had had more loans, in terms of dollars approved since April 27.
- The overall average loan size approved in the second round is $79,000.
See the full report below or on the SBA website here
For additional information on the Paycheck Protection Program and other Federal, state and local relief measures, please visit our COVID-19 Resource Center on our website. If you have any questions, please contact your Tronconi Segarra & Associates advisor or a member of our response team at
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