SBA News Updates

Paycheck Protection Program (PPP) Has Helped More Than 3.8 Million Small Businesses … And Counting

Since the launch of the PPP April 3, the SBA has processed more than 3.8 million loans for more than half a trillion dollars of economic support.

In the second round of PPP funding, smaller lenders and smaller businesses are leading the way. Since the SBA resumed processing PPP loans April 27:

  • 2.2 million loans have been approved, which surpasses round one
  • $175 billion in loans have been approved
  • The average loan size is $79,000 compared to $206,000 in round one

Locally in the Pacific Northwest, the following PPP loans have been approved in round two so far:

  • Alaska: 3,920 loans worth $338.7 million
    Combined with round one: 8,762 loans worth nearly $1.3 billion
  • Idaho: 12,411 loans worth $719.8 million
    Combined: 26,038 loans worth nearly $2.6 billion
  • Oregon: 31,119 loans worth $3 billion
    Combined: 49,851 loans worth $6.8 billion
  • Washington: 50,288 loans worth $5 billion
    Combined: 80,709 loans worth $12 billion

Read more about PPP progress in this joint statement from SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin; or, in these reports.

Approximately $135 billion in PPP funding is still available for small businesses. Connect with a lender to learn more.

Visit SBA.gov/paycheckprotection