Massachusetts ranks 5th in average loan size in the latest SBA statistics for the Payroll Protection Program.
The latest SBA report covers 15 days of PPP loan approvals, making a total 26 days since Round 2 started. Over this period, Massachusetts ranked 5th with an average loan size of $194,128, more than double the initial average loan size of $82,794. For the full period of Round 2, through May 23rd, Massachusetts was the 10th ranked state with an average loan size of $134,677.
In total, 105,819 PPP Round 2 loans were approved in Massachusetts for $14.25 billion. California received the highest number of loans and the most in dollars, but their average loan was slightly lower than Massachusetts. DC businesses received the highest average loan amount at $192,844.
Top ten states by Total Loan Amount
| State | Loan Count | Net Dollars | Average Loan |
| CA | 517,371 | $66,516,390,881 | $128,566 |
| TX | 352,993 | $40,289,668,116 | $114,137 |
| NY | 286,743 | $37,442,694,244 | $130,579 |
| FL | 336,539 | $30,433,602,779 | $90,431 |
| IL | 181,102 | $22,075,994,303 | $121,898 |
| PA | 155,396 | $ 20,516,529,432 | $132,027 |
| OH | 129,626 | $ 18,150,438,777 | $140,022 |
| NJ | 131,696 | $ 16,863,791,540 | $128,051 |
| MI | 113,067 | $ 15,714,549,484 | $138,984 |
| MA | 105,819 | $ 14,251,390,112 | $134,677 |
Data Source: SBA approvals of Round 2 through May 23rd.