SBA PPP Loan Updates – Massachusetts

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         … [Read more...]

SBA Report on PPP loans through May 8, 2020

The SBA has published statistics for PPP Loans approved from 4/27/2020 through 05/08/2020. Email us for a 6-page PDF of the report. Massachusetts had 56,506 loans approved at an average of $82,794 each. California had the most approved loans - 376,803 at an average of $95,016 while Florida had 222,570 at an average of $60,253. Second Round Approvals.     … [Read more...]