How many PPP loans have been approved?
January 19, 2021 | Release Number 21-11
WASHINGTON –Today, the U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the program’s re-opening on Monday, Jan.
How many PPP loans were disbursed?
Biden signs PPP Extension Act: ‘A bipartisan accomplishment’
On June 30, when Covid cases and unemployment had declined and vaccines were abundant, the federal government sent out $33 million in PPP loans to 62 businesses that reported they had a total of 4,469 employees.
Is there a Round 2 of PPP?
If you received a PPP loan in 2020, you may be eligible to apply for a second PPP loan if your business suffered a loss in revenue in 2020. … This means, like the first PPP loan, the second round of PPP loans will also be fully forgivable if you follow the forgiveness guidelines.
How many small businesses received PPP loans?
Conclusion. Overall, PPP loans appeared to reach about 76 percent of US small businesses and to have covered 97 percent of a 10-week period of their payrolls. In addition, PPP loans of $5.3 billion were provided to 335,982 businesses that we identified as likely having no employees.
Can you look up who received PPP?
If you’re looking to check who’s received EIDL grants, EIDL loans, or PPP loans, the SBA has made recipient data publicly available. … This information was outlined recently in the SBA Inspector General Identity Theft and Fraud Report.
Why has my PPP loan not been disbursed?
The lender must make a one-time, full disbursement of the PPP loan within 10 calendar days of the approval of the loan. … Loans for which funds have not been disbursed because a borrower has not submitted required loan documentation within 20 calendar days of loan approval shall be cancelled by the lender.
Is there a 4th round of PPP coming?
The SBA (Small Business Administration) isn’t planning another round of PPP (Paycheck Protection Program) loans. Still, other programs are available to help your business recoup revenue lost during the COVID-19 pandemic. … The SBA says those loans will continue to be funded.
Who is eligible for second round of PPP?
Eligibility requires a business to have 300 employees or fewer. Also, the business must have a 25% decrease in any quarter’s gross receipts from 2019 to 2020, which shows the company has experienced financial hardship. Gross receipts include all revenue, including interest and dividends.
Is there any more PPP money left?
As of 5/31/2021 the SBA has disbursed $800 billion of the $813.5 billion so far appropriated by Congress to this program. As of Round Three, $6 billion, or 2 percent of Round Three PPP funding, remain available to the program.