Hope you had a great holiday weekend! A few items related to the Paycheck Protection Program have been updated, including two additional interim final rules and new loan data. The interim final rules issued May 22 include details on loan forgiveness and another on SBA loan review procedures and related borrower and lender responsibilities. A May 23 Paycheck Protection Program Report has updated total PPP loan details. Again, the report reflects PPP loan cancellations due to duplicative loans, loans not closed, and loans paid off in response to the safe harbor implemented that allowed businesses with adequate sources of liquidity to repay the PPP loan, and reveals additional funds available when compared to the May 16 report.
As of May 23, approximately 4.4 million PPP loans have been approved nationally and approximately $137 billion remains available. Great Lakes Region state and total PPP loan data is below, showing more than 668,000 small businesses and non-profits in the six states have been approved for the loans. We still do not have specific loan recipient data, as the agency remains focused on our response efforts and getting the PPP loans approved. If you have made a FOIA request, per the SBA’s FOIA site, the agency recognizes the need to balance the interests of transparency with the privacy and confidentiality issues release of loan information raises. In the near future, the SBA will be able to provide loan-specific data to the public and we will update you accordingly when that is available.
|
State |
Total PPP # as of 5/23 |
Total PPP $ as of 5/23 |
|
IL |
181,102 |
$22,075,994,303 |
|
IN |
73,430 |
$9,379,164,461 |
|
MI |
113,067 |
$15,714,549,484 |
|
MN |
91,529 |
$11,005,653,766 |
|
OH |
129,626 |
$18,150,438,777 |
|
WI |
79,736 |
$9,767,111,608 |
|
REGION TOTAL |
668,490 |
$86,092,912,399 |
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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
For detailed information on SBA programs for the coronavirus, visit www.sba.gov/coronavirusrelief and for information on all federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/coronavirus (en Español).
