Money for the $349 billion Paycheck Protection Program (PPP) has officially run out. And while business owners anxiously await congressional action on approving new funds, the U.S. Small Business Administration today offered new details on the number of businesses that have received funding, as well as the industries and locations that have gotten the most attention.
As of April 16, the SBA has approved 1,661,367 loans split among 4,975 lenders. The average size of an individual loan is $206,000 and roughly 74 percent of all loans were for $150,000 or less. Roughly 13 percent were between $150,000 and $350,000.
Here's a look at the industries and states that garnered the most PPP funds:
|Rank||Industry||Approved Loans||Approved Dollars||Approved Amount|
|2||Professional, Scientific, and Technical Services||208,360||$43.3 billion||12.7%|
|4||Health Care and Social Assistance||183,542||$39.9 billion||11.7%|
|5||Accommodation and Food Services||161,876||$30.5 billion||8.9%|
|6||Retail Trade||186,429||$29.4 billion||8.6%|
|7||Wholesale Trade||65,078||$19.5 billion||5.7%|
|8||Other Services (except Public Administration)||155,319||$17.7 billion||5.2%|
|9||Administrative and Support and Waste Management and Remediation Services||72,439||$15.3 billion||4.5%|
|10||Real Estate and Rental and Leasing||79,784||$10.7 billion||3.1%|
|Rank||State||Approved PPP Loan||Approved PPP Amount|
|3||New York||81,075||$20.3 billion|
|9||New Jersey||33,519||$9.5 billion|