Monday, the SBA released PPP loan data. Following is a statement from SBA Great Lakes Regional Administrator Rob Scott about the PPP resumption (this morning the SBA resumed accepting PPP loan applications and will through August 8, 2020, per the Paycheck Protection Program Extension Act), and recent numbers:

“More than 726,000 small businesses in the Great Lakes Region have been approved for more than $87 billion in PPP funds, preserving critical jobs and institutions across the six states. While the pandemic has greatly impacted our economy, in the true spirit of entrepreneurship, small businesses have shown they are resilient and stronger. With the Paycheck Protection Program Extension Act they now have an additional month to apply for and benefit from this forgivable loan program, giving them the financial relief they need to weather the pandemic and their employees some additional peace of mind that they will continue to get paid.” 

Some distinct items to note re: the data release:

• Paycheck Protection Program Loans of $150,000 and more: data for all 56 states and territories in a single CSV file.
• Paycheck Protection Program Loans less than $150,000 (links to each state’s data):
• Illinois
• Indiana
• Michigan
• Minnesota
• Ohio
• Wisconsin 

Also, the updated Paycheck Protection Program Report showed as of June 30, approximately 4.9 million PPP loans have been approved nationally and approximately $131 billion remained available (when accounting for statutory program costs). To note in this report are the PPP Approval by State as Percent of Small Business Payroll (page 6); overall in the region, 81% to 90% of estimated small business payroll was covered by PPP loans. Great Lakes Region state and total PPP loan data is below, showing more than 726,000 small businesses and non-profits in the six states have been approved for PPP loans. This is an increase of more than 11,000 over the June 27, 2020, approvals for the region.