Breakdown of PPP loans approved in the “First Round”…keep in mind that an average loan size of $206k equates to a payroll over $1 million as the formula excludes any individual earnings over $100k. Clearly the PPP was not going to “mom and pop” businesses.
Source: https://home.treasury.gov/system/files/136/SBA%20PPP%20Loan%20Report%20Deck.pdf
Did you break that down by state (i.e., $$ per population, $$ per loan?)?
How does VT get more than NV?! Look how few AZ got!
I guess PediaTrust really did win the lottery
This whole process was incredibly frustrating. We contacted our bank 3/31/20 about applying for the program. They kept saying we are getting the application ready, keep checking your portal.
Not until 4/9/20 did our portal link go live. We applied immediately (I mean dropped everything and sat and didn’t move until application was done). Next day got automatic (I’m guessing) request for more information which we provided. Heard nothing x 4 days until we see the loan is GONE from our portal. Just gone. We then quickly applied by email through the banker. Prob. too late. Supposedly went to SBA on 4/14/20 in the afternoon. No word yet. then, add on, all the “not so small” businesses that took home huge loans (many over the 10million max) is INFURIATING.
