CHICAGO – The U.S. Small Business Administration released an updated Paycheck Protection Program Report with data through May 8 from the second round of PPP funding provided in the Paycheck Protection Program and Health Care Enhancement Act. In the Great Lakes Region, which includes Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin, more than $89 billion have been approved for small businesses and non-profit organizations.
Great Lakes Region state-specific PPP loan details for each round (round one as of April 16; round two and totals as of May 8, 2020) are:
|
State |
PPP Round 1 # |
PPP Round 1 $ |
PPP Round 2 # |
PPP Round 2 $ |
Total PPP # |
Total PPP $ |
|
IL |
69,893 |
$15,972,578,071 |
101,905 |
$6,973,556,382 |
171,798 |
$22,946,134,453 |
|
IN |
35,990 |
$7,491,445,351 |
35,624 |
$2,173,039,568 |
71,614 |
$9,664,484,919 |
|
MI |
43,438 |
$10,381,310,070 |
66,790 |
$5,822,149,865 |
110,228 |
$16,203,459,935 |
|
MN |
46,383 |
$9,014,060,040 |
42,863 |
$2,351,171,512 |
89,246 |
$11,365,231,552 |
|
OH |
59,800 |
$14,108,889,927 |
66,359 |
$4,945,138,628 |
126,159 |
$19,054,028,555 |
|
WI |
43,395 |
$8,317,705,842 |
34,118 |
$1,785,329,072 |
77,513 |
$10,103,034,914 |
|
REGION TOTAL |
298,899 |
$65,285,989,301 |
347,659 |
$24,050,385,027 |
646,558 |
$89,336,374,328 |
National summaries are posted more frequently, with the latest data available May 10 showing more than $120 billion in PPP funds still available for small businesses and non-profits impacted by the COVID-19 pandemic. Overall across the nation, more than 4.2 million PPP loans totaling approximately $530 billion have been approved.
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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.