SBA Report: $248B of PPP Funds Allocated as of April 13

As of April 13, the Small Business Administration has approved nearly 1.04 million loans totaling $248 billion through its Paycheck Protection Program, according to a report released by SBA. A total of 4,664 lenders were participating in the program at the time the report was issued.

PPP loans have been approved in all U.S. states and territories. Seventy percent of all loans made so far were for smaller amounts under $150,000. Overall, the average loan size was $239,152. About half of the funds allocated so far have gone to four sectors: construction; professional, scientific and technical services; manufacturing; and health care and social assistance