Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
SBA fiscal year loan summary data
The Small Business Administration has released its Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act.
Loans guaranteed through traditional SBA lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the Agency. In FY20, the Paycheck Protection Program provided an additional 5.2 million loans worth more than $525 billion. The Agency’s Economic Injury Disaster Loan Program added another 3.6 million small business loans valued at $191 billion, as well as an additional 5.7 million EIDL Advances worth $20 billion.
Highlights from the Paycheck Protection Program:
- 27% of the PPP loan dollars were made in low-and moderate-income communities which is in proportion to the percentage of population in these areas
- More than $133 billion, or 25%, of PPP loans were approved for small businesses in historically underutilized business zones (HUBZones)
- Over $80 billion, or 15%, of total PPP dollars were approved to small businesses in rural communities