There were 15,106 PPP loans issued in Texas during the week ending May 3 and the average loan amount was between $150,000 and $350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Apr 27 | Apr 28 | Apr 29 | Apr 30 | May 1 | May 2 | May 3 | |
|---|---|---|---|---|---|---|---|
| $5-10 million | 21 | 15 | 4 | 8 | 1 | 1 | 17 |
| $2-5 million | 97 | 64 | 36 | 30 | 20 | 1 | 35 |
| $1-2 million | 200 | 209 | 77 | 105 | 74 | 6 | 103 |
| $350,000-1 million | 884 | 996 | 417 | 371 | 598 | 32 | 626 |
| $150,000-350,000 | 1952 | 2373 | 1098 | 1114 | 1791 | 129 | 1601 |
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