CBA Statement on Latest PPP Numbers

Nick Simpson

CBA Statement on Latest PPP Numbers

Banks over $10B made majority of total loan volume, value

 

WASHINGTON – Consumer Bankers Association President and CEO released the following statement after the Small Business Administration announced the latest Paycheck Protection Program loan totals:

 

“On behalf of the men and women who work at small businesses across the country in need, I am proud to say banks in coordination with the Small Business Administration were able to make more than two decades worth of SBA loans in less than a month. It was a herculean effort which undoubtedly saved millions of jobs and the nation’s leading banks were gladly up to the task.

 

“There were some hurdles along the way, but in the end, banks with assets greater than $10 billion invested heavily in ensuring this program was a success, making more than half of individual loans and more than two-thirds of the total loan dollar value during this second phase”

 

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About the Consumer Bankers Association:

The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers.