California receives most PPP loans in Second Round

California receives most PPP loans in Second Round

California receives most PPP loans in Second Round
Reading Time: < 1 minute(Last Updated On: May 26, 2020)

A recent report from the SBA indicates that, out of the 50 states, California has received the most PPP loan approvals throughout this second round of funding. As of May 16, 2020, California has been the site of more than $66 billion worth of PPP lending.

The SBA report also reveals that most of those loans actually came from smaller banks.

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