Smaller lenders continue leading PPP lending

Insured depository institutions under $10 billion in assets in 2021 have approved more than 608,000 Paycheck Protection Program loans worth $39.4 billion, according to the latest SBA data. That is out of a total of 1.29 million loans worth $100.9 billion.

Of the 2021 PPP loan total, more than $93 billion has been approved for second-draw loans and more than $7.5 billion has gone to first-draw loans.