Small and Non-Banks Issue 20% of All PPP Loans in Round 2 So Far
Small banks with less than $1 billion in assets and non-banks have lent 21% of all Paycheck Protection Program (PPP) loans issued in round two of the program thus far.
That's according to recent data put out by the U.S. Small Business Administration (SBA) and Treasury Department, which provides a detailed look at how the first $175 billion of round two has been disbursed, as of May 1.
The total round will disburse $310 billion in PPP funds when it is complete, and follows an initial round that disbursed roughly $350 billion in just two weeks.
Source Fool.com
