Virginia banks of all sizes have processed 109,225 Paycheck Protection Program (PPP) applications totaling $12,611,135,107 as of June 30, according to the Small Business Administration (SBA). Virginia banks, through the PPP, have supported more than one million jobs.
In response to calls from Congress for greater transparency, the SBA this week posted data on all PPP loans, except those that were canceled. The data include city, state, number of employees who benefited, lender name and congressional district. Congress is expected to have access to the full data.