Digging into the PPP Loan Data

In his weekly Forbes column Ron Shevlin analyzes the loan data for the Paycheck Protection Program that was released by the SBA earlier this month; the most interesting part of the analysis was on what he calls loan performance aggregated by industry; he looked at number of jobs retained and the dollars per retained job; not surprisingly loans to hotel/food services companies performed best retaining 121 jobs per $1 million in loans or $8,273 per job; at the other end of the spectrum, loans to companies in the utilities, mining, professional services, and finance and insurance industries were the lowest performers, retaining just 51 jobs per $1 million or $19,000 per job; he also looked at loan performance by business type with non-profits performing best there and loan performance by financial institution with credit unions providing the best performance albeit with a very small piece of the total pie. Forbes.