July 6, 2020 / 4:13 PM / a month ago

FACTBOX-Highlights from U.S. government data on pandemic aid

    NEW YORK, July 6 (Reuters) - The Trump administration on Monday released the names of
hundreds of thousands of businesses which took money from a high-profile $660 billion pandemic
aid program, letting the public see for the first time how the majority of the cash was spent
and whether it helped save jobs.
    Below are a few highlights from an accompanying presentation released by the government on
the Paycheck Protection Program.
    
    - About 4.9 million loans worth $521.48 billion were issued. Of that, 1.7 percent of the
loans made were worth more than $1 million, accounting for 34.8 percent of total money that was
lent.
    - California, Texas and New York approved the largest amounts of loans from the pandemic aid
program respectively. California approved $68.2 billion worth of loans, Texas issued $41.1
billion and New York stood at $38.3 billion.
    - Loans issued to businesses in rural and economically distressed areas as defined by the
government accounted for about 38 percent of total money lent.
    - JPMorgan Chase Bank, Bank of America, Truist Bank, PNC Bank and Wells Fargo Bank were the
top issuers of the pandemic aid loans as of the end of June. See below for a table of the top
issuers of pandemic aid loans.
    - Close to $131.9 billion of the funding remained unspent as of June 30. 
    
    
 Rank     Lender Name     Loan Count       Net Dollars      Average Loan Size     % of Total
                                                                                   Authority
  1    JPMorgan Chase         269,424     $29,066,127,405            $107,882             4.40%
       Bank                                                                     
  2    Bank of America        334,761     $25,203,076,316             $75,287             3.80%
  3    Truist Bank             78,669     $13,075,965,877            $166,215             2.00%
  4    PNC Bank                72,908     $13,038,347,212            $178,833             2.00%
  5    Wells Fargo Bank       185,598     $10,470,396,296             $56,414             1.60%
  6    TD Bank                 82,773      $8,468,624,019            $102,311             1.30%
  7    KeyBank                 41,487      $8,138,794,697            $196,177             1.20%
  8    U.S. Bank              101,377      $7,444,906,047             $73,438             1.10%
  9    Zions Bank              46,707      $6,941,735,934            $148,623             1.10%
  10   M&T Bank                34,680      $6,791,223,167            $195,825             1.00%
  11   Huntington Bank         37,122      $6,528,043,675            $175,854             1.00%
  12   Fifth Third Bank        38,197      $5,434,319,532            $142,271             0.80%
  13   Cross River Bank       134,472      $5,361,597,126             $39,871             0.80%
  14   Citizens Bank           49,670      $5,007,022,864            $100,806             0.80%
  15   BMO Harris Bank         21,362      $4,815,533,089            $225,425             0.70%
    

    
 (Reporting by Chris Prentice in WASHINGTON and Koh Gui Qing in NEW YORK
Editing by Nick Zieminski)
  
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