COVID Loan Tracker, a site launched on April 8th to help small business owners track the progress of PPP and EIDL advance applications, has received a surge of responses. 1,100 American small business owners have given us details of their applications.

If you have not already, please fill out the survey here.

https://www.covidloantracker.com/

The aim of COVID Loan Tracker is to let small business owners know when PPP loans really start flowing, and to empower journalists with the data they need to help keep the government accountable.

So far, just six companies out of 1,100 report receiving PPP Loans. Their details are below.

1. LLC, Colorado, 155 employees, applied 4/5, received 4/7, received $1.6m, applied through small/regional bank, received 100% requested
2. S-Corp, Oklahoma, 1 employee, applied 4/2, received 4/9, received $20,700, applied through small/regional bank, received 100% requested
3. LLC, Texas, 38 employees, applied 4/3, received 4/9, received $244,000, applied through small/regional bank, received 100% requested
4. LLC, Utah, 2 employees, applied 4/3, received 4/9, received $7,200, applied through small/regional bank, received 24% requested
5. S-Corp, Arkansas, applied 4/3, received 4/9, received $49,900, applied through small/regional bank, received 100% requested
6. C-Corp, Michigan, applied 4/3, received 4/8, received $250,000, applied through small/regional bank, received 100% requested

Average time between application and payment is 5.3 days.

General Data:

0.5% report receiving PPP Loans
>0.3% report receiving EIDL advances
15,000 employees reportedly at risk from responding companies
36% LLCs
31% S-corps
84% applied for >$250,000
12% for between $250,000 and $1,000,000
4% applied for $1m or more
49% applied through small/regional banks
17% applied through JP Morgan Chase