CAPITAL PLUS FINANCIAL
PPP Lender · 395,359 loans · $6.21B total · 55 states served
CAPITAL PLUS FINANCIAL was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 395,359 PPP loans totaling $6.21B, representing approximately 3.45% of all loans nationwide.
CAPITAL PLUS FINANCIAL served borrowers across 55 states. The largest concentration of activity was in Illinois, where the lender originated 47,922 loans totaling $886.6M. Other states with significant activity included Georgia, California, Florida.
The average loan size for this lender was $15,716. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through CAPITAL PLUS FINANCIAL were: MILESTONE (IL) — $4,467,436; DURAID A. ZAIA (CA) — $2,371,480; HOPE INTERNATIONAL UNIVERSITY (CA) — $2,000,000; and CORNERSTONE FIRST MORTGAGE INC (CA) — $2,000,000.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Illinois | 47,922 | $886.6M | 78.8% |
| Georgia | 45,705 | $735.9M | 84.0% |
| California | 41,914 | $737.2M | 85.2% |
| Florida | 39,211 | $523.5M | 82.8% |
| Texas | 37,722 | $590.2M | 83.8% |
| Louisiana | 16,110 | $266.9M | 82.8% |
| Ohio | 15,934 | $256.0M | 79.9% |
| New York | 14,808 | $199.1M | 79.6% |
| Michigan | 12,981 | $206.4M | 77.8% |
| Tennessee | 8,616 | $132.4M | 83.3% |
| Nevada | 8,489 | $139.7M | 81.4% |
| Pennsylvania | 8,469 | $123.3M | 80.5% |
| Alabama | 8,125 | $127.1M | 82.3% |
| Indiana | 8,086 | $135.1M | 79.3% |
| North Carolina | 7,971 | $105.9M | 81.8% |
| Mississippi | 7,313 | $117.1M | 85.1% |
| Arizona | 7,231 | $108.4M | 82.9% |
| South Carolina | 7,157 | $107.2M | 82.0% |
| Maryland | 6,163 | $87.8M | 83.3% |
| New Jersey | 5,690 | $79.0M | 80.6% |
| Virginia | 4,564 | $58.3M | 82.2% |
| Missouri | 4,412 | $65.7M | 80.0% |
| Wisconsin | 3,603 | $59.7M | 75.5% |
| Minnesota | 3,383 | $53.6M | 79.2% |
| Massachusetts | 2,982 | $38.3M | 79.4% |
| Arkansas | 2,804 | $41.2M | 77.7% |
| Washington | 2,342 | $28.1M | 85.3% |
| Colorado | 2,149 | $27.0M | 82.9% |
| Kentucky | 1,711 | $21.2M | 81.6% |
| Oklahoma | 1,304 | $15.8M | 81.5% |
| Iowa | 1,273 | $20.3M | 71.9% |
| Oregon | 1,192 | $14.0M | 86.7% |
| Connecticut | 1,171 | $15.6M | 80.7% |
| District of Columbia | 1,125 | $16.9M | 78.0% |
| Delaware | 956 | $14.3M | 77.6% |
| Kansas | 889 | $11.1M | 82.9% |
| Utah | 630 | $7.0M | 82.7% |
| Nebraska | 463 | $5.3M | 84.9% |
| New Mexico | 453 | $4.8M | 80.4% |
| Rhode Island | 450 | $5.2M | 80.4% |
| Idaho | 318 | $3.3M | 89.3% |
| Hawaii | 312 | $3.4M | 87.8% |
| West Virginia | 270 | $3.1M | 79.3% |
| New Hampshire | 178 | $2.1M | 85.4% |
| Maine | 159 | $1.6M | 83.0% |
| North Dakota | 143 | $2.1M | 86.0% |
| Montana | 135 | $1.6M | 85.9% |
| Alaska | 112 | $1.3M | 83.9% |
| South Dakota | 100 | $1.4M | 73.0% |
| Wyoming | 84 | $4.2M | 85.7% |
| Vermont | 54 | $488,827 | 85.2% |
| Puerto Rico | 10 | $122,443 | 100.0% |
| U.S. Virgin Islands | 5 | $58,229 | 100.0% |
| Northern Mariana Islands | 3 | $189,099 | 100.0% |
| Guam | 3 | $40,659 | 66.7% |