CITIZENS BANK
PPP Lender · 94,581 loans · $7.60B total · 52 states served
CITIZENS BANK 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 94,581 PPP loans totaling $7.60B, representing approximately 0.82% of all loans nationwide.
CITIZENS BANK served borrowers across 52 states. The largest concentration of activity was in Massachusetts, where the lender originated 22,103 loans totaling $2.04B. Other states with significant activity included Pennsylvania, New York, Rhode Island.
The average loan size for this lender was $80,395. 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 CITIZENS BANK were: ALVARADO CONCEPTS, LLC (CO) — $10,000,000; PROPARK INC (CT) — $10,000,000; DUFFY'S HOLDINGS, INC. (FL) — $10,000,000; and NATIONAL DCP, LLC (GA) — $10,000,000.
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 |
|---|---|---|---|
| Massachusetts | 22,103 | $2.04B | 95.9% |
| Pennsylvania | 20,150 | $1.60B | 95.3% |
| New York | 7,865 | $559.9M | 94.6% |
| Rhode Island | 7,647 | $528.2M | 96.2% |
| Michigan | 7,482 | $452.2M | 94.6% |
| Ohio | 7,144 | $401.2M | 94.3% |
| New Hampshire | 5,044 | $364.1M | 96.6% |
| Connecticut | 3,489 | $398.9M | 96.1% |
| Texas | 1,529 | $126.2M | 99.2% |
| New Jersey | 1,282 | $144.6M | 94.0% |
| Delaware | 1,263 | $90.8M | 93.9% |
| Tennessee | 1,225 | $84.0M | 99.8% |
| Oregon | 1,156 | $141.9M | 99.4% |
| Wisconsin | 912 | $69.6M | 99.8% |
| Missouri | 911 | $33.3M | 99.9% |
| Vermont | 864 | $47.9M | 97.7% |
| Mississippi | 757 | $26.0M | 99.3% |
| Kentucky | 496 | $12.2M | 100.0% |
| California | 431 | $61.8M | 97.0% |
| Florida | 381 | $53.4M | 97.1% |
| Georgia | 356 | $50.0M | 98.9% |
| Indiana | 350 | $42.1M | 98.9% |
| Alabama | 213 | $10.2M | 100.0% |
| Illinois | 195 | $30.0M | 97.9% |
| North Carolina | 194 | $26.3M | 98.5% |
| New Mexico | 178 | $8.4M | 100.0% |
| Maryland | 122 | $44.5M | 95.9% |
| Kansas | 112 | $3.7M | 100.0% |
| Virginia | 104 | $20.5M | 95.2% |
| Maine | 99 | $11.9M | 94.9% |
| South Carolina | 88 | $12.7M | 100.0% |
| Colorado | 75 | $33.8M | 92.0% |
| Utah | 64 | $3.8M | 98.4% |
| Louisiana | 47 | $4.3M | 100.0% |
| Washington | 46 | $18.6M | 100.0% |
| Arizona | 33 | $4.3M | 100.0% |
| Oklahoma | 32 | $6.6M | 93.8% |
| Nevada | 30 | $10.5M | 100.0% |
| Minnesota | 22 | $5.8M | 100.0% |
| District of Columbia | 15 | $5.0M | 93.3% |
| West Virginia | 11 | $557,069 | 100.0% |
| Iowa | 11 | $2.2M | 100.0% |
| Arkansas | 11 | $527,600 | 100.0% |
| Montana | 9 | $3.4M | 100.0% |
| Wyoming | 8 | $186,900 | 100.0% |
| Idaho | 8 | $718,680 | 100.0% |
| Nebraska | 5 | $55,664 | 100.0% |
| South Dakota | 4 | $437,686 | 100.0% |
| Hawaii | 3 | $28,567 | 100.0% |
| Puerto Rico | 2 | $563,800 | 100.0% |
| Alaska | 2 | $55,800 | 100.0% |
| North Dakota | 1 | $49,900 | 100.0% |