CUSTOMERS BANK
PPP Lender · 249,661 loans · $6.33B total · 54 states served
CUSTOMERS 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 249,661 PPP loans totaling $6.33B, representing approximately 2.18% of all loans nationwide.
CUSTOMERS BANK served borrowers across 54 states. The largest concentration of activity was in California, where the lender originated 63,804 loans totaling $1.73B. Other states with significant activity included Florida, New York, Texas.
The average loan size for this lender was $25,355. 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 CUSTOMERS BANK were: PAYLESS SHOESOURCE, LLC (KS) — $10,000,000; TRANSEL ELEVATOR & ELECTRIC INC (NY) — $9,848,266; FEGS HOME ATTENDANT SERVICES INC (NY) — $9,283,222; and PARKSIDE LENDING, LLC (CA) — $8,821,422.
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 |
|---|---|---|---|
| California | 63,804 | $1.73B | 87.3% |
| Florida | 25,553 | $503.8M | 84.8% |
| New York | 25,102 | $731.4M | 89.3% |
| Texas | 17,219 | $362.5M | 85.0% |
| Georgia | 13,852 | $327.0M | 84.4% |
| North Carolina | 12,264 | $250.9M | 82.0% |
| New Jersey | 9,020 | $329.4M | 89.5% |
| Illinois | 8,860 | $193.1M | 85.2% |
| Pennsylvania | 6,695 | $386.8M | 88.5% |
| Maryland | 4,695 | $117.2M | 87.1% |
| Virginia | 4,508 | $105.4M | 87.3% |
| Nevada | 4,269 | $90.7M | 81.5% |
| Ohio | 3,983 | $67.2M | 79.7% |
| Michigan | 3,771 | $83.3M | 82.1% |
| Massachusetts | 3,764 | $145.6M | 88.8% |
| Louisiana | 3,439 | $54.0M | 81.3% |
| Tennessee | 3,362 | $56.4M | 83.3% |
| South Carolina | 3,322 | $69.0M | 85.6% |
| Alabama | 2,910 | $58.5M | 81.2% |
| Arizona | 2,906 | $72.9M | 85.6% |
| Washington | 2,737 | $75.0M | 90.3% |
| Colorado | 2,520 | $57.7M | 88.3% |
| Indiana | 1,981 | $35.3M | 85.0% |
| Connecticut | 1,969 | $65.0M | 88.5% |
| Wisconsin | 1,752 | $32.2M | 87.5% |
| Mississippi | 1,750 | $30.6M | 80.8% |
| Oregon | 1,519 | $48.3M | 90.0% |
| Missouri | 1,320 | $23.8M | 82.8% |
| Minnesota | 1,202 | $20.8M | 87.8% |
| Kentucky | 981 | $14.3M | 81.5% |
| Oklahoma | 863 | $14.6M | 78.9% |
| Arkansas | 810 | $10.7M | 77.9% |
| Utah | 751 | $21.0M | 87.6% |
| District of Columbia | 739 | $21.0M | 85.9% |
| Kansas | 628 | $20.6M | 83.6% |
| Rhode Island | 600 | $17.7M | 83.7% |
| Iowa | 567 | $9.3M | 84.7% |
| Delaware | 509 | $11.4M | 83.5% |
| New Mexico | 461 | $7.9M | 84.4% |
| Hawaii | 426 | $7.8M | 85.7% |
| Nebraska | 382 | $4.5M | 82.7% |
| New Hampshire | 302 | $13.3M | 83.8% |
| Idaho | 290 | $4.8M | 82.4% |
| West Virginia | 247 | $3.6M | 77.3% |
| Maine | 207 | $4.7M | 86.0% |
| South Dakota | 170 | $4.1M | 80.0% |
| Montana | 156 | $2.9M | 80.8% |
| Alaska | 146 | $2.3M | 86.3% |
| North Dakota | 135 | $2.0M | 78.5% |
| Vermont | 122 | $3.0M | 86.1% |
| Wyoming | 110 | $5.4M | 81.8% |
| Puerto Rico | 6 | $560,924 | 83.3% |
| Guam | 3 | $34,615 | 100.0% |
| U.S. Virgin Islands | 2 | $17,172 | 100.0% |