JPMORGAN CHASE BANK
PPP Lender · 452,892 loans · $44.11B total · 54 states served
JPMORGAN CHASE 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 452,892 PPP loans totaling $44.11B, representing approximately 3.95% of all loans nationwide.
JPMORGAN CHASE BANK served borrowers across 54 states. The largest concentration of activity was in New York, where the lender originated 102,489 loans totaling $11.09B. Other states with significant activity included California, Texas, Illinois.
The average loan size for this lender was $97,400. 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 JPMORGAN CHASE BANK were: HOME HEALTH AGENCY - ARIZONA, LLC (AZ) — $10,000,000; MOUNTAIN PARK HEALTH CENTER (AZ) — $10,000,000; CLAY LACY AVIATION INC (CA) — $10,000,000; and ISLANDS RESTAURANTS, L.P. (CA) — $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 |
|---|---|---|---|
| New York | 102,489 | $11.09B | 96.7% |
| California | 97,450 | $8.86B | 96.6% |
| Texas | 47,970 | $4.31B | 96.1% |
| Illinois | 35,246 | $3.03B | 96.9% |
| Florida | 35,001 | $2.28B | 95.5% |
| New Jersey | 17,484 | $1.82B | 96.7% |
| Arizona | 17,185 | $1.66B | 96.4% |
| Michigan | 16,725 | $1.92B | 96.7% |
| Ohio | 12,382 | $1.50B | 96.6% |
| Colorado | 10,406 | $900.7M | 96.7% |
| Washington | 8,957 | $760.7M | 96.3% |
| Indiana | 7,924 | $865.4M | 97.1% |
| Louisiana | 7,376 | $856.2M | 96.4% |
| Georgia | 5,730 | $460.1M | 94.8% |
| Oregon | 5,255 | $460.7M | 96.9% |
| Nevada | 3,979 | $317.9M | 95.6% |
| Connecticut | 3,916 | $400.8M | 96.9% |
| Wisconsin | 3,591 | $530.8M | 97.2% |
| Utah | 3,589 | $398.3M | 95.8% |
| Kentucky | 2,305 | $295.9M | 96.4% |
| Oklahoma | 1,328 | $112.9M | 95.5% |
| Massachusetts | 1,188 | $252.2M | 98.1% |
| Pennsylvania | 796 | $171.8M | 95.9% |
| Idaho | 675 | $40.5M | 95.7% |
| West Virginia | 546 | $69.2M | 96.9% |
| Virginia | 442 | $101.0M | 96.2% |
| North Carolina | 417 | $75.2M | 97.1% |
| Maryland | 403 | $79.0M | 94.0% |
| Tennessee | 345 | $43.6M | 95.7% |
| District of Columbia | 273 | $67.8M | 94.1% |
| South Carolina | 233 | $23.9M | 95.3% |
| Minnesota | 180 | $129.4M | 92.8% |
| Delaware | 141 | $23.0M | 94.3% |
| Missouri | 124 | $25.1M | 97.6% |
| Wyoming | 112 | $8.8M | 97.3% |
| New Mexico | 80 | $10.8M | 97.5% |
| New Hampshire | 74 | $23.7M | 98.6% |
| Alabama | 71 | $13.1M | 91.5% |
| Iowa | 69 | $27.8M | 95.7% |
| Rhode Island | 63 | $17.6M | 100.0% |
| Kansas | 63 | $19.3M | 96.8% |
| Mississippi | 45 | $6.1M | 100.0% |
| Maine | 44 | $7.8M | 97.7% |
| Vermont | 43 | $8.2M | 97.7% |
| Hawaii | 43 | $18.8M | 95.3% |
| Montana | 40 | $1.6M | 97.5% |
| Arkansas | 39 | $8.5M | 89.7% |
| Nebraska | 24 | $13.1M | 95.8% |
| South Dakota | 9 | $135,144 | 100.0% |
| North Dakota | 9 | $1.8M | 88.9% |
| Alaska | 9 | $829,154 | 100.0% |
| Puerto Rico | 2 | $47,290 | 50.0% |
| U.S. Virgin Islands | 1 | $35,600 | 100.0% |
| AE | 1 | $3,462 | 0.0% |