NAVY FCU
PPP Lender · 10,723 loans · $239.4M total · 55 states served
NAVY FCU 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 10,723 PPP loans totaling $239.4M, representing approximately 0.09% of all loans nationwide.
NAVY FCU served borrowers across 55 states. The largest concentration of activity was in Virginia, where the lender originated 2,267 loans totaling $73.6M. Other states with significant activity included Florida, California, Georgia.
The average loan size for this lender was $22,327. 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 NAVY FCU were: RISK MITIGATION CONSULTING, INC (FL) — $1,875,000; POTOMAC HEALTHCARE SOLUTIONS, LLC (VA) — $1,599,500; GREATER LOVE HOME HEALTH CARE, INC (PA) — $1,570,200; and WYETECH, LLC (MD) — $1,181,500.
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 |
|---|---|---|---|
| Virginia | 2,267 | $73.6M | 93.9% |
| Florida | 1,384 | $29.5M | 90.8% |
| California | 1,167 | $30.4M | 93.8% |
| Georgia | 1,110 | $15.8M | 87.8% |
| Maryland | 933 | $21.7M | 92.0% |
| Texas | 842 | $13.9M | 88.7% |
| North Carolina | 375 | $8.2M | 87.5% |
| South Carolina | 329 | $5.8M | 87.8% |
| Washington | 164 | $3.7M | 91.5% |
| Arizona | 155 | $2.8M | 92.3% |
| Louisiana | 154 | $1.9M | 87.0% |
| Colorado | 149 | $3.2M | 94.0% |
| Nevada | 144 | $3.8M | 91.0% |
| Tennessee | 141 | $1.6M | 85.8% |
| District of Columbia | 116 | $2.1M | 93.1% |
| Pennsylvania | 115 | $3.5M | 91.3% |
| New York | 112 | $2.0M | 87.5% |
| Alabama | 112 | $1.6M | 91.1% |
| New Jersey | 110 | $1.5M | 90.9% |
| Illinois | 103 | $1.2M | 91.3% |
| Ohio | 89 | $1.3M | 87.6% |
| Missouri | 69 | $1.3M | 88.4% |
| Mississippi | 66 | $723,844 | 84.8% |
| Hawaii | 56 | $984,347 | 96.4% |
| Connecticut | 46 | $646,238 | 95.7% |
| Oklahoma | 43 | $773,499 | 83.7% |
| Michigan | 41 | $500,203 | 85.4% |
| Massachusetts | 35 | $513,508 | 91.4% |
| Oregon | 28 | $856,667 | 92.9% |
| Indiana | 28 | $312,423 | 82.1% |
| Minnesota | 23 | $441,431 | 95.7% |
| Kentucky | 21 | $277,356 | 90.5% |
| New Mexico | 20 | $574,279 | 85.0% |
| Kansas | 19 | $232,823 | 84.2% |
| Delaware | 17 | $303,086 | 76.5% |
| Arkansas | 17 | $133,473 | 64.7% |
| Wisconsin | 13 | $109,008 | 92.3% |
| Maine | 13 | $248,759 | 92.3% |
| Rhode Island | 12 | $188,417 | 100.0% |
| Nebraska | 11 | $101,263 | 90.9% |
| West Virginia | 9 | $161,912 | 66.7% |
| Utah | 9 | $237,155 | 88.9% |
| New Hampshire | 8 | $78,730 | 100.0% |
| Wyoming | 7 | $106,675 | 100.0% |
| Puerto Rico | 7 | $55,827 | 71.4% |
| Iowa | 7 | $51,727 | 100.0% |
| South Dakota | 6 | $83,316 | 100.0% |
| Montana | 4 | $28,333 | 100.0% |
| Guam | 4 | $28,547 | 100.0% |
| U.S. Virgin Islands | 3 | $31,947 | 66.7% |
| Idaho | 3 | $10,910 | 100.0% |
| North Dakota | 2 | $38,863 | 100.0% |
| Alaska | 2 | $41,633 | 100.0% |
| AE | 2 | $40,525 | 100.0% |
| Vermont | 1 | $38,100 | 100.0% |