SANDY SPRING BANK
PPP Lender · 8,527 loans · $1.57B total · 28 states served
SANDY SPRING 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 8,527 PPP loans totaling $1.57B, representing approximately 0.07% of all loans nationwide.
SANDY SPRING BANK served borrowers across 28 states. The largest concentration of activity was in Maryland, where the lender originated 6,478 loans totaling $1.19B. Other states with significant activity included Virginia, District of Columbia, Pennsylvania.
The average loan size for this lender was $184,348. 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 SANDY SPRING BANK were: LEMEK LLC (MD) — $10,000,000; JAMES G DAVIS CONSTRUCTION CORPORATION (MD) — $8,307,000; APPLIED INFORMATION SCIENCES, INC. (VA) — $7,675,887; and COMPUTER WORLD SERVICES, CORP. (VA) — $6,130,740.
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 |
|---|---|---|---|
| Maryland | 6,478 | $1.19B | 98.8% |
| Virginia | 1,392 | $248.5M | 98.8% |
| District of Columbia | 513 | $104.4M | 98.8% |
| Pennsylvania | 36 | $3.0M | 100.0% |
| Florida | 31 | $9.3M | 100.0% |
| West Virginia | 10 | $3.8M | 100.0% |
| New Jersey | 9 | $574,649 | 100.0% |
| North Carolina | 9 | $1.5M | 100.0% |
| New York | 8 | $1.0M | 100.0% |
| Texas | 5 | $65,069 | 80.0% |
| Delaware | 5 | $905,849 | 100.0% |
| California | 5 | $150,856 | 100.0% |
| Georgia | 4 | $398,018 | 50.0% |
| Louisiana | 3 | $83,846 | 66.7% |
| Utah | 2 | $52,944 | 100.0% |
| Tennessee | 2 | $2.3M | 100.0% |
| Indiana | 2 | $30,340 | 100.0% |
| Illinois | 2 | $3.4M | 100.0% |
| Alaska | 2 | $23,316 | 100.0% |
| Wyoming | 1 | $143,236 | 100.0% |
| Vermont | 1 | $1.8M | 100.0% |
| Oregon | 1 | $151,535 | 100.0% |
| Ohio | 1 | $196,700 | 100.0% |
| Nevada | 1 | $22,689 | 100.0% |
| Missouri | 1 | $57,552 | 100.0% |
| Massachusetts | 1 | $615,500 | 100.0% |
| Kansas | 1 | $2.0M | 100.0% |
| Iowa | 1 | $46,431 | 100.0% |