TRUIST BANK
PPP Lender · 117,956 loans · $16.21B total · 53 states served
TRUIST 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 117,956 PPP loans totaling $16.21B, representing approximately 1.03% of all loans nationwide.
TRUIST BANK served borrowers across 53 states. The largest concentration of activity was in Florida, where the lender originated 30,285 loans totaling $3.34B. Other states with significant activity included North Carolina, Georgia, Virginia.
The average loan size for this lender was $137,401. 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 TRUIST BANK were: YMCA OF SAN DIEGO COUNTY (CA) — $10,000,000; CAVA MEZZE GRILL, LLC (DC) — $10,000,000; THE BUDD GROUP (NC) — $10,000,000; and BODDIE-NOELL ENTERPRISES INC (NC) — $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 |
|---|---|---|---|
| Florida | 30,285 | $3.34B | 97.1% |
| North Carolina | 22,158 | $2.88B | 97.6% |
| Georgia | 15,633 | $2.26B | 96.9% |
| Virginia | 15,459 | $2.24B | 97.3% |
| Maryland | 8,533 | $1.44B | 97.7% |
| Pennsylvania | 5,475 | $756.3M | 98.2% |
| South Carolina | 5,410 | $642.4M | 97.5% |
| Tennessee | 4,340 | $565.8M | 97.7% |
| Texas | 2,856 | $507.3M | 96.3% |
| Kentucky | 1,749 | $251.3M | 96.3% |
| West Virginia | 1,482 | $244.0M | 97.6% |
| District of Columbia | 1,388 | $368.6M | 97.3% |
| Alabama | 1,266 | $147.5M | 95.7% |
| New Jersey | 963 | $193.4M | 97.7% |
| Ohio | 182 | $88.8M | 97.8% |
| New York | 115 | $51.1M | 96.5% |
| Indiana | 96 | $31.7M | 96.9% |
| California | 83 | $35.6M | 96.4% |
| Delaware | 62 | $9.2M | 87.1% |
| Mississippi | 53 | $6.9M | 98.1% |
| Massachusetts | 43 | $23.4M | 95.3% |
| Colorado | 39 | $18.6M | 82.1% |
| Connecticut | 29 | $16.8M | 96.6% |
| Michigan | 27 | $8.2M | 92.6% |
| Arkansas | 27 | $3.3M | 100.0% |
| Illinois | 21 | $7.2M | 95.2% |
| Louisiana | 20 | $5.5M | 100.0% |
| Arizona | 17 | $3.4M | 94.1% |
| Nevada | 16 | $1.9M | 93.8% |
| Washington | 14 | $7.5M | 78.6% |
| Missouri | 14 | $4.5M | 100.0% |
| Alaska | 12 | $13.3M | 100.0% |
| Wyoming | 9 | $910,684 | 88.9% |
| Oregon | 8 | $875,661 | 100.0% |
| Idaho | 8 | $3.0M | 100.0% |
| Wisconsin | 7 | $4.9M | 100.0% |
| Utah | 7 | $1.4M | 85.7% |
| Oklahoma | 6 | $1.0M | 83.3% |
| New Hampshire | 6 | $4.6M | 100.0% |
| Vermont | 4 | $1.8M | 100.0% |
| Minnesota | 4 | $300,307 | 75.0% |
| Hawaii | 4 | $12,768 | 100.0% |
| Rhode Island | 3 | $423,051 | 100.0% |
| New Mexico | 3 | $319,455 | 100.0% |
| Montana | 3 | $182,201 | 100.0% |
| Maine | 3 | $962,577 | 100.0% |
| U.S. Virgin Islands | 2 | $483,623 | 100.0% |
| South Dakota | 2 | $54,315 | 100.0% |
| Puerto Rico | 2 | $279,231 | 100.0% |
| Nebraska | 2 | $1.3M | 100.0% |
| North Dakota | 2 | $41,666 | 100.0% |
| Kansas | 2 | $2.8M | 100.0% |
| Iowa | 2 | $180,230 | 100.0% |