Massachusetts — PPP Loan Data
217,221 approved loans · $21.08B total · 95.1% forgiven
Massachusetts ranked among the states receiving PPP assistance during the COVID-19 pandemic. In total, the SBA approved 217,221 loans totaling $21.08B to businesses and organizations across the state. The average loan size was $97,045.
Of all approved loans, 206,683 — or 95.1% — received SBA forgiveness totaling $20.61B. Forgiveness means the borrower was not required to repay that portion, having met the program's requirements for maintaining payroll and using funds for qualified expenses such as rent, utilities, and mortgage interest.
Among the largest recipients in Massachusetts were BEHAVIORAL HEALTH NETWORK INC. ($10,000,000), NEW ENGLAND AUTHENTIC EATS LLC ($10,000,000), and EAST BOSTON NEIGHBORHOOD HEALTH CENTER ($10,000,000).
Borrowers in Massachusetts reported retaining 2,101,585 jobs through the program, though job counts are self-reported and were not independently verified at the time of application. The state's businesses spanned a wide range of industries, from construction and hospitality to professional services and health care.
The most active industry in Massachusetts by loan count was Accommodation and Food Services with 14,393 loans totaling $1.91B. This was followed by Personal Care Services (9,733 loans).
The most active lender in Massachusetts was CITIZENS BANK, which originated 22,103 loans worth $2.04B. The top 10 lenders collectively handled a significant portion of the state's total loan volume, reflecting the role of large national banks as primary conduits for PPP funds.
Loans under $150,000 — which make up the majority of loan count — have borrower names withheld under FOIA Exemption 6. Only the approximately 0.0% of loans at or above that threshold have named recipients publicly disclosed.
Top Cities in Massachusetts
| City | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| BOSTON | 13,823 | $2.35B | 94.2% |
| WORCESTER | 4,830 | $449.5M | 91.9% |
| CAMBRIDGE | 3,993 | $439.4M | 95.0% |
| BROCKTON | 3,242 | $225.2M | 86.9% |
| SPRINGFIELD | 3,005 | $309.7M | 89.5% |
| LAWRENCE | 2,969 | $177.4M | 90.3% |
| QUINCY | 2,936 | $285.5M | 94.9% |
| LYNN | 2,674 | $130.9M | 90.7% |
| WALTHAM | 2,497 | $376.2M | 95.9% |
| DORCHESTER | 2,436 | $142.7M | 84.3% |
| FRAMINGHAM | 2,391 | $213.4M | 94.4% |
| WOBURN | 2,320 | $410.7M | 96.6% |
| LOWELL | 2,183 | $173.7M | 92.7% |
| NEW BEDFORD | 2,176 | $228.0M | 95.0% |
| SOMERVILLE | 2,020 | $204.7M | 94.8% |
| MALDEN | 1,930 | $105.9M | 91.6% |
| FALL RIVER | 1,912 | $210.3M | 92.6% |
| PLYMOUTH | 1,817 | $160.5M | 97.0% |
| NEWTON | 1,792 | $163.6M | 96.8% |
| PEABODY | 1,726 | $179.1M | 95.5% |
| BROOKLINE | 1,714 | $114.0M | 96.4% |
| SALEM | 1,631 | $126.1M | 96.1% |
| BEVERLY | 1,630 | $147.9M | 97.5% |
| BRAINTREE | 1,627 | $222.3M | 95.0% |
| REVERE | 1,604 | $59.7M | 90.9% |
Top Industries
| Industry | Loans | Total |
|---|---|---|
| Accommodation and Food Services | 14,393 | $1.91B |
| Personal Care Services | 9,733 | $274.2M |
| Taxi and Limousine Service | 8,655 | $122.0M |
| Management, Scientific, and Technical Consulting Services | 7,083 | $623.8M |
| Residential Building Construction | 6,909 | $340.0M |
| Legal Services | 6,169 | $418.3M |
| Building Equipment Contractors | 5,783 | $867.4M |
| Services to Buildings and Dwellings | 5,712 | $375.2M |
| Automotive Repair and Maintenance | 4,933 | $272.2M |
| Offices of Other Health Practitioners | 4,849 | $250.6M |
Top Lenders
| Lender | Loans | Total |
|---|---|---|
| CITIZENS BANK | 22,103 | $2.04B |
| BANK OF AMERICA | 18,623 | $1.72B |
| EASTERN BANK | 17,704 | $2.08B |
| ROCKLAND TRUST | 10,203 | $1.27B |
| TD BANK | 9,401 | $1.07B |
| SANTANDER BANK | 6,373 | $545.1M |
| HARVEST SMALL BUSINESS FINANCE | 5,170 | $82.7M |
| CROSS RIVER BANK | 4,866 | $126.9M |
| MANUFACTURERS AND TRADERS TRUST | 3,780 | $749.7M |
| CUSTOMERS BANK | 3,764 | $145.6M |
Largest Named Recipients in Massachusetts
Showing loans ≥ $150,000 with publicly disclosed borrower names.