Puerto Rico — PPP Loan Data

Puerto Rico ranked among the states receiving PPP assistance during the COVID-19 pandemic. In total, the SBA approved 70,201 loans totaling $2.77B to businesses and organizations across the state. The average loan size was $39,521.

Of all approved loans, 68,677 — or 97.8% — received SBA forgiveness totaling $2.76B. 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 Puerto Rico were CARIBBEAN TEMPORARY SERVICES LLC ($10,000,000), SOUTH AMERICAN RESTAURANTS CORP. ($10,000,000), and GENESIS SECURITY SERVICES, INC. ($10,000,000).

Borrowers in Puerto Rico reported retaining 578,205 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 Puerto Rico by loan count was Offices of Physicians with 5,137 loans totaling $127.5M. This was followed by Accommodation and Food Services (3,854 loans).

The most active lender in Puerto Rico was BANCO POPULAR DE PUERTO RI, which originated 46,350 loans worth $1.72B. 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.