--- title: Here's a State-by-State Breakdown of PPP Funding — And How Far it Went description: 24% of small businesses in North Dakota got approved for a PPP loan, compared to 12% of small businesses in New York. What gives? authors: - name: Giulia Pines url: https://money.com/author/giulia-pines/ at_money_since: 2020 articles: 13 covers: - Loans - Business - Career Advice - Economy and Politics - Education - Personal Finance former_staff: true published: '2020-05-14T15:01:22.000Z' modified: '2024-05-08T05:30:43.000Z' section: Loans tags: - Apex74 - CARES act - coronavirus - covid-19 - News - PPP funding - Small Business - Unemployment word_count: 696 canonical: https://money.com/state-by-state-ppp-funding/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We may earn a fee if you click on the links below. Compensation does not determine ranking. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![States-Small-Business-Funding](https://img.money.com/2020/05/gettyimages-151814950.jpg) Paycheck Protection Program (PPP) funding has been flowing to New York, California, and other states weathering the lion’s share of the Coronavirus outbreaks. But small businesses in those states are having a much harder time accessing that money than other parts of the country. In large part, the PPP funding directed at each state closely mirrors its population. California, for example, got $66.6 million dollars, while Wyoming got just a little over $1 million, according to data from the Small Business Administration. Still, Wyoming has less than 70,000 small businesses in the entire state — and about 18% of them received PPP loans. In California, less than 11% of small businesses got PPP funds. Part of the blame lies on “bank heterogeneity,” or the extent to which banks vary in terms of size, customer base, and ability to be resilient during a crisis, says Christos Makridis, a researcher at the MIT Sloan School of Management. In major metro areas like New York City, where there seems to be a major bank branch on every corner, many small businesses were left high and dry as banks [prioritized applications](https://money.com/small-business-ppp-loans-round-two/) from companies like Shake Shack and Potbelly. And while community banks doled out much of the funds, that route was a lot easier for small businesses in states like North Dakota—24% of which got approved for PPP loans—than it was for states suffering from the highest infection rates. New York, for its part, only saw 11.15% of its small businesses approved, largely because there are so many of them. In fact, according to [a new study](https://www.nber.org/papers/w27095) co-authored by Makridis and a team of researchers at MIT and the University of Chicago, the pandemic's hardest-hit states are half as likely to obtain PPP funding compared to other areas. Small business owners tend to be less knowledgeable on how to navigate the loan processes, and are less likely to have established relationships with major banks, he says. If you have a working relationship with your bank and some knowledge of how to apply for a loan, you may have gotten through your paperwork faster, and are less likely to get bogged down in the details mid-pandemic. That probably made loan access harder for small businesses run by first-generation immigrant families, and other groups that make up the fabric of large U.S. cities. Policy makers didn’t have the time to identify the hardest hit regions and research the appropriate amount of money to throw at them," Makridis says. So, “Explicit targeting wasn’t really built in." In the coming weeks, these discrepancies may greatly affect small business owners’ ability to get back on their feet, rehire, and begin to contribute to a growing U.S. economy again. Here's a look at which states have received the most and least PPP funding so far, and the percentage of small businesses that got approved for loans in each state, as per [SBA data](https://advocacy.sba.gov/2019/04/24/2019-small-business-profiles-for-the-states-and-territories/). ## **The Ten States Getting the Most PPP Funding:** ### **California** $66,635,549,811 to 10.8% of small businesses ### **Texas** $41,273,591,048 to 11.5% of small businesses ### **New York** $37,953,606,512 to 11.15% of small businesses ### **Florida** $30,083,712,148 to 11% of small businesses ### **Illinois** $22,551,025,846 to 13% of small businesses ### **Pennsylvania** $21,077,446,319 to 12.8% of small businesses ### **Ohio** $18,821,736,236 to 12.5% of small businesses ### **New Jersey** $17,014,757,145 to 12.5% of small businesses ### **Michigan** $15,947,803,159 to 11.9% of small businesses ### **Massachusetts** $14,724,135,789 to 14.3% of small businesses ## **The Ten States Getting the Least PPP Funding:** ### **Wyoming** $1,032,846,961 to 17.8% of small businesses ### **Vermont** $1,191,982,096 to 13.8% of small businesses ### **Alaska** $1,260,627,749 to 12% of small businesses ### **Delaware** $1,456,696,786 to 12.2% of small businesses ### **South Dakota** $1,649,175,802 to 22% of small businesses ### **Montana** $1,747,560,402 to 17% of small businesses ### **North Dakota** $1,778,041,485 to 24% of small businesses ### **West Virginia** $1,811,401,827 to 13% of small businesses ### **Rhode Island** $1,886,188,480 to 14% of small businesses ### **New Mexico** $2,183,201,563 to 11.8% of small businesses A State-by-State Guide to Getting Pandemic Unemployment Assistance Benefits [What Is a Recession, and Are We in One? Money Asked 3 Economists to Weigh in](https://money.com/coronavirus-recession-vs-depression-economy/) [Most Job Search Requirements for Unemployment Benefits Are Waived. So Why Do State Websites Say Otherwise?](https://money.com/unemployment-benefits-job-search-requirements-coronavirus/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/state-by-state-ppp-funding/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Loans", "item": "https://money.com/loans/" }, { "@type": "ListItem", "position": 3, "name": "Small Business Loans", "item": "https://money.com/small-business-loans/" }, { "@type": "ListItem", "position": 4, "name": "Here's a State-by-State Breakdown of PPP Funding — And How Far it Went" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/state-by-state-ppp-funding/#webpage", "url": "https://money.com/state-by-state-ppp-funding/", "name": "Here's a State-by-State Breakdown of PPP Funding — And How Far it Went", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2020-05-14T15:01:22.000Z", "mainEntity": { "@id": "https://money.com/state-by-state-ppp-funding/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/state-by-state-ppp-funding/#breadcrumb" }, "dateModified": "2024-05-08T05:30:43.000Z" }, { "@type": "NewsArticle", "headline": "Here's a State-by-State Breakdown of PPP Funding — And How Far it Went", "articleSection": "Loans", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2020/05/gettyimages-151814950.jpg", "width": 2462, "height": 1642, "caption": "States-Small-Business-Funding" } ], "author": [ { "@type": "Person", "name": "Giulia Pines", "url": "https://money.com/author/giulia-pines/", "@id": "https://money.com/author/giulia-pines/#author" } ], "publisher": "https://money.com/#organization", "datePublished": "2020-05-14T15:01:22.000Z", "description": "24% of small businesses in North Dakota got approved for a PPP loan, compared to 12% of small businesses in New York. 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