50.9% of AZ total
Avg: $111,674 per loan
$442M outstanding
94.9% forgiveness rate
PPP Program Overview: Phoenix, AZ
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed approximately 86,109 Paycheck Protection Program loans in the Phoenix metropolitan area, totaling $9.6B. These loans supported approximately 804K jobs in the local economy during the COVID-19 pandemic.
Of these loans, 81,717 (94.9%) were fully forgiven. However, 4,392 loans totaling $442M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
Phoenix is part of Arizona, which has a Medium enforcement risk classification. The DOJ PPP Strike Force operates nationally, with particular focus on major metropolitan areas where loan volumes and dollar amounts are highest.
Enforcement Risk in Phoenix
Phoenix has moderate PPP enforcement activity. While not among the highest-priority metros, the DOJ and SBA OIG maintain active investigations in this area. Borrowers with loans over $150,000 or those with discrepancies in their applications should be particularly vigilant.
The False Claims Act statute of limitations extends through 2030-2031 for PPP loans. This means new enforcement actions can still be initiated against Phoenix borrowers for several more years.
Phoenix vs. Arizona Average
Frequently Asked Questions: PPP in Phoenix
How many PPP loans were issued in Phoenix, AZ?
Phoenix, Arizona received approximately 86,109 PPP loans totaling $9.6B between April 2020 and May 2021. The average loan size was $111,674, supporting approximately 804K jobs in the Phoenix metro area.
How many PPP loans in Phoenix were not forgiven?
Approximately 4,392 PPP loans in the Phoenix metro area (5.1% of total) were not forgiven, representing $442M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP enforcement risk in Phoenix?
Phoenix is in a "Medium" enforcement risk area. The DOJ PPP Strike Force and SBA OIG maintain active investigations in major metro areas. Borrowers in Phoenix with unforgiven loans or application discrepancies should be aware of ongoing enforcement activity through 2030-2031.
Can I still face a PPP audit in Phoenix in 2026?
Yes. The False Claims Act has a 6-10 year statute of limitations. Since PPP loans were issued in 2020-2021, enforcement actions can continue through 2030-2031. Phoenix borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
4,392 Phoenix area borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
Other Cities in Arizona
View all Arizona data →Data Sources: U.S. Small Business Administration PPP Data Reports, PandemicOversight.gov, U.S. Treasury Department. Metro-area estimates derived from state-level data with population-weighted distribution. Last updated May 2026.