8.3% of IA total
Avg: $83,199 per loan
$28M outstanding
95.4% forgiveness rate
PPP Program Overview: Cedar Rapids, IA
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed approximately 8,209 Paycheck Protection Program loans in the Cedar Rapids metropolitan area, totaling $683M. These loans supported approximately 65K jobs in the local economy during the COVID-19 pandemic.
Of these loans, 7,831 (95.4%) were fully forgiven. However, 378 loans totaling $28M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
Cedar Rapids is part of Iowa, which has a Standard 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 Cedar Rapids
Cedar Rapids has standard-level PPP enforcement activity. While enforcement is less concentrated here than in larger metros, the DOJ PPP Strike Force operates nationally. Any borrower with an unforgiven loan or application discrepancies remains at risk regardless of location.
The False Claims Act statute of limitations extends through 2030-2031 for PPP loans. This means new enforcement actions can still be initiated against Cedar Rapids borrowers for several more years.
Cedar Rapids vs. Iowa Average
Frequently Asked Questions: PPP in Cedar Rapids
How many PPP loans were issued in Cedar Rapids, IA?
Cedar Rapids, Iowa received approximately 8,209 PPP loans totaling $683M between April 2020 and May 2021. The average loan size was $83,199, supporting approximately 65K jobs in the Cedar Rapids metro area.
How many PPP loans in Cedar Rapids were not forgiven?
Approximately 378 PPP loans in the Cedar Rapids metro area (4.6% of total) were not forgiven, representing $28M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP enforcement risk in Cedar Rapids?
Cedar Rapids is in a "Standard" enforcement risk area. The DOJ PPP Strike Force and SBA OIG maintain active investigations in major metro areas. Borrowers in Cedar Rapids with unforgiven loans or application discrepancies should be aware of ongoing enforcement activity through 2030-2031.
Can I still face a PPP audit in Cedar Rapids 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. Cedar Rapids borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
378 Cedar Rapids area borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
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.