PPP Loan Data: Cambridge, MA
Paycheck Protection Program statistics for the Cambridge metro area. 11,963 loans disbursed, 670 unforgiven and potentially subject to enforcement.
Medium Enforcement Risk5.5% of MA total
Avg: $126,018 per loan
$77M outstanding
94.4% forgiveness rate
PPP Program Overview: Cambridge, MA
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed approximately 11,963 Paycheck Protection Program loans in the Cambridge metropolitan area, totaling $1.5B. These loans supported approximately 115K jobs in the local economy during the COVID-19 pandemic.
Of these loans, 11,293 (94.4%) were fully forgiven. However, 670 loans totaling $77M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
Cambridge is part of Massachusetts, 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 Cambridge
Cambridge 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 Cambridge borrowers for several more years.
Cambridge vs. Massachusetts Average
Frequently Asked Questions: PPP in Cambridge
How many PPP loans were issued in Cambridge, MA?
Cambridge, Massachusetts received approximately 11,963 PPP loans totaling $1.5B between April 2020 and May 2021. The average loan size was $126,018, supporting approximately 115K jobs in the Cambridge metro area.
How many PPP loans in Cambridge were not forgiven?
Approximately 670 PPP loans in the Cambridge metro area (5.6% of total) were not forgiven, representing $77M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP enforcement risk in Cambridge?
Cambridge is in a "Medium" enforcement risk area. The DOJ PPP Strike Force and SBA OIG maintain active investigations in major metro areas. Borrowers in Cambridge with unforgiven loans or application discrepancies should be aware of ongoing enforcement activity through 2030-2031.
Can I still face a PPP audit in Cambridge 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. Cambridge borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
670 Cambridge area borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
Other Cities in Massachusetts
View all Massachusetts 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.