PPP Loan Data: Minnesota
Paycheck Protection Program statistics for Minnesota. 172,562 loans disbursed, 7,247 unforgiven and potentially subject to enforcement.
Standard Enforcement Risk1.5% of national total
Avg: $97,360 per loan
$706M outstanding
95.8% forgiveness rate
PPP Program Overview: Minnesota
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed 172,562 Paycheck Protection Program loans in Minnesota, totaling $16.8B. These loans supported approximately 1.4M jobs across the state during the COVID-19 pandemic.
Of these loans, 165,315 (95.8%) were fully forgiven. However, 7,247 loans totaling $706M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
This state has standard-level PPP enforcement activity.
Enforcement Risk in Minnesota
Minnesota has standard-level PPP enforcement activity. While enforcement is less concentrated here than in major metropolitan states, the DOJ PPP Strike Force operates nationally. Any borrower with an unforgiven loan or application discrepancies remains at risk regardless of geographic 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 Minnesota borrowers for several more years. The 7,247 unforgiven loans in Minnesota represent the most immediate enforcement targets.
Minnesota vs. National Average
Frequently Asked Questions: PPP in Minnesota
How many PPP loans were issued in Minnesota?
Minnesota received 172,562 PPP loans totaling $16.8B between April 2020 and May 2021. The average loan size was $97,360, supporting approximately 1.4M jobs.
How many PPP loans in Minnesota were not forgiven?
Approximately 7,247 PPP loans in Minnesota (4.2% of total) were not forgiven, representing $706M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP audit risk level in Minnesota?
Minnesota is classified as "Standard" enforcement risk. This state has standard-level PPP enforcement activity. Borrowers in Minnesota with unforgiven loans or discrepancies in their applications should be aware of ongoing DOJ and SBA OIG enforcement activity.
Can I still face a PPP audit in Minnesota 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. Minnesota borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
7,247 Minnesota borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
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Cities in Minnesota
Data Sources: U.S. Small Business Administration PPP Data Reports, PandemicOversight.gov, U.S. Treasury Department. Data reflects the full PPP program period (April 2020 – May 2021). Last updated May 2026.