PPP Loan Data: New York
Paycheck Protection Program statistics for New York. 548,462 loans disbursed, 35,650 unforgiven and potentially subject to enforcement.
High Enforcement Risk4.8% of national total
Avg: $114,498 per loan
$4.1B outstanding
93.5% forgiveness rate
PPP Program Overview: New York
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed 548,462 Paycheck Protection Program loans in New York, totaling $62.8B. These loans supported approximately 4.8M jobs across the state during the COVID-19 pandemic.
Of these loans, 512,812 (93.5%) were fully forgiven. However, 35,650 loans totaling $4.1B remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
This state has above-average DOJ PPP enforcement activity and SBA OIG investigations.
Enforcement Risk in New York
New York is one of the highest-priority states for DOJ PPP enforcement. The combination of high loan volume, large average loan sizes, and active SBA OIG field offices makes borrowers in this state particularly vulnerable to audits, investigations, and False Claims Act actions. Multiple qui tam (whistleblower) cases have been filed in New York federal courts.
The False Claims Act statute of limitations extends through 2030-2031 for PPP loans. This means new enforcement actions can still be initiated against New York borrowers for several more years. The 35,650 unforgiven loans in New York represent the most immediate enforcement targets.
New York vs. National Average
Frequently Asked Questions: PPP in New York
How many PPP loans were issued in New York?
New York received 548,462 PPP loans totaling $62.8B between April 2020 and May 2021. The average loan size was $114,498, supporting approximately 4.8M jobs.
How many PPP loans in New York were not forgiven?
Approximately 35,650 PPP loans in New York (6.5% of total) were not forgiven, representing $4.1B in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP audit risk level in New York?
New York is classified as "High" enforcement risk. This state has above-average DOJ PPP enforcement activity and SBA OIG investigations. Borrowers in New York 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 New York 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. New York borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
35,650 New York borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
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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.