PPP Loan Data: Raleigh, NC
Paycheck Protection Program statistics for the Raleigh metro area. 43,485 loans disbursed, 2,218 unforgiven and potentially subject to enforcement.
Medium Enforcement Risk16.2% of NC total
Avg: $86,330 per loan
$173M outstanding
94.9% forgiveness rate
PPP Program Overview: Raleigh, NC
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed approximately 43,485 Paycheck Protection Program loans in the Raleigh metropolitan area, totaling $3.8B. These loans supported approximately 327K jobs in the local economy during the COVID-19 pandemic.
Of these loans, 41,267 (94.9%) were fully forgiven. However, 2,218 loans totaling $173M remain unforgiven and are potentially subject to SBA collection, Treasury offset, or DOJ enforcement action.
Raleigh is part of North Carolina, 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 Raleigh
Raleigh 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 Raleigh borrowers for several more years.
Raleigh vs. North Carolina Average
Frequently Asked Questions: PPP in Raleigh
How many PPP loans were issued in Raleigh, NC?
Raleigh, North Carolina received approximately 43,485 PPP loans totaling $3.8B between April 2020 and May 2021. The average loan size was $86,330, supporting approximately 327K jobs in the Raleigh metro area.
How many PPP loans in Raleigh were not forgiven?
Approximately 2,218 PPP loans in the Raleigh metro area (5.1% of total) were not forgiven, representing $173M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP enforcement risk in Raleigh?
Raleigh is in a "Medium" enforcement risk area. The DOJ PPP Strike Force and SBA OIG maintain active investigations in major metro areas. Borrowers in Raleigh with unforgiven loans or application discrepancies should be aware of ongoing enforcement activity through 2030-2031.
Can I still face a PPP audit in Raleigh 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. Raleigh borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
2,218 Raleigh area borrowers have unforgiven PPP loans. Find out your specific risk level in under 3 minutes.
Other Cities in North Carolina
View all North Carolina 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.