PPP Loan Data: Rhode Island
Paycheck Protection Program statistics for Rhode Island. 32,847 loans disbursed, 1,379 unforgiven and potentially subject to enforcement.
Standard Enforcement Risk0.3% of national total
Avg: $109,596 per loan
$151M outstanding
95.8% forgiveness rate
PPP Program Overview: Rhode Island
Between April 2020 and May 2021, the U.S. Small Business Administration disbursed 32,847 Paycheck Protection Program loans in Rhode Island, totaling $3.6B. These loans supported approximately 268K jobs across the state during the COVID-19 pandemic.
Of these loans, 31,468 (95.8%) were fully forgiven. However, 1,379 loans totaling $151M 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 Rhode Island
Rhode Island 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 Rhode Island borrowers for several more years. The 1,379 unforgiven loans in Rhode Island represent the most immediate enforcement targets.
Rhode Island vs. National Average
Frequently Asked Questions: PPP in Rhode Island
How many PPP loans were issued in Rhode Island?
Rhode Island received 32,847 PPP loans totaling $3.6B between April 2020 and May 2021. The average loan size was $109,596, supporting approximately 268K jobs.
How many PPP loans in Rhode Island were not forgiven?
Approximately 1,379 PPP loans in Rhode Island (4.2% of total) were not forgiven, representing $151M in outstanding obligations. These borrowers may face Treasury collection actions or SBA enforcement.
What is the PPP audit risk level in Rhode Island?
Rhode Island is classified as "Standard" enforcement risk. This state has standard-level PPP enforcement activity. Borrowers in Rhode Island 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 Rhode Island 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. Rhode Island borrowers remain at risk regardless of whether their loan was forgiven.
Are You at Risk?
1,379 Rhode Island 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.