How many PPP loans have been approved for Texas businesses so far?

FILE – In this April 2, 2020 file photo, a notice of closure is posted at The Great Frame Up in Grosse Pointe Woods, Mich. The government is closing in on…

FILE – In this April 2, 2020 file photo, a notice of closure is posted at The Great Frame Up in Grosse Pointe Woods, Mich. The government is closing in on the $349 billion lending limit on its Paycheck Protection Program that is sending relief money to the nation’s small businesses. The Small Business Administration says that it has approved more than 1.6 million loans worth more than $339 billion. The program will likely reach its ceiling Thursday, April 16. (AP Photo/Paul Sancya, File)

by: Will Anderson, Austin Business Journal

Posted: Apr 17, 2020 / 10:20 AM CDT

Updated: Apr 17, 2020 / 10:25 AM CDT

AUSTIN (AUSTIN BUSINESS JOURNAL) — As of April 13, 88,434 Paycheck Protection Program loans worth nearly $21.8 billion have been approved for Texas-based small businesses, according to U.S. Small Business Administration data.

Throughout the country, more than 1 million loans worth more than $247.5 billion had been approved as of April 13, according to the data obtained by Boston Business Journal. The SBA data, made public for the first time April 14, show the remarkable number of companies that applied for funding in the program’s first 11 days.

Texas had more loans approved through April 13 than any other state — about 11% of the nation’s total. California was No. 2 at 54,922 loans approved for nearly $20.9 billion.

Read the full story at the Austin Business Journal.