Lender funds nearly 2,000 PPP loans, opens three branches during pandemic

Tampa-based Suncoast Credit Union’s average Paycheck Protection Program loan amount was $25,000.

By Business Observer Staff
| 11:34 a.m. July 14, 2020
| 0 Free Articles Remaining!

Courtesy. Suncoast Credit Union President and CEO Kevin Johnson.

Tampa Bay-Lakeland

TAMPA — Suncoast Credit Union has been busier than ever during the coronavirus pandemic, opening three new branches and funding more than 1,900 Paycheck Protection Program loans, totaling $49.5 million.

According to a press release, the majority of the Tampa-based lender’s PPP loans were made to small businesses. Its average loan size, as of June 30, was $25,000, while the national average was $49,487.