Federal Paycheck Protection Program ends after providing nearly $800 billion to small businesses and nonprofits

Jun 2, 2021 | 8:50 AM
The Paycheck Protection Program has provided over $798 billion in economic relief to small businesses and nonprofits across the United States to keep employees working and to help businesses come back stronger as the COVID-19 pandemic begins to slow down.
According to
SBA South Dakota District Director Jaime Wood, statewide participation in the 2021 PPP round nearly doubled that of the 2020 cycle.
“Nearly 41,000 PPP loans were approved in 2021 compared to 23,000 in 2020, demonstrating the residual economic impact as the pandemic progressed,” said Wood. “Since April 2020, PPP provided $2.7 billion of capital infusion to SD small businesses and non-profits.”
Wood added the program success is highly attributed to the strong small business ecosystem across the state including the close relationship SBA partner lenders have with small businesses.

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