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Times-Republican Early in December, the United States Small Business Administration released all Payment Protection Program (PPP) loan data for loans less than $150,000. A total of $949,517.25 went to 277 Marshalltown employers in loans less than $150,000, while a total of $1,574,792.81 in funds went to 37 Marshalltown employers in loans more than $150,000. Funds from PPP loans have helped businesses keep their employees on payroll during the COVID-19 pandemic. The Small Business Administration will forgive loans if business’s meet employee retention criteria and funds are correctly used for eligible expenses. The funds must be spent within a 24-week period, and 60 percent of those funds must be spent on payroll while generally maintaining their usual employee count and payroll costs.

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