The Beacon
BY U.S. REP. BOB LATTA
As we begin a new year, citizens, workers, and small businesses in Ohio still need relief from the ongoing COVID-19 pandemic.
Small businesses in Ohio’s Fifth Congressional District have faced many challenges throughout the COVID-19 pandemic. After speaking with restaurant owners, health care professionals, and others in Findlay, Cygnet, Stryker, Elmore, Maumee, Paulding, Napoleon, Van Wert, Genoa, and Wauseon, I learned that the Paycheck Protection Program (PPP), which was enacted through the CARES Act, has been a lifeline to small businesses and their employees in Ohio and across the country.
In the Fifth District alone, the PPP was used by more than 6,000 businesses and supported more than 122,000 jobs. Without PPP funding, many of these businesses would not have survived the COVID-19 pandemic.
Send The second round of the federally funded Paycheck Protection Program is prioritizing “underserved” businesses minority-, women- and veteran-owned and rural businesses by setting aside money for them and through targeted outreach efforts.
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More than $853 million in new PPP loans approved in Washington goldendalesentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from goldendalesentinel.com Daily Mail and Mail on Sunday newspapers.
As part of ongoing transparency of economic aid programs, the U.S. Small Business Administration (SBA) recently released data summarizing Paycheck Protection Program (PPP) loan approvals made through Jan. 24, 2021.
The SBA re-opened the PPP Jan. 11 with $284 billion appropriated through the Economic Aid Act. So far in this round of funding, 2,910 PPP loans valued at $229,004,064 million have been approved by the SBA in Mississippi.
In the SBA Southeast Region â which serves Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee â a total of over 53,000 PPP loans valued at more than $4 billion have been approved.
Nationally, more than 400,000 loans valued at more than $35 billion have been approved this round. Overall, the average loan size is $87,000. Accumulatively, all PPP loans approved in 2020 combined with this round total more than 5.5 million PPP loans totaling $557.8 billion.