Area businesses receive more than $123 million in PPP loans
Roughly 2,000 small businesses in Lowndes, Oktibbeha, Clay and Noxubee counties were approved for more than $123 million in federal loans through the U.S. Small Business Administration’s Paycheck Protection Program, according to an analysis of SBA data released Monday.
Based on the way the Small Business Administration characterized the data, the total of PPP loans given businesses in the four-county area could have totaled as much as $207 million.
The federal program is part of the Coronavirus Aid, Relief, and Economic Security Act passed by the U.S. Congress in March. PPP loans aim to help small businesses keep workers on their payroll during the COVID-19 crisis.