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Nearly 2,000 Paycheck Protection Program loans were approved in Effingham County since the launch of the federal program last year. According to data released by the U.S. Small Business Association, 1,194 loans totaling $50,409,351 went to businesses across the county since last year.
Initially included in the Coronavirus Aid, Relief, and Economic Security Act, the program ended on May 31 after several extensions. The funds were available to businesses and organizations that employ fewer than 500 people and could be used for rent, utilities, mortgage interest and payroll.
The top industries in Effingham that received loans include retail, healthcare and social assistance; construction and transportation and warehousing.
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