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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.
The COVID-19 pandemic walloped businesses, small and large. Staying afloat was a monumental challenge, in many cases zapping creativity, vision and savings accounts.
For entrepreneurs, staying in the fight meant finding new paths to success and for some, it meant leveraging social media platforms like never before.
That was the case for three business owners participating in Small Business Happy Hour to be hosted by the Savannah Morning News on Wednesday at 6 p.m. on Instagram live @savannahnow.
Elbi Elm, founder and CEO of The Culturist Union; Jared Alexander, chef of the Eden Supper Club; and Elondia Harden, founder of ElonWick Candles Co., will take part in a live Q&A on Instagram.