People also ask
How many PPP loans have been approved?
Currently, the total PPP loans approved is reported at nearly 8.9 million on FederalPay.org. The average company had a total of 10 employees and the average loan amount is $83,156.
What can I use PPP loan proceeds for?
In addition to payroll, rent, covered mortgage interest, and utilities, the Paycheck Protection Program will now let you use loan proceeds for: 1 The percentage of both first- and second-draw PPP loans that must be used for payroll expenses.
What is the third round of PPP loans?
A third round of Paycheck Protection Program (PPP) loans was authorized by the passage of H.R. 133: Consolidated Appropriations Act, 2021 into law on Dec. 27, 2020. Changes made by the Biden administration provide targeted assistance to very small businesses and previously underserved individuals.
How many businesses have received PPP loans related to coronavirus (covid-19)?
A total of 109,069 businesses across the United States have received Coronavirus-related Paycheck Protection Loans (PPP) loans from the Small Business Administration of the MAXIMUM available amount of $10,000,000 (ten million dollars).