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PPP loan forgiveness: How do the top lenders compare?

Loans are forgivable (they don’t need to be repaid) if a borrower meets certain requirements, such as using at least 60% of the loan for payroll costs. Given the average PPP loan amount is $59,000, forgiveness can be financially significant to a borrower.

Did disadvantaged individuals benefit from paycheck protection loans?

The Paycheck Protection Program (PPP) was a new Small Business Administration (SBA) loan program created by the CARES Act to help small businesses keep their workers on payroll. The program provided a total of $798.7 billion to 11.7 million businesses, keeping around 90 million jobs on payroll.

Two weeks. Under 20 employees. How many businesses got paycheck protection program loans?

Between February 24 and March 9, 2021, only small businesses and non-profits with fewer than twenty employees could apply for Paycheck Protection Program (PPP) loans. Our data shows more than 436,438 loans totaling $13.8 billion were approved during that two-week window.