Companies in rural areas have received 15% of PPP funds

“The Paycheck Protection Program has been an overwhelming success. It has accomplished its mission of supporting urban and rural communities, which has saved thousands of main street businesses and hometown economies across the nation,” said Dan Nordberg, U.S. Small Business Administration’s director of rural affairs and region 8 administrator.

“Today’s release of localized PPP data demonstrates the SBA’s commitment to transparency while protecting the privacy and personal information of small businesses already dealing with unprecedented challenges. The SBA will continue using every available resource to help businesses recover and serve their communities.”

Here are some quick facts about the PPP (rounds one and two):

— The SBA has approved 4.9 million loans for a total of more than $521 billion.

— Data submitted by companies shows PPP loans supported more than 51 million jobs.

— Businesses in economically distressed areas as designated by the SBA got nearly 23% of PPP funds, while companies in rural areas received about 15%.

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