Paycheck Protection Program (PPP) Report

BOSTON, MA – Today, the U.S. Small Business Administration announced that New England small businesses have seen $20,800,030,934 approved through the Paycheck Protection Program (PPP), with 106,662 small businesses receiving loan approvals. In Maine, 14,933 small businesses received loan funding totaling more than $1.9 billion.

“The Paycheck Protection Program (PPP) is saving millions of jobs and providing much-needed relief to help New England’s small businesses make it through this challenging time,” said Wendell G. Davis, SBA’s New England Regional Administrator. 

Nationally, there have been 1,661,367 approvals for $342,277,999,103 through 4,975 lenders.  This is more than 14 years’ worth of SBA loans processed in less than 14 days which will protect jobs across the country.  74% of these loans were for under $150,000, demonstrating the accessibility of this program to very small businesses.

The PPP provided funds to a wide variety of industries in all sectors of the economy, including construction, manufacturing, food and hospitality services, health care, agriculture, and retail, among many others. 

Click HERE to view the data.