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Information on the second round of SBA funding for the Paycheck Protection Program
Story Date: 5/5/2020
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Source: US Rep. David Rouzer (NC-7th), 5/4/20
The Small Business Administration has released a report with information on the second round of funding approved by Congress for the Paycheck Protection Program. Since Round Two of PPP loan processing began on April 27, 2.2 million loans have been made to small businesses, surpassing the total number of all loans made in the first round of processing. The total value of these 2.2 million loans is over $175 billion, with an average loan size of $79,000. More than 56,500 North Carolina businesses have received funding in this second round of loans, valued at over $4.27 billion. More information from SBA here.
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