A total of 523 Clay County businesses and organizations received Paycheck Protection Program loans that they indicated would help retain 4,476 jobs, according to data from the U.S. Small Business Administration.
The U.S. Small Business Administration (SBA) and U.S. Treasury Department released the data on Monday for loans made under the Paycheck Protection Program (PPP).
The Signal has gathered data on the 523 PPP loan recipients in Spencer and throughout Clay County. That data is below. You can also view the data here.
The business and organization name for loans less than $150,000 were not disclosed by the SBA.
In total, 4.9 million PPP loans have been made to U.S. businesses.
“The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,” Secretary Steven T. Mnuchin said in a statement. “We are particularly pleased that 27% of the program’s reach in low and moderate income communities which is in proportion to percentage of population in these areas.
“The average loan size is approximately $100,000, demonstrating that the program is serving the smallest of businesses,” Mnuchin continued.
In Iowa, 58,466 loans were approved for a total amount of about $5.2 billion.
The SBA indicated there is about $132 billion in funding remaining.