Over 112,000 8th District Jobs Retained Through PPP Loans
July 27, 2020
By Jessica Mathews / news@whmi.com
Livingston County’s Congresswoman says thousands of local jobs were able to be retained through the federal Paycheck Protection Program or PPP.
U.S. Representative Elissa Slotkin announced the PPP program helped 8th District businesses retain over 112,300 jobs. The estimates are based on data published by the Small Business Administration (SBA). A press release states that over 9,200 8th District businesses benefited from the program, with a total of over $800 (m) million dollars going to businesses in the district since the program was enacted in March. Data shows that the PPP helped retain 25,443 jobs in Livingston County, 43,878 in Ingham County and 43,054 in North Oakland County. A larger breakdown of local municipalities is available in the attached press release.
The Holly Democrat co-sponsored the bi-partisan PPP Flexibility Act, which was passed into law last month and made it easier for small businesses to access forgivable PPP loans.
Slotkin said Michigan businesses have shown tremendous fortitude during the crisis and these loans have been a lifeline for businesses – further encouraging every small business that hasn’t already to apply for a PPP loan before the August 8th deadline. Small business owners can learn more about the PPP by contacting their lender or by finding a PPP lender through the SBA website.