Nearly $3 billion in loans issued to Nebraska businesses through Paycheck Protection Program
U.S. Senator Deb Fischer (R-Neb.), a member of the Senate Commerce Committee, released the following statement on Friday, April 17, after the Small Business Administration (SBA) reported that small businesses in Nebraska have received nearly $3 billion in loans through the Paycheck Protection Program (PPP):
“This is encouraging news for our businesses and their employees. Many Nebraskans have strong relationships with their local community banks, and my staff has worked hard to spread the word about this program. These numbers make it clear that the PPP is working, and Congress must quickly secure additional funding for this critical relief program,” said Senator Fischer.
The Paycheck Protection Program, which was established by the CARES Act last month, provides forgivable loans to help businesses maintain their workforce during the COVID-19 crisis. As of April 16th, Nebraska has had 23,477 loans approved for a total of $2,998,890,489. This amount is enough to cover three-fourths of Nebraska’s eligible payrolls – the highest percentage in the nation, according to Bloomberg News.