11,194 Vermont small businesses and nonprofits were approved for $1.17 billion of loans through the U.S. Small Business Administration’s Paycheck Protection Program as of May 23, 2020. The loans will be forgiven if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
Source: SBA “Paycheck Protection Program (PPP) Report: Second Round” and “Paycheck Protection Program (PPP) Report: First Round.” https://www.sba.gov/document/?program=PPP
