12,417 Vermont small businesses and nonprofits were approved for $1.2 billion of loans through the U.S. Small Business Administration’s Paycheck Protection Program as of August 8, 2020. Of this amount, there were 10,854 loans of $150,000 or less and 1,563 loans of between $150,000 and $10 million. The loans will be fully forgiven when used for up to 24 weeks of payroll costs and interest on mortgages, rent, and utilities.
Source: SBA Paycheck Protection Program Loan Level Data, https://home.treasury.gov/policy-issues/cares-act/assistance-for-small-businesses/sba-paycheck-protection-program-loan-level-data
Source: SBA Paycheck Protection Program Loan Level Data, https://home.treasury.gov/policy-issues/cares-act/assistance-for-small-businesses/sba-paycheck-protection-program-loan-level-data
Source: SBA “Paycheck Protection Program (PPP) Report: Second Round” and “Paycheck Protection Program (PPP) Report: First Round.” https://www.sba.gov/document/?program=PPP
