President Trump’s Paycheck Protection Program Is Supporting Tens of Millions of Jobs Across the Country

Payment Protection Program Saved 51 Million Jobs

Posted on Jul 8, 2020
By American Herald Staff

Through the Paycheck Protection Program (PPP), President Trump and his administration have kept our workforce strong during the COVID-19 pandemic. The forgivable loans provide small businesses the vital funding they need to stay open and keep employees on the payroll.

With the rollout of this program, nearly 5 million loans have been approved totaling approximately $520 billion. Access to capital has supported 51 million jobs:

  • 5 million jobs in Texas
  • 2 million jobs in Florida
  • 8 million jobs in Pennsylvania
  • 9 million jobs in Ohio
  • 6 million jobs in Michigan
  • 5 million jobs in Georgia
  • 2 million jobs in North Carolina.

The jobs supported through PPP loans have accounted for 84 percent of small business employees across the country.

With two-thirds of the loans being for $50,000 or less, it’s evident this program is helping lift up businesses that need it most.

Moreover, $117 billion in loans has been for businesses in Historically Underutilized Business zones supporting 13 million jobs. Nearly $80 billion in loans went to rural communities, supporting 12 million jobs.

Throughout COVID-19, President Trump has prioritized the health and safety of Americans while ensuring our businesses are there for the reopening of the economy.