Paycheck Protection Program Helps 7,125 Businesses and Saves 59,345 Jobs in Illinois’ 18th District
PEORIA, IL – According to data released publicly by the U.S. Small Business Administration (SBA), the Paycheck Protection Program has supported at least 7,125 businesses and helped keep 59,345 workers on the payroll in Illinois’ 18th District. The Paycheck Protection Program, supported by Congressman Darin LaHood (R-IL) and implemented in the Cares Act, helped support over 2.2 million jobs across Illinois.
“The Paycheck Protection Program has been an incredible lifeline for small businesses in Illinois and across the 18th District,” said Rep. LaHood. “Due to stay at home restrictions, many businesses were forced to temporarily shut their doors in recent months. Congress and the Trump Administration acted quickly to disperse funding through the Paycheck Protection Program to small businesses to ensure hard-working Americans stayed on the payroll during a difficult time. As our nation works to recover from COVID-19, I will continue to support policies that prioritize the needs of workers, small businesses, and healthcare professionals.”
The Paycheck Protection Program created under the CARES Act provides American small businesses with important access to forgivable loans for the purposes of paying employees’ wages, rent, and utilities. To learn more information about the program go here.