A new study looking at which U.S. locations received the most in loans from the Paycheck Protection Program found that Denton businesses received $1,544 in funds per capita.
In Denton, 97% of the combined $228.8 million in loans, aimed at helping businesses through the COVID-19 pandemic, have been forgiven, according to the analysis by Smartest Dollar. The PPP program allowed companies with fewer than 500 employees to apply for forgivable loans to help them retain staff and cover expenses during the economic downturn precipitated by stay-at-home orders and mandated closures. More than $800 billion in loans were distributed by the time the program ended in mid-2021, with median PPP loan amounts in Denton topping out at $20,800.
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Business Loans