TAMPA, Fla. (WFLA) — More than $32 billion from the Paycheck Protection Program has been distributed in hopes of saving businesses and jobs across Florida, and a new analysis says millions of jobs in the Sunshine State have been saved by the federal loans.
Using data from the U.S. Small Business Administration and the Treasury Department, Business.org analyzed how each state was affected by the PPP loans given to their small businesses.
Florida had the fourth-highest amount granted through the PPP loans – after California, New York and Texas – as the state’s tourism industry essentially shuttered during peak season due to the spread of coronavirus cases.
However, the state had the third-highest number of jobs saved by the loans.
While millions across Florida struggled to file for unemployment benefits, more than 3,224,000 jobs were saved with the 393,028 loans that were dispersed among Florida businesses.
Florida had the highest loan approval rate at 96%, with more than 7,000 loans going to businesses in the Tampa Bay area.
Nationally, more than 50 million American jobs were preserved from more than $519 billion in PPP loans given to small businesses.
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