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February 9, 2025
Arisenews 24
African NewsHealthNewsPolitics

COVID-19: A PUBLIC HEALTH CRISISMILLIONS OF US BUSINESSES TAKE RELIEF LOANS

 

In the US, about 2.2 million small business loans worth $175bn ​ have been taken out since 27th of ​ April, through a government coronavirus relief package.

Officials said on Sunday that the average size of each Payroll Protection Program loan was $79,000, indicating that “the smallest of small businesses” are using the scheme.

The programme is designed to help businesses pay employees and stay afloat as Covid-19 restrictions across the US take their toll.

Nearly four million loans have been processed since the programme was rolled out last month.

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