-->

U.S. Treasury data shows PPP loans have saved millions of jobs

Nearly $519 billion in PPP loans have been distributed since the start of the pandemic, recent data from the U.S. Treasury Department showing that over 50 million U.S. jobs were saved that otherwise may have been eliminated without the PPP.

After billions in U.S. money was distributed to businesses in every state, a question being asked is was all that funding effective?

 According to recent data released by the U.S. Treasury Department, the answer is yes.

Data collected by the department shows that thousands, hundreds of thousands and even millions of jobs have been saved in each state.

With unemployment reaching significant highs in April of this year, we can only imagine how much worse things could have been if the PPP loans didn’t help retain American jobs during this economic crisis, business.org writes.

Over 50 million American jobs (50,679,396) have been preserved as a result of the over $519 billion in PPP loans given to small businesses.

A correlation was found in nearly every state that showed the more loan funding a state received, the more jobs were saved.

Below is the data provided for Kansas and Missouri.

 

Kansas

Loan Count: 51,872

Total Amount Funded: $4,996,112,228

Total Jobs Retained: 521,322

 

Missouri

Loan Count: 91,498

Total Amount Funded: $9,143,522,129

Total Jobs Retained: 936,019