(WDTN) – Ohio businesses have received over $19 billion in Payroll Protection Program (PPP) loans from the U.S. Small Business Association (SBA) so far.
The SBA still has $120 billion available for small businesses at this time.
The loans are designed so that small businesses feel incentivized to keep employees on the payroll. The loan will be forgiven if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities.
According to the SBA just over 126,000 Ohio businesses received loans.
To apply for a PPP loan click here.