Local businesses received $15.08 million in aid
January 14, 2021
In the first round of COVID-19 aid released through the Coronavirus Aid, Relief and Economic Security Act, Petersburg received $15.08 million in bailout funds from the federal government.
Funds were released through the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL). A little over 270 Petersburg businesses received a total of $8.46 million in PPP loans, while 268 local businesses received a combined $6.61 million through EIDL, according to covidbailouttracker.com.
The PPP loans were forgiven if borrowers spent the money on certain expenses, like payroll costs...