Local businesses received $15.08 million in aid

 

January 14, 2021

Data courtesy of covidbailouttracker.com

The chart above shows how much funding Petersburg received in the federal loans through the CARES Act when compared to other communities in the region and the state as a whole.

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...



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