By Sahar Chmais
Hays County businesses received millions of dollars in funds from the Paycheck Protection Program (PPP), even though many businesses did not participate in it or found difficulty navigating the system. Now that PPP loans will be making a reappearance to aid more businesses through these financially difficult times, it is time to look over how some businesses in the county secured these funds for their businesses.
About 30%, or $284 billion, of the $900 billion of the COVID relief bill will be spent on the Paycheck Protection Program (PPP). The first round of PPP loans was nearly double the amount proposed in December’s bill. PPP has disclosed details on the business loans it gave, such as business names, loan size, lender name, how many jobs were saved and more. The Hays Free Press/News-Dispatch has analyzed some of the numbers so that Hays County businesses have an idea what to look forward to in the next wave of loans.
