Texas PPP loans top $41B
Texas has recorded another 175,418 approved Paycheck Protection Program (PPP) loans since the resumption of the program on Monday, April 27.
According to data released today by the U.S. Small Business Administration (SBA), the Texas total thus far in PPP Round Two has totaled $12,789,880,775. When combined with Round One figures, 310,155 approved loans have been made in Texas totaling $41,273,591,048 since April 3.
“These numbers are mindblowing, but it has happened because Texas banks— especially our community banks—have worked overtime to help small business owners across the state to save jobs,” said Texas Bankers Association President & CEO Chris Furlow. “Our Texas banks realize that for every small business loan they make, they are not just helping the owners, they are helping to save the livelihoods of that company’s employees, so the human and community impact is heartening.”
Approximately $135 billion in Round Two PPP funds remain available.