PPP Loans Provide Huge Help to Small Businesses
More than 500 loans. More than $45M in funding for businesses. And, maybe most importantly, more than 8,500 employees benefited! These numbers represent US Eagle’s Paycheck Protection Program (PPP) Loan impact on our communities.
The PPP Loan is designed to provide a direct incentive for small businesses to keep their workers on the payroll. In less than a two-month period, US Eagle helped hundreds of small businesses and thousands of employees. Below are more numbers that tell the story of our impact:
- First loan approved 04/08/2020
- First loan funded 04/15/2020
- Total loans funded to date (i.e., Small Businesses helped) 507
- Estimate total number of jobs benefited 8,500+
- Total new dollars funded: $45,023,782
But numbers alone do not provide the full story. Each PPP Loan kept employees on a payroll, even when the business was not able to conduct business as usual. Each employee kept on a payroll was able to continue to provide for themselves and their families. Those people are part of our communities, and by helping their employers with PPP Loans, we hope we helped ease their anxiety and uncertainty.
Because at US Eagle, people mean more.
Because at US Eagle, people mean more.
