Many small businesses take advantage of PPP

Many small businesses take advantage of PPP

ST. PAUL, Minn. (KEYC) - More than half of Minnesota business owners have taken advantage of the Small Business Administration’s paycheck protection program during the pandemic.

In a Small Business Pulse Survey, the Minnesota Department of Employment and Economic Development reports 72% of Minnesota small business respondents said they received assistance from the Paycheck Protection Program, far surpassing any other financial assistance program in the state.

In the same survey, 69% of Minnesota small business respondents said the pandemic had a negative effect on their businesses to some extent, compared to 76% nationwide.

Copyright 2020 KEYC. All rights reserved.