A second round of the Payment Protection Program took applications and made approvals from April 27th through May 1st. According to the US Small Business Administration, 2,211,791 loans were approved for a total of over $175 billion in the United States during this time frame. For the state of Illinois, 89,735 loans were approved for a total of $6,578,447,775.
The overall average loan size in the country was $79,000.
***Data courtesy of Brad Ray, President and CEO of Security Savings Bank***
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