Widget Image
Follow PPD Social Media
Follow Us:
Tuesday, May 26, 2020
HomeNewsEconomySurvey: Majority of Small Businesses Received PPP Loans, More than Half Want Forgiveness

Survey: Majority of Small Businesses Received PPP Loans, More than Half Want Forgiveness

Closed small businesses for coronavirus (COVID-19) pandemic, closure sign on retail store window banner background. (Photo: AdobeStock)
Closed small businesses for coronavirus (COVID-19) pandemic, closure sign on retail store window banner background. (Photo: AdobeStock)
Closed small businesses for coronavirus (COVID-19) pandemic, closure sign on retail store window banner background. (Photo: AdobeStock)

Washington, D.C. (PPD) — The National Federation of Independent Business (NFIB) released a survey finding the vast majority of small businesses who applied for Paycheck Protection Program (PPP) loans received them.

A total 80% of members applied for a Paycheck Protection Program (PPP) loan and nearly 90% have received the loan. Most of the loans were deposited between mid-April and mid-May.

“Small businesses continue to face many challenges in operating their business in these difficult times,” said Holly Wade, NFIB Director of Research & Policy Analysis. “Congress and the Administration have the authority to further lighten the burden for many of their immediate concerns, especially in offering more flexibility for PPP loans.”

More than half (54%) of small business owners are expecting all of their expenses to be forgiven and 27% expect at least 75% or more of loan expenses to be.

The NFIB Small Business Optimism Index fell another 5.5 points to 90.9 in April. Small business optimism has fallen 13.6 points over the last two months. In March, optimism fell 8.1 points, the largest drop in the 46-year history of the survey.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial