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Less than 20 percent of small businesses in New York have been approved for Paycheck Protection Program loans, compared to greater percentages in states in the midwest and elsewhere, according to an analysis from two economists at the Federal Reserve Bank of New York.
The analysis was a nationwide snapshot of distribution of PPP loans, a centerpiece of the CARES Act coronavirus relief for small businesses. The report said that by contrast, more than 55 percent of small businesses in Nebraska were anticipating the receipt of PPP loans.
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Mike Scarcella
Mike Scarcella is a senior editor in Washington on ALM Media's regulatory desk. Contact him at [email protected]. On Twitter: @MikeScarcella. Mike works on a slate of newsletters: Supreme Court Brief | Higher Law | Compliance Hot Spots | Labor of Law.
