Their research shows that in New York, for example, fewer than 20% of all small businesses in the state were approved for a loan during the Paycheck Protection Program's first round. But 55% of small businesses in Nebraska were approved. The relief program, part of the $2.
A separate report released last week by the non-profit Institute for Local Self-Reliance, also found that more loans were made in states where local community banks constitute a larger share of the market, like North Dakota. It found that nearly three times as many emergency loans were made per capita in the 10 states with most community banks per capita, compared to the 10 states with the fewest. The Small Business Administration gave out 1.
What's really amazing is the 'small businesses' that got the relief loans WERE LARGE COMPANIES NOT THE MOM AND POPS that are really struggling to stay afloat we need to know who the institutions in charge of disbursement are so we can hold them ACCOUNTABLE