Here’s where the first round of Small Business Administration loans went
WASHINGTON—Most of the federally guaranteed small business loans approved so far are for less than $350,000, with the construction industry the biggest beneficiary, according to data released by the Small Business Administration.
Through Monday, more than 85% of approved loans were for amounts smaller than $350,000, with loans of that size accounting for 29% of all approved funds, the SBA said this week. More than 3,000 companies received loans of $5 million or more—accounting for 9.2% of dollars loaned so far.
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