Courtesy of Unsplash
Courtesy of Unsplash
The federal COVID-19 relief package has resulted in the approval of nearly $1.5 billion in funding for Montana businesses.
According to Montana Public Radio, businesses in Montana have received approval for nearly 13,500 loans as part of the federal relief package in response to the coronavirus.
The U.S. Small Business Administration said that over 1.6 million loan applications had been approved by April 16, and that the Paycheck Protection Program (PPP), which consisted of nearly $350 billion, was depleted of funds.
As stay-at-home orders continue and business closures remain in place, many business owners throughout the state of Montana are finding it challenging to pay bills, not to mention turn a profit of any kind.
At the same time, unemployment is continuing to rise throughout the state, with 15,350 additional unemployment benefits having been filed as of April 17.
It is still uncertain when Montana will reopen its economy.
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