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$130 Million in PPP funding approved for businesses in Kankakee County
Kankakee County was one of the many communities with businesses that began applying for the Paycheck Protection Program PPP in early April. Since that
By Shane Saathoff · 2020-07-22T23:02:52+00:00
Kankakee County was one of the many communities with businesses that began applying for the Paycheck Protection Program PPP in early April. Since that time, millions in federal funding have been approved for local business owners to help keep their doors open and their staff on the payroll.
According to Small Business Administration data released in early July, over 1,200 businesses in Kankakee County have received nearly $130 million in PPP funding since the program's inception.
The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.