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PPP Loans and Bushwick: A Neighborhood Breakdown of Coronavirus Relief Recipients

3,125 businesses in Bushwick have received PPP loan money. The vast majority of loans given were less than $150K. Nearly 25,000 jobs have been retained.

PPP Loans and Bushwick: A Neighborhood Breakdown of Coronavirus Relief Recipients
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In April, after Gov. Cuomo enacted the PAUSE Act that shut down all non-essential businesses in NYS, the Small Business Administration (SBA) received $349 billion from the Federal government via the Cares Act to loan out to small businesses struggling to survive during the crisis.  The loan program is called the Payment Protection Program, or PPP, and is meant to supply business owners with the means to maintain their workforce.  In Bushwick, 90% of the loans given to a total of 3,125 businesses were small loans of less than $150K and nearly 25,000 jobs were retained as a result.  

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