
US Senate Expected to Close the Deal Today
The SC Chamber of Commerce has released a statement informing business owners that US Senate Democrats and Republicans are close to a deal for additional funding for the Paycheck Protection Program (PPP). The package, expected to be passed today in the Senate by unanimous consent, will likely allocate close to $400 billion total including funding for:
- PPP
- Economic Injury Disaster Loans (EIDL)
- Hospital assistance
- COVID-19 testing
PPP Recap
Nationally:
- Approval of 1,661,367 loans
- Approval of $342.3 billion in loans (does not reflect the amount required for reimbursement to lenders per statute within the CARES Act.
- 4,975 lenders have processed approved loans
- Overall average loan size is $206,000
Top five sectors receiving loans:
- Construction (13.12%)
- Professional, Scientific, and Technical Services (12.65%)
- Manufacturing (11.96%)
- Health Care and Social Assistance (11.65%)
- Accommodation and Food Services (8.91%)
In South Carolina:
- Approval of 22,933 loans have been approved
- Approval of $3.81 billion in loans
Latest Posts
Kim, Lahey Killough attorneys listed 2026 Best Lawyers
Kim, Lahey & Killough attorneys listed in 2026 Best Lawyers Kim, Lahey & Killough Law Firm is honored to announce that five of the firm attorneys...
All attorneys listed as 2025 Legal Elite
Entire Kim, Lahey & Killough attorney team listed as 2025 Legal Elite by Charleston Business and Greenville Business Magazines Kim, Lahey &...
All attorneys listed as 2025 Legal Elite
Seann Lahey named to GSSM Board
Kim, Lahey & Killough congratulates Greenville registered patent attorney and firm founder Seann Lahey, who has been elected to the South Carolina...