
More Emergency Funding For Small Business
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

Patent Victory Seen as a Win for Photo Industry
A recent decision by the U.S. Federal Circuit Court of Appeals is being hailed as a big win for the photo industry. The 2-year battle revolves around a...
Patent Victory Seen as a Win for Photo Industry

Kim & Lahey Law Firm Named to “Best Law Firms” List 2021
Washington, D.C. – U.S. News & World Report and Best Lawyers, for the 11th consecutive year, collaboratively announce the release of the "Best Law...

Doug Kim Shares Legal Strategies for Entrepreneurs
The pandemic has forced many changes in the business world, from closings and layoffs for some, to successful pivots for others. One surprising outcome is...