Small Business Loans During Pandemic Saved Over 3 Million Jobs, Study Says
Posted on AllSides July 22nd, 2020
From The Center
Small business loans issued by the U.S. government saved between 1.4 million and 3.2 million jobs during the coronavirus pandemic, a new study has found, well short of the 51 million claimed by the Trump administration.
The study was released by the Massachusetts Institute of Technology and the Federal Reserve. It found that the Paycheck Protection Program raised employment by 2% to 4.5%, based on payroll data through the first week of June.
The program distributed roughly $500 billion in loans via the Small Business Administration to help businesses pay...
