More than 6,400 businesses in Clark County have received loans under the Paycheck Protection Program to help them close the financial gap caused by the COVID-19 pandemic, according to data released Monday by the US Small Business Administration. The money they received has helped protect over a third of all local jobs.
Loan amounts ranged from a few hundred dollars to the top of $ 5-10 million, but the SBA divides loans into two main categories: those under $ 150,000 and those above.
The breakdown for Clark County is 5,405 businesses in the small category and 1,003 businesses in the large category, for a total of 6,408 businesses (excluding Town of Woodland businesses, unless they did not include an address in Clark County).
The data also includes an estimate of the number of jobs that each loan recipient claims to have saved by taking the loan, that is, the number of workers who would have been on leave or fired without the extra money from the loan. payroll.
Among Clark County businesses that received loans of less than $ 150,000, the estimated total number of jobs saved is 23,232. Companies receiving larger loans said the money saved 43,277 jobs, for a combined total estimate of 66,509. Clark County’s total employment in March, before the pandemic began, was estimated. to 172,100 jobs, according to regional economist Scott Bailey. This means that more than one in three jobs have been preserved by the program.