October 19, 2021

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Business The Problem Solver

Where $947 million in PPP loans went in Greater Lansing

LANSING – In 14 months, $947 million came into Greater Lansing from the federal Paycheck Protection Program, which aimed to provide relief to businesses during the COVID-19 pandemic.

The federal government, through private lenders, doled out loans to 9,482 businesses in Ingham, Eaton and Clinton counties, according to a State Journal analysis of the U.S. Small Business Administration’s data. Those loans preserved 111,631 jobs, according to the SBA data.

The information in the SBA data was entered by the businesses that received the loans and covers loans issued during two rounds of the program.

More:Who got Paycheck Protection Program loans?

Here’s how Greater Lansing benefited from PPP:

  • 6,255 businesses in Ingham County received $665.3 million in loans and preserved 76,885 jobs
  • 2,171 businesses in Eaton County received $194.5 million in loans and preserved 23,908 jobs
  • 1,056 businesses in Clinton County received $87 million in loans and preserved 10,838 jobs

What is PPP?

The program was created in March 2020 during the early months of the COVID-19 pandemic as a part of the Coronavirus Aid, Relief, and Economic Security Act. The program was reauthorized and there was a second round of PPP loans, which opened in January 2021.