Bronx Businesses Received Just 7 Percent of NYC’s PPP Loans, But Can Still Apply for More
A report by the Manhattan Chamber of Commerce shows that The Bronx received just 7 percent of all federal Payment Protection Program (PPP) loans allocated to New York City. This was the second lowest percent of all five boroughs, after Staten Island. Meanwhile, the report shows that federal PPP loans injected $25 billion, approximately, into the city’s economy, and saved nearly 2.7 million jobs, amid the COVID-19 crisis. In a press release dated April 8, chamber representatives wrote that their report shows that New York City businesses received a total of 230,747 individual PPP loans guaranteed by the federal
