Construction firms have received the second-highest amount of Paycheck Protection Program funds in 2021 so far, according to the Small Business Administration.
As of Feb. 7, the construction industry has received 112,199 loans for a total of $13.7 billion, making up 14% of the loans. Construction was second only to Accommodation and Food Services, which received $18.0 billion in loans—18% of the total amount of PPP loans given so far this year. Manufacturing ranked fourth highest with $10.7 billion, and retail trade ranked seventh with $4.8 billion.
The average loan size for 2021 PPP loans is $78,000, according to the SBA.
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