Construction Firms Received $13.7B Total in PPP Loans
By Jenn Goodman, Construction Dive
Construction firms received $13.7 billion in loans under the latest version of the Paycheck Protection Program, making the industry second in total loan amounts received after restaurants and hotels, which got $18 billion in funds so far.
About three-quarters of the companies taking money in this round, which began in mid-January, also received PPP funds last year, the data shows. The average loan across all industries was $78,000, and about 70% were for less than $50,000.