The Paycheck Protection Program has given more than 5 million loans worth about $525 billion to help small businesses stay afloat during the coronavirus pandemic.
Florida Gulf Coast University’s Regional Economic Research Institute broke down those loans for Southwest Florida. From April 3 to June 30, close to 25,000 loans were given in the five-county region, with the most going to Lee County. However, Collier County actually had the highest per capita loan total, even higher than the state average of 1,852 loans per 100,000 population. (Note: A range for loans over $150,000 was provided, not a specific amount.)
The construction trade received about 14% of loans, the most for any industry in Southwest Florida.