Coronavirus Relief In Cleveland Heights: Where PPP Money Went

CLEVELAND HEIGHTS, OH —Nearly 23,000 Ohio businesses and non-profits have received loans from the Paycheck Protection Program, or PPP, to help pay their employees during the coronavirus pandemic.

PPP loans were established as part of the federal government's CARES act, and are similar to grants: they will be forgiven as long as businesses keep its employees on their payroll, without cutting their pay. However, the money does not necessarily have to go directly to employees as long as the business keeps paying them, it can also be used to pay interest on mortgages, rent, and utilities.

On Monday, the U.S. Small Business Administration released data showing that nearly 5 million businesses have received PPP loans totaling over $521,000,000,000. The U.S. Treasury says that money has supported 51.1 million jobs, as much as 84 percent of America's small business employees.

Here's an interactive map that shows many of the businesses that received PPP loans valued above $150,000 in Cleveland Heights:

Learn more about PPP loans at the SBA's website here.