WASHINGTON (Feb. 17, 2021) —The construction industry has received more than $13 billion in Paycheck Protection Program (PPP) loans this year, second only to restaurants and hotels. According to a Small Business Administration (SBA) report, construction makes up 14% of all PPP loans paid as of February 7, 2021. Restaurants and hotels made up 18% of the $104 billion in total loans in 2021. This trend may continue as SBA rolls out changes to the PPP loan program later this year.
Digital Partners
From Our Partners
4 Fixes that help contractors get paid faster.
Everything general contractors need to know about handling mechanic’s liens.
Sponsor
When estimators get their time back, contractors bid faster, win more projects and grow revenue faster.
Sponsor
Take our quick survey and see how CoFi transforms financing for builders like you.
Sponsor
Explore how to enhance your ERP's capabilities, reduce financial risk and improve subcontractor relationships.