Rolla leveraging Paycheck Protection Program to preserve jobs

Lori Amos
Downtown Rolla.

Rolla businesses are beginning to leverage the Paycheck Protection Program (PPP) loans, which is part of a $2 trillion coronavirus aid package passed by Congress in March. The Small Business Administration, which oversees the program, disclosed the names of companies that received loans of more than $150,000, on Monday. They accounted for less than 15% of the loans, according to the Associated Press.

There were 40 businesses in Rolla that received loans in the range of $150,000 to $10 million, which retained 2,016 jobs. 

Rolla had 375 businesses receive loans in the range under $150,000, for a total amount of $12.9 million, which retained 2,238 jobs. 

The top two businesses in Rolla by loan amount were Brewer Science, Inc and Weinbaum Masada, LLC. Both received loans greater than $150,000 and less than $10 million. 

Meanwhile, in St. James, 14 businesses received loans in the range of $150,000 to $10 million, which retained 705 jobs. 

St. James had 124 businesses receive loans of less than $150,000, for a total amount of $3.2 million, which retained 546 jobs.