According to the SBA’s Office of Advocacy, “small business loans have large and significant effects on employment growth and job creation, particularly for firms with less than 100 employees. We estimate that doubling loans less than $100k is associated with increases in employment by ~ 7 percentage points within one year…” What’s more, these loans are good for banks too (“especially for banks with assets less than $10 billion”).
Important: The deadline for applying for a PPP loan runs through May 31, 2021.
