Nearly 100,000 Jobs Saved in Central Valley Thanks to Federal Paycheck Protection Program
Modesto, CA – Representative Josh Harder (CA-10) today announced that the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) has saved 96,074 jobs in his Central Valley district according to data from the SBA. Over 7,000 businesses in California’s tenth district received millions of dollars to keep their workers employed through the economic chaos resulting from the pandemic. Rep. Harder voted to create the PPP as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March.
“People are hurting all over the Valley because of the economic chaos caused by the pandemic – and thanks to the PPP we’ve saved nearly 100,000 local jobs,” said Rep. Harder. “You can’t tell people they have to shut down their business and then not help out. We still have a lot of work to do to help people out during this pandemic, but this program is a good start to keeping our businesses afloat.”
In August Rep. Harder announced that the program had already saved over 70,000 local jobs. Since that time, the SBA reopened the program and provided billions more in additional loans at the direction of Congress. Since that time, over 20,000 additional Valley jobs were saved by the program.
The PPP allows employers to apply for loans to keep their employees on payroll specifically during the Coronavirus Pandemic. Businesses may apply for forgiveness of the loans if they verify that the funds were used to keep employees and make payments, including mortgage interest, rent, and utility payments. More information on the program is available here. Information on business benefits specifically for Rep. Harder’s Central Valley district is available upon request.