Orange County Executive Steven M. Neuhaus announces that County businesses have received or will receive more than $200 million from the first and second rounds of the Paycheck Protection Program (PPP).
At the direction of Neuhaus, the County’s Director of Tourism, Amanda Dana, Economic Development Director Bill Fioravanti and Director of Employment and Training Steve Knob, in collaboration with Lynn Cione, President and CEO of the Orange County Chamber of Commerce, pooled their office’s resources to work with small businesses seeking PPP assistance. The funding, provided through local lending institutions, has helped to preserve approximately 20,000 at-risk jobs in Orange County.
“The process has been tedious at times, but we are all grateful for the unwavering commitment to helping the community that our local and regional lenders have shown,” said Neuhaus.
The Paycheck Protection Program is a federal loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Small Business Administration (SBA) will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. For more information about the program, go to www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program.