Florence businesses received thousands from Paycheck Protection Program loans
Town starts grant program for proprietors struggling with the effects of pandemic
by Richard Dyer | Florence Independent
A total of 74 Florence businesses received federal Paycheck Protection Program loans, documents show, ranging from $2,075 up to, potentially, $350,000.
Those in the municipality also can apply for Town of Florence grants for up to $10,000, while the Pinal County Board of Supervisors voted to approve up to $30,000 for businesses in unincorporated areas.
What are PPP loans?
The Paycheck Protection Program, which had a deadline of Aug. 8, was a loan designed to provide a direct incentive for small businesses to keep workers on their payroll, according to the Small Business Administration.
