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More than 81,000 Arizona businesses get coronavirus loans

Experts detail what it will take to reopen Arizona
Posted at 7:43 PM, Jul 06, 2020
and last updated 2020-07-06 22:43:16-04

PHOENIX (AP) — Government data show just over 81,000 Arizona small businesses were approved for loans worth $8.6 billion under a government program meant to keep people employed during the COVID-19 pandemic.

Data released Monday by the U.S. Treasury Department show the Arizona companies reported saving more than 1 million jobs as a result of the Paycheck Protection Program.

It was a central part of the governor's response to the economic fallout caused by the coronavirus.

Just over 11,000 Arizona firms were approved for loans of $150,000 or more.

Several sectors dominate those larger loans, including restaurants, doctors, dentists, lawyers and construction contractors.

The list also includes churches, schools, cultural organizations, hotels and casinos.