PPP in Heights-River Oaks-Montrose helped 6,700 businesses save 77,500 jobs

Payroll Protection Program
More than 6,700 businesses received Payroll Protection Program loans from April through Aug. 8, according to the U.S. Small Business Administration. (Courtesy Pexels)

More than 6,700 businesses received Payroll Protection Program loans from April through Aug. 8, according to the U.S. Small Business Administration. (Courtesy Pexels)

The Payroll Protection Program helped Heights-River Oaks-Montrose business owners retain more than 77,500 workers, according to an analysis of loan-level data provided by the U.S. Small Business Administration.

This includes additional loans given during the application extension window that closed Aug. 8.



A total of 6,766 businesses and 169 nonprofits received loans in the area. The majority received less than $150,000, but 10 firms received more than $5 million, such as oil services company Breakwater Energy Partners and restaurant owner Laurenzo's Management Co. Another 117 received $1 million-$5 million.



About one out of every five jobs saved in the Heights-River Oaks-Montrose area were in the professional services industry, which includes lawyers and accountants, according to the SBA data, with almost 15,000 reported jobs saved. The second-biggest share was in accommodation and food services, with nearly 13,000 jobs retained.