New data released by the Small Business Administration reveals which companies throughout the country received federal assistance through the Paycheck Protection Program, a financial relief program created to alleviate losses brought about by the COVID-19 pandemic.
In the nine ZIP codes that make up the Lake Travis-Westlake area, the data shows 79 companies received loans from the PPP ranging from $350,000 to $10 million. Companies that received less than $350,000 are not covered in this breakdown.
Within that group of businesses, most reported how many jobs were retained as a result of those loans. In total, the numbers show 11,853 jobs were retained from companies, including Westlake Dermatology, which reported 220 jobs retained; Asure Software, which reported 485 jobs retained; and Sprinkles Cupcakes, which reported 500 jobs retained.
In Washington, D.C., lawmakers are discussing issuing another round of forgivable loans to businesses that have 100 or fewer employees and have experienced revenue loss of 50% or more during the pandemic.
