Healthcare Finance News July 8, 2020
Healthcare and social assistance has so far received $67.4 billion of the $521 billion distributed by the program.
At 12.92%, the healthcare and social assistance sectors received the greatest percentage of loans in the Paycheck Protection Program, narrowly beating out the professional, scientific and technical services sector at 12.74%, according to new data released by the Trump Administration.
Healthcare and social assistance has so far received $67.4 billion of the $521 billion distributed by PPP, which has flowed into hospitals and physicians’ offices as well as food banks and temporary housing organizations. Of all businesses receiving loans, the vast majority — 86.5% — received less than $150,000. The average loan size was about $107,000.
WHAT’S THE IMPACT
Hospitals were allocated...
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