Paycheck Protection Program

A photo of Sweet Peaks Ice Cream shop taken on June 10, 2020
Rachel Cramer / Yellowstone Public Radio

Many economists say the federal Paycheck Protection Program (PPP) has helped prevent broad economic collapse in the U.S. But they say transparency will be key in understanding how well the program actually worked. Yellowstone Public Radio News’s Nicky Ouellet spoke with Rachel Cramer who’s been reporting on the PPP in Montana and new rules to make it easier for borrowers to qualify for loan forgiveness.

U.S. Small Business Administration logo
U.S. Small Business Administration Website

Audio Pending...

A new report shows over 21,700 loans through the Paycheck Protection Program (PPP) have been approved for small business, nonprofits and faith based organizations in Montana.

A manequinne in a black and white striped shirt shows in a window with a closed sign behind it.
Nicky Ouellet / Yellowstone Public Radio


Financial leaders in Montana say the majority of loan applications for the federal Paycheck Protection Program have been processed after some major roadblocks earlier in the week.

A 'closed' sign on the door of the Agate Salon in Missoula, April 03, 2020.
William Marcus / Montana Public Radio

Montana businesses have been approved for nearly 13,500 loans totalling almost $1.5 billion as part of the federal coronavirus relief package.

Missoula Club Bar & Grill in Missoula
John Lloyde/Flickr (CC BY 2.0)

Over 10,000 loans totaling nearly $1.3 billion have been approved for small businesses in Montana as part of the federal coronavirus relief package.

Out of the $350 billion allocated to small businesses nationwide through the Paycheck Protection Program (PPP), nearly $250 billion in loans had been approved as of Apr. 13.