More Nevada business owners receiving PPP funds

A survey among small businesses found most owners were able to successfully apply and receive funds from the Paycheck Protection Program, after it received a second round of funding last month.

Seventy-seven percent of owners had successfully submitted an application and 61 percent received funding, according to a survey of 842 respondents by the National Federation of Independent Business.

NFIB Nevada State Director Randi Thompson said the loan is a lifeline for the state’s small-business community.

“Only 8,600 small businesses in Nevada received PPP loans in the first round, so I’m pleased to see the numbers are much higher this round for our Main Street businesses,” Thompson said in a statement.

The federal program is administered by the U.S. Small Business Administration and provides small businesses forgivable loans to pay for wages, benefits and other qualifying expenses.

Contact Subrina Hudson at shudson@reviewjournal.com or 702-383-0340. Follow @SubrinaH on Twitter.