SIOUX FALLS, S.D. (KELO) — South Dakota has one of the highest Paycheck Protection Program approval ratings at 93%. The U.S Small Business Administration released a document detailing organizations receiving the money. All of this information is about the latest round of the PPP given to companies.
In South Dakota, 1,944 organizations had help from the Paycheck Protection Program. Out of those businesses, 173 were nonprofits who accepted the loan.
With the help of the PPP, 101,628 jobs were retained in South Dakota.
Nine companies borrowed $5-10 million. 77 organizations borrowed $2-5 million. 146 businesses borrowed $1-2 million. 601 borrowed $350,000-1 million. 1,111 used the paycheck protection program for $150,000-350,000.
The top five cities in South Dakota with the most businesses who obtained the PPP are:
- Sioux Falls – 641 organizations
- Rapid City – 287 organizations
- Aberdeen – 98 organizations
- Watertown – 82 organizations
- Mitchell – 50 organizations
Great Western Bank was the top lender for South Dakota helping 167 companies. First Dakota National Bank was right behind them assisting 166. And, Dacotah Bank helped 141 businesses.