A Closer Look at as much as $7.8 Billion in Subsidies to Connecticut Businesses

Businesses in a range of industries across Connecticut say the federal Paycheck Protection Program helped them keep staff employed as they weathered declining revenues in the early months of the response to COVID-19. Congress authorized the Paycheck Protection Program in March as part of a relief package known as the CARES Act. It’s a loan for small businesses, employing fewer than 500 workers, to cover up to eight weeks of payroll costs, which can be forgiven if the company retains its staff and payroll. As part of the program, the U.S. Small Business Administration has approved 4.88 million loans totaling