Despite challenges, local small businesses seeing relief money
By Wednesday, Montana banks had made about $500 million in loans to about 5,300 small businesses as part of a new federal program that began April 3. The federal government no longer releases state-level data on the initiative — called the paycheck protection program — which provides loans to businesses to help them remain open and avoid layoffs as they grapple with the economic fallout from the coronavirus pandemic. “We have been asked not to provide local data yet,” said Brent Donnelly, deputy director for the Montana office of the U.S. Small Business Administration, the federal agency overseeing the paycheck protection program.