Utah businesses receive over two-billion dollars in loans

Utah businesses are collectively receiving over two-billion dollars in paycheck protection loans from the federal payroll.

Utah Economic Response Task Force officials say the funds from the Paycheck Protection Program of the U.S. Small Business Administration will be distributed to businesses through over 12-thousand loans.

CEO of World Trade Center Utah, Miles Hansen, says federal officials estimated that Utah would need over three-billion dollars in PPP loans to maintain payroll and help keep the lights on.

He encourages small businesses to still apply for these loans if they need it and be cautious of scams.