Paycheck Protection Program loans top $6.5 million in county

Wyoming as a whole was able to secure over a billion dollars of loan approvals during the two rounds of funding for the federal Payroll Protection Program, with a significant chunk of that total directed to Crook County .

During the first round of loan approvals, Andy Miller, President of Sundance State Bank, was able to announce that 114 loans had been approved at a total over $4.6 million.

“So far, in the second round, we have done about 30 loans for approximately $1.9 million,” he says. 

“They’re still trickling in, but have slowed considerably, which hopefully means most area businesses that qualify have secured funding through the program.”

This brings the bank’s overall total to more than 144 loans and approximately $6.5 million, most of which has been secured for businesses within the county.

According to a press release from Wyoming Small Business Administration, the total loan approvals for this state during the first round of funding was $837,018,372. The second tranche of funding brought an additional $195,828,589 in loan approvals – in total, more than a billion dollars have flowed into Wyoming and have been directed straight to its businesses through this program.

U.S. Small Business Administration Administrator Jovita Carranza and U.S. Secretary of the Treasury Steven T. Mnuchin issued a statement on Monday regarding the success of the PPP, noting that it has provided critical support to millions of small businesses and tens of millions of workers.