The construction industry comes second only to restaurants and hotels in the total Paycheck Protection Program (PPP) loan amounts.In the 2021 iteration of the loan program, construction firms have received $13.7 billion, which, according to the Small Business Administration is 14% of all funds paid as of February 7, 2021. The average loan across all industries was $78,000 and about 70% were less than $50,000. About three quarters of businesses receiving loans this round (starting in mid-January) also received PPP funds last year.
