fbpx

Washington Post: North Dakota businesses dominated the PPP. Their secret weapon? A century-old bank founded by radical progressives.

The Washington Post, May 15, 2020: North Dakota businesses dominated the PPP. Their secret weapon? A century-old bank founded by radical progressives.

In the first few chaotic weeks of the Paycheck Protection Program, federal officials and banks throughout the country struggled to get bailout funds to small businesses as layoffs and furloughs climbed into the tens of millions.

But there was one exception, a place where loans found their mark more quickly than any other: North Dakota.

Small businesses there secured more PPP funds, relative to the state’s workforce, than their competitors in any other state — more than $5,000 per private-sector worker as of May 8, according to a Washington Post analysis.

Print Friendly, PDF & Email
Scroll to Top