--- title: PPP Loan Statement description: PPP Loan Statement July 2020. image: https://blog.premployerinc.com/hubfs/Blog%20Images/PPPjpg.jpg --- COVID-19 # PPP Loan Statement PPP Loan Statement July 2020. [ PRemployer ](https://blog.premployerinc.com/prblog/author/premployer) Jul 30, 2020 [mailto:?subject=Check%20out%20https://blog.premployerinc.com/prblog/ppp-loan-statement&utm_medium=social&utm_source=email%20&body=Check%20out%20https://blog.premployerinc.com/prblog/ppp-loan-statement&utm_medium=social&utm_source=email](mailto:?subject=Check%20out%20https://blog.premployerinc.com/prblog/ppp-loan-statement&utm_medium=social&utm_source=email%20&body=Check%20out%20https://blog.premployerinc.com/prblog/ppp-loan-statement&utm_medium=social&utm_source=email) [COVID-19](https://blog.premployerinc.com/prblog/tag/covid-19) ![](https://blog.premployerinc.com/hubfs/Blog%20Images/PPPjpg.jpg) ![PPPjpg](https://blog.premployerinc.com/hs-fs/hubfs/Blog%20Images/PPPjpg.jpg?width=600&name=PPPjpg.jpg) At PR Companies, we applied for a business loan from the Paycheck Protection Program (PPP). The PPP loan was established by the US Federal government’s Coronavirus Aid, Relief, and Economic Security Act to help businesses continue paying workers during the ongoing pandemic crisis. After following the strict guidelines set forth through our banking partner, Bank of America, and completing all formulas required by the PPP application, our companies were approved for the second to last tier of PPP loan amounts ($350,000-$1 million). The loan approval gave us the opportunity to supply 2.5 months’ worth of payroll costs for forty-nine of our employees. As an essential business to the community’s workforce development, it was critical that we kept our employees on the payroll. In turn, we were able to continue supplying local businesses with employees and fulfill their payroll requirements. We are grateful for our loan approval. It allowed us to preserve jobs within our company and provide employees with numerous essential jobs in the community, including local testers for COVID-19 test centers. In addition, we were able to supply local clients with the necessary paperwork to satisfy their own PPP loan applications. In total, the PPP loan saved over 13,000 jobs from 232 businesses impacted by the coronavirus in Houston County. PR Companies are proud to serve the community during this uncertain time and we look forward to the continued partnership with local businesses to sustain our economy. If you're currently not working with a professional employee organization (PEO) and want to streamline your companies internal human resources functions, then [contact us today!](https://www.premployerinc.com/premployer/contact-us)  Also, don't forget to download our eBook: [Cyber Risk Management Training Tips to Protect Your Company.](https://info.premployerinc.com/cyber-risk-management-ebook) If you haven't visited our [Resources Page](https://www.premployerinc.com/resources) please do, as we have a library full of very useful guides, eBooks, and other resources aimed at helping businesses make sound decisions for their company and their employees.  [![Cyber Risk Management Training Tips](https://no-cache.hubspot.com/cta/default/4685699/0fd0ca49-6a2f-4423-b0d6-f634a4e7e719.png)](https://cta-redirect.hubspot.com/cta/redirect/4685699/0fd0ca49-6a2f-4423-b0d6-f634a4e7e719) ## Similar posts Expertise ### [The ROI of Expertise](https://blog.premployerinc.com/prblog/the-roi-of-expertise) What are the returns for working with experts? Read on to find out. PRemployer Aug 5, 2020 Expertise ### [Modest Ways to Show Your Excellence](https://blog.premployerinc.com/prblog/modest-ways-to-show-your-excellence) Demonstrating your reputation is important, but how do you do it in a way so that it does not seem like bragging? Read on to learn more. PRemployer Nov 10, 2020 Employee Benefits ### [How to Protect Your Employees from Head Hunters](https://blog.premployerinc.com/prblog/how-to-protect-your-employees-from-head-hunters) How can you keep head hunters from poaching your top talent? How can PEOs strengthen your “retention defenses?” Read on to learn the answer. PRemployer Jun 10, 2020 ### Stay up to date with the PRemployer Blog! Keep up with the latest HR insights, rules, trends, and laws when subscribing to the PRemployer blog.