SBA: More than 40,000 businesses received second round of PPP loan

PHOENIX - After the first round of the Federal Paycheck Protection Program funding was wiped out, the second round is now up for grabs. 

On May 3, the Small Business Administration released new numbers that revealed more than double the amount of Arizona small businesses received funding in the second round.

Phoenix pastry shop Sweeteez are one of the small businesses who received the second round of funding from the paycheck protection program.

"We’re thrilled we’ve had mostly young adults that work for us, and they’re grateful to still have jobs," said Sweeteez co-owner Chelsea Jenkins.

According to the Small Business Administration, 43,915 Arizona small businesses received funding from the second round - more than double the first round.

The total payout was $3.7 billion, which is actually less than the first round.

In reference to the averages, the SBA administrator and treasurer Steve Mnuchin in a joint statement said it was "yet another indicator that the program is broadly based and assisting the smallest of small businesses."

"I’m surprised it works, I thought it was only giant businesses that got them," said Sweeteez co-owner Brooke Giffin, "That’s what it was before, so I’m very grateful to see small businesses like us are able to take advantage of this opportunity."

The PPP loan is forgiven as long as 75 percent of the money goes toward payroll expenses.That means Sweeteez and their 7 employees will keep getting a paycheck.

"If this didn’t happen who knows what’s on the horizon," said Chelsea Jenkins. "It’s hard being a small business, but we wake up and try everyday."