NEW YORK: JPMorgan Chase & Co said in an email to small business clients late on Wednesday that it had submitted roughly 220,000 applications this week to the Small Business Administration for the Paycheck Protection Program.AdvertisementThe average loan size was around US$81,000, and roughly half of the loan applications were filed by businesses with fewer than five employees, the bank said.
About 80 per cent of the applications were for amounts less than US$100,000 and about 40 per cent were for less than US$25,000.
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