A First Look at America’s Arts Industries Success in Accessing PPP Loans
While the arts sector was effective in securing PPP loans, the $1.8 billion received by 9,917 nonprofit arts organizations severely lags its $9.1 billion in pandemic losses
Thursday, July 23, 2020
The coronavirus has had a devastating impact on America’s arts sector. Nationally, financial losses to nonprofit arts and cultural organizations are an estimated $9.1 billion as of July 13, 2020, and 62% of artists have become unemployed. An analysis by Americans for the Arts reveals the how the arts and creative economy sector performed in securing Paycheck Protection Program (PPP) loans.