Houston’s PPP loan approval rate skyrocketed in phase 2

Paycheck Protection Program loan approvals increased in recent weeks, and the Houston region is no exception, according to a recent analysis by Smart Asset.

From April 26 through May 2 — during the PPP’s first phase — 78% of surveyed small businesses with fewer than 500 employees in the Houston metro region applied for a PPP loan, but only 45.8% were accepted, SmartAsset found. But for the week ending May 30, 76.6% of local small businesses surveyed applied for a PPP loan and 94.3% received…