ICYMI — the application period for the federal Paycheck Protection Program (PPP) has been extended to Saturday, Aug. 8. Small businesses can still apply for assistance up to that date.
Earlier this week, the Small Business Association (SBA) released data showing which businesses across the country have received payouts from PPP – including companies + nonprofits that have received $150,000 or more.
Open the Books, a Chicago-based nonprofit committed to the transparency of government spending, has also created a searchable map so you can view all the small businesses that have received funding in your neighborhood.
The federal government has distributed ~$520 billion worth of PPP loans to ~5 million mostly small businesses and nonprofits + several businesses locally. According to the application for the loan, the assistance will be completely forgiven if it is used for payroll cost or interest on mortgage, rent or utilities.
Did you know? Approximately 55,550 loans were awarded across the state, and at least 1,679 businesses in the Lowcountry received loans over $150,000.
Here are the top recipients in our area:
○ BGI, LLC | loan range: $5-10 million | 411 employees retained
○ BoomTown ROI, LLC | loan range: $5-10 million | 348 employees retained
○ Chipton-Ross Staffing, Inc. | loan range: $5-10 million | 476 employees retained
○ Johnson & Johnson, Inc. | loan range: $5-10 million | 393 employees retained
○ Motley Rice, LLC | loan range: $5-10 million | 379 employees retained
○ Palmetto Primary Care Physicians, LLC | loan range: $5-10 million | 500 employees retained