Paycheck Protection Program (PPP) loans have aided more than 5.2 million small business owners, providing a much-needed lifeline during the Coronavirus outbreak crisis. A total of 45,812 loans were distributed to Mississippi leading to a reported 412,461 jobs being retained. Chang's China Bistro and Chop't received aid of between $5 million and $10 million. The SBA states that the PPP program is designed to help small businesses keep workers on payroll. Across the country, more than 660,000 businesses received $150,000 or up to the $10 million maximum from the small-business lending program. Secret IRS data shows it's paying off - Salon, Heres hoping this USC/UCLA-Big Ten merger careens off the track, crashes and burns | Jones - PennLive, LETTER: Thank cadre deployment and BEE for the mess - BusinessLIVE, Why The Racist Left Smears Clarence Thomas As An 'Angry Black Man' - The Federalist, This Is the Most Important Decision You Can Make To Increase Sales Right Now! Bankers, lawyers, and consultants told Business Insider that the volume of pre-approved loans will soak up the second round of funding.If you don't receive emergency government funding, it's suggested for small businesses to seek funding through tax relief, private companies, local governments, and organizations offering small business grants. Larger and public companies initially took advantage of loosely written language to tap the funds for themselves. In Mississippi, nearly all 96% of loans were directed towards payrolls. By clicking submit, you agree to share your email address with Mississippi Today. Right place at the right time: freeports model gives fillip to St Helens regeneration scheme - The Guardian, Reflections from London on the queen's life and death - Baptist News Global, Editorial: NH voters, beware of radical threat on ballot - Valley News, 10 Wednesday AM Reads - The Big Picture - Barry Ritholtz, Opinion: Renewables are great and all, but who'll pay when they fail? Meanwhile, 78 white business owners received loans for at least $1 million. Rich Smith 31.3K subscribers Subscribe 110K views 1 year ago Here's a breakdown of the PPP Loan Fraud List and who got a PPP Loan. Loans Issued In Mississippi PPP Recipients Browse PPP Loans By State Mississippi Select a City for all PPP loans filed within that jouristiction, or search the entire state filings here: Show entries Search: Processing. The Small Business Administration released a list of the businesses borrowing between $150,000 and $10 million under the loan program after members of Congress and media organizations pressured. There is not an exact figure because many of these loans are disclosed in ranges. Several other companies, shown below, received enough in loans to pay each employee over six figures. Founded in 2016 as the states first nonprofit, nonpartisan newsroom, Mississippi Todays roots in Capitol coverage have grown to encompass a myriad of beats beyond politics and policy, including education, public health, justice, environment, equity, and, yes, sports. to see all of their content. The overwhelming majority of owners who received PPP loans legitimately used the money to retain employees and stay operational. Industries getting the largest share of net PPP dollars were health and social assistance, professional, scientific and technical services, construction and manufacturing. 177878 177879 The vast majority of those companies taking part in the program some 38,035 organizations received PPP loans less than $150,000. The Ayn Rand Institute, named for the objectivist writer cited as an influence on libertarian thought, was approved for $350,000 to $ 1 million. "The CARES Act was an umbrella act that distributed tons of money. Search MS Businesses Results @lukerehmann Editorial cartoons and photo essays are not included under the Creative Commons license and therefore do not have the "Republish This Story" button option. Internationally, South Korean airline Korean Air received a PPP loan. The US government recently added a second round of $310 billion to PPP loan program. The Small Business Administration has released a list of businesses that have received emergency pandemic. As was the case after the first round of the Paycheck Protection Program last summer, the states top recipients so far include restaurants, doctors and dentists offices, legal practices, construction companies, car dealers, hotels and religious organizations. The Clarion Ledger reached out to several companies that received at least $5 million through the program. Based on the data, between $2,511,750,192 and $4,436,550,192 have been loaned through the Payroll Protection Program to businesses in Mississippi. Under the law, Mississippi received $1.25 billion. The U.S. government has released a list of businesses that have received emergency pandemic loans of $150,000 or more. More than 40% of Black small business owners wereforced to close shop as result of the pandemic. Classical Economists - The Objective Standard, Opinion | Demolishing the Demonic Plans of Our Enemy, and Can We Get An Amen - Common Dreams, Ayn Rand's We the Living: Back on the Silver Screenand Better Than Ever - The Objective Standard, Congress revival: Time to break free of family - The Hans India, The Financial Dark Ages Are Ending Thanks To Bitcoin - Bitcoin Magazine, Marital rape: How understanding context rather than just focusing on consent will help resolve the issue - Firstpost, Deadly Class Season 2: Is a Release Date or Rumor in the Offing on Netflix? How's the return to office going? The US government recently added a second round of $310 billion to PPP loan program. - Newsweek, Objectivism Q&A with Ben Bayer and Dan Schwartz - New Ideal, Book Banning Is Wrong Unless It Gets Me Out of Helping My Kid With His Homework - The Hard Times, THE TEACHER'S DESK: Breaking the Rules | Opinion | thetimestribune.com - Times Tribune of Corbin, If Big Ten didnt just add lucrative programs like USC but trimmed stragglers, whod get the boot? You cant edit our stories, except to reflect relative changes in time, location and editorial style. John Farrell, a Republican donor and real estate developer also received a PPP loan. More than 45,000 loans worth nearly $3.2 billion were approved in Mississippi by the Small Business Administration, according to Mississippi Bankers Association. The U.S. government has released a list of businesses that have received emergency pandemic loans of $150,000 or more. The Treasury Department and Small Business Administration on Monday disclosed the names of businesses to whom they have lent more than $150,000 as part of the Paycheck Protection Program. See the full searchable list of who received Mississippi PPP loans, law firm where House Speaker Philip Gunn works, Businesses with ties to Tate Reeves received loans, Your California Privacy Rights/Privacy Policy. The association said the "vast majority" of the loans originated at banks headquartered in the state. For a full breakdown of which businesses received loans of $150,000 or more, see the tables below: !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"])for(var e in a.data["datawrapper-height"]){var t=document.getElementById("datawrapper-chart-"+e)||document.querySelector("iframe[src*='"+e+"']");t&&(t.style.height=a.data["datawrapper-height"][e]+"px")}}))}(); Disclosure: Mississippi Today sought a Paycheck Protection Program loan, which has been approved and disbursed. The PPP Loan Fraud List - PPP Fraud | Who got a PPP LOAN 2021 P Mathis The Accountant 4.83K subscribers Subscribe 2.1K Share 113K views Streamed 1 year ago Are you considering applying for. Mississippi companies reported the aid will help them retain about 412,000 jobs about one-third of the state's total workforce. At least two casino companies and a pair of yacht clubs on the Coast received funds as well. If youre not able to add the byline, please include a line at the top of the story that reads: This story was originally published by Mississippi Today and include our website, You cannot republish our editorial cartoons, photographs, illustrations or graphics without specific permission (contact our managing editor. Changs, Legal Sea Foods and Silver Diner either received PPP loans or had investors connected to the company that did. John Farrell, a Republican donor and real estate developer also received a PPP loan. The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country, said Secretary Steven T. Mnuchin. Included in the data were car dealerships, nonprofit organizations, churches, oil and gas industry support companies, medical practices, zoos, law firms, and colleges. Some 3,890 Mississippi companies received PPP loans in excess of $150,000. Contact Giacomo "Jack" Bologna at 601-961-7282 or
[email protected]. In fact, the franchise locations combined for each of McDonalds, Sonic, Applebees and General Motors received more in loans than any of the states non-franchise businesses. $2M - $5M: 118 Recipients. About 87% of the loans were for less than $150,000, according . Mississippi TUPELO 169 PPP loans (>$150k) have been issued in the city of TUPELO, MS. All publically available loans are listed here in order of business name. Revealed: How U.S. Gov't & Hollywood Secretly Worked Together to Justify Atomic Bombings of Japan - Democracy Now! Almost all of that money has yet to be distributed. of Loans Jobs Retained They and many more companies ultimately returned the money after public outcry. Please reload the page and try again. A handful of Mississippi's private colleges also received assistance. To republish online, simply click the button, copy the html code and paste into your Content Management System (CMS). His work has appeared in the Boston Globe, Open Secrets, and on NBC.com. Transportation Secretary Elaine Chao's family's business, Foremost Maritime, got a loan valued at between $350,000 and $1 million. General Freight Trucking, Long-Distance, Truckload, Services for the Elderly and Persons with Disabilities, Other Grocery and Related Products Merchant Wholesalers, Offices of Real Estate Agents and Brokers, Cardiology Associates Of North Mississippi, All Other Miscellaneous Ambulatory Health Care Services. Borrowers are eligible for full forgiveness as long as they maintain the same level of employment and compensation for a certain period and spend most of the loan on their payroll. Across the country, more than 660,000 businesses received $150,000 or up to the $10 million maximum from the small-business lending program. Wochit. The data only identifies companies with loans worth more than $150,000. While many companies did not provide demographic information, the data suggests the vast majority of money went to white-owned businesses. Perdue's adult children are 99% stakeholders in a trust that indirectly owns the company, and the secretary did not have any influence on the SBA's loan decisions or the company's decision to apply for aid, the spokesperson said. California students call to remove Ronald Reagan, Margaret Thatcher busts - Campus Reform, The GOP Are Standing on Trump's Sinking Ship, But Democrats Need a Vision Beyond Electing Biden - Common Dreams, Is Donald Trump the Republican Partys future, or its past? The online vehicle marketplace company quadrupled its sales in just one year after beginning operation in January 2021. Otherwise, it carries a 1 percent interest rate and must be repaid within two years. There is further data we're working on for the loans under $150k however so check back in the future for that. The program has about $132 billion in funding remaining. Changs, Legal Sea Foods and Silver Diner either received PPP loans or had investors connected to the company that did. - Men's Health, Readers Are Debating Over These 7 Books And Whether They're Deadset Red Flags When Dating Men - Pedestrian TV, 21 Quotes That Transformed My Life and My Business - The Good Men Project, In Times of Crisis, Is Dystopian Media Dangerous or Inspirational? Any web site our stories appear on must include a contact for your organization. The Archdiocese of New York got a loan valued at between $5 million and $10 million, while the Catholic Charities of the Archdioceses of San Francisco, Washington, D.C., New Orleans and Boston, among others, all received assistance valued at more than $2 million. - The Bulwark, Boris Johnsons Covid bravado insults the NHS and the public - The Guardian, Science Fiction in a Time of Crisis - Filmmaker Magazine, The criticism facing Rishi Sunak has nothing to do with race, and all to do with greed - iNews, Zack Snyder's Star Wars-Themed Movie Recruits The Princess Bride Star - Giant Freakin Robot, Debate sparked after University of Bristol students try to 'cancel' controversial speaker - Bristol Live, Rishi Sunak is a terrible bloke, regardless of his wife's finances - JOE.co.uk, Understanding the Roots of the New Inflation: With Rob Tarr - New Ideal, First Wind Film Development To Adapt Rick Bleiweiss Blackstone Novel Pignon Scorbion And The Barbershop Detectives For TV - Deadline, 'My jagged path to cap and gown': Reflections from a 23-year-old expectant high school graduate - Kennebec Journal and Morning Sentinel, Don't Believe The Hype: The Left Wish They Ran Cancel Culture Like This - Above the Law, Who is John Malone, the 'Cable Cowboy' and GB News backer who could buy Channel 4? Yet that rate varies greatly; J&W Transport LLC, a trucking company in Jackson, received a loan of over $260,000 to pay one employee. Lawmakers decided in mid-May to set aside $300 million of that money for small business owners. In total, Mississippi businesses received between $2.5 billion and $4.4 billion in loans, spread across 45,000 recipients loans of $150,000 or larger are only disclosed in ranges. The PPP loans are designed to keep people on the job, and can be forgiven if the funds are used on payroll and similar expenses. President Donald Trump signed the federal CARES Act into law in late March, sending states billions of dollars to help people impacted by the coronavirus. Clarification: The story has been edited to clarify that franchisees of national chains applied and received PPP loans rather than the chains corporate bodies. They included Jackson Academy and Jackson Prep, which both received at least $1 million. All rights reserved. All rights reserved. For all loans below $150,000, SBA is releasing all of the above information except for business names and addresses. Franks interviews, articles, and columns have been shared throughout Mississippi as well as in national publications such as the Daily Caller. Most did not respond. Changs, Legal Sea Foods and Silver Diner either received PPP loans or had investors connected to the company that did. Based on the data, between $2,511,750,192 and $4,436,550,192 have been loaned through the Payroll Protection Program to businesses in Mississippi. But about 3,500 Mississippi businesses that received PPP loans said they would retain zero jobs with the money. SBA and Treasury to release names of largest PPP loan recipients. St. Andrew's Episcopal Day School in Ridgeland got at least $2 million. Religious groups in the state received between $53 and $80 million, spread across 80 different organizations. Graphics by CNBC's John Schoen. John Farrell, a Republican donor and real estate developer also received a PPP loan. Click on a company's name to see additional loan details. Restaurant chains like P.F. Central Mississippi Civic Improvement Association, Inc. Commercial and Institutional Building Construction, Seafood Product Preparation and Packaging, East Mississippi Electric Power Association. Aaron E. Henry Community Health Services Center, Inc. Administration of Urban Planning and Community and Rural Development, Iron and Steel Mills and Ferroalloy Manufacturing, Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing, Automotive Body, Paint, and Interior Repair and Maintenance, Asphalt Paving Mixture and Block Manufacturing, Wine and Distilled Alcoholic Beverage Merchant Wholesalers, Administrative Management and General Management Consulting Services, Manufactured Home (Mobile Home) Manufacturing, Promoters of Performing Arts, Sports, and Similar Events without Facilities, Oil and Gas Field Machinery and Equipment Manufacturing, Other Support Activities for Air Transportation, Cowboy Maloney Appliance, Audio, VIdeo Centers, Inc. - South Carolina Public Radio, Did the John Birch Society Win in the End? By clicking submit, you agree to share your email address with Mississippi Today. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to email a link to a friend (Opens in new window). On average, businesses in the state received about $7,000 per employee. If youre not able to add the byline, please include a line at the top of the story that reads: This story was originally published by Mississippi Today and include our website, You cannot republish our editorial cartoons, photographs, illustrations or graphics without specific permission (contact our managing editor. So here are the links and resources I mentioned. Almost 4,000 women-owned businesses reported receiving loans. The law firm Boies Schiller Flexner, whose chairman David Boies has represented powerful clients such as former Vice President Al Gore in the Bush v. Gore Supreme Court case, received between $5 million and $10 million. The House of Representatives followed the Senate in passing a measure Wednesday to extend the program's application deadline from June 30 to Aug. 8. - profiles and social posts The loan amount is based on the number of employees and average payroll costs, and while at least 60% of the loan must be used for payroll, the other 40% can be used for interest on mortgages, rent and utilities. The US government recently added a second round of $310 billion to PPP loan program. U.S. Secretary of the Treasury Steven Mnuchin testifies with Jovita Carranza, Administrator U.S. Small Business Administration during the Senate Small Business and Entrepreneurship Hearings to examine implementation of Title I of the CARES Act on Capitol Hill on June 10, 2020 in Washington, DC. According to DOR spokesman Jacob Manley, the agency has sent out checks to 11,905 businesses for a total of $23.6 million, which isabout a third of what the program was supposed to distribute. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to email a link to a friend (Opens in new window), Legislatures top leaders test positive for coronavirus, Creative Commons Attribution-NoDerivatives 4.0 International License, Proudly powered by Newspack by Automattic. Look for the "Republish This Story" button underneath each story. Doctors offices, restaurants and car dealers were the top businesses in Mississippi to receive loans from the $2 trillion coronavirus relief package signed into law this spring. [The full list is available on the Small Business Administration website, which you can access here.]. Seventeen Mississippi businesses received between $5 million and $10 million, the top loan amount, with about 120 more receiving between $2 million and $5 million. Restaurant chains like P.F. Mississippi businesses that applied for and received a loan as part of a national effort to save small companies during the coronavirus pandemic is now public information. Mississippi Today published info on many of the businesses receiving money last summer, but the Small Business Administration has since made public more information on PPP recipients following a lawsuit from the Washington Post and other outlets. Trusted Partners Your Business? Staff Report Published 6:37 p.m. CT July 8, 2020, If you are a small business owner and have not yet applied for a Paycheck Protection Program (PPP) loan yetAccording to Business Insider, you may be out of luck and too late to receive funding. Frank has served his community in both elected and appointed public office, hosted his own local radio and television programs, and managed private businesses all while being an engaged husband and father. Grace Pateras and Joe Harrington contributed to this story. Does something look fishy to you? He is a frequent guest on radio and television, providing insight and commentary on the inner workings of the Magnolia State. On average, businesses in the state received about $7,000 per employee. Neel-Schaffer, an engineering and construction management firm based in Jackson, said in a statement that the company was grateful for the help, which allowed it to keep 354 jobs, according to PPP data. Gov. The program caps forgiveness for salaries at $100,000 per employee, more than twice the states median household income. Click hereto download Paycheck Protection Program loan data by state for loans of $150,000 and above. The SBA's list divides the PPP loan recipients . The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). Dig Deeper: See the full searchable list of who received Mississippi PPP loans. The Ayn Rand Institute received a loan and defended it on Twitter. According to Business Insider, you may be out of luck and too late to receive funding. Disbursements to Mississippi businesses ranged from $100 to a $10 million loan, which went to Staff Pro LLC, an employment agency in Gulfport. - Fillmore County Journal, Why Are Members of Congress Allowed to Trade Stocks? Yet that rate varies greatly; J&W Transport LLC, a trucking company in Jackson, received a loan of over $260,000 to pay one employee. The sum total of loans amounts to in excess of $521 billion, and in a statement, Treasury Secretary Steve Mnuchin remarked, "The PPP is providing much-needed relief to millions of American small . Last month, Congress passed a bill easing the terms for how businesses can use the funds and qualify for forgiveness. Look for the "Republish This Story" button underneath each story. In addition, the data provides information regarding the sizes of participating lenders and participation by community development financial institutions, minority depository institutions, Farm Credit System institutions, fintechs and other nonbanks, and other types of lenders. The goal is to fund small businesses that have been economically impacted due to the coronavirus pandemic.