Internationally, South Korean airline Korean Air received a PPP loan. Here's What's Wrong With Ayn Rand's Philosophy - The Objective Standard, Did the John Birch Society Win in the End? By industry: Search through Mississippi businesses that benefited from the Paycheck Protection Program with our database by searching below. On average, businesses in the state received about $7,000 per employee. Some members of the land title industry were among the recipients, as there were at least 5 loans to title companies (closing offices) in the $150,000 to $350,000 bracket. 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. to view this author's last article or Keep this news free and accessible to all by becoming a member and giving a recurring donation of any amount today. The bill Congress passed to replenish the program in April included $60 billion specifically for small lenders in response to concerns about businesses without a traditional banking relationship accessing loans. Any web site our stories appear on must include a contact for your organization. The spectrum of businesses receiving PPP loans crossed . In Mississippi, nearly all 96% of loans were directed towards payrolls. TGI Fridays, which is backed by private equity firm TriArtisan Capital Advisors, received at least $5 million. Medical businessessuffered deep revenue losses during the pandemic as normal lucrative procedures and treatments were put on pause to handle the virus. 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 . 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. We prefer Author Name, Mississippi Today in the byline. A searchable database of federal 2020 Paycheck Protection Program loans. 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. 2023 Magnolia Tribune. 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. Release from the U.S. Department of Treasury. Reeves: Businesses with ties to Tate Reeves received loans. The largest loans were only. John Farrell, a Republican donor and real estate developer also received a PPP loan. Those loans represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. Below is a chart of the types of businesses receiving the most money in Mississippi: var divElement = document.getElementById('viz1594145011552'); var vizElement = divElement.getElementsByTagName('object')[0]; if ( divElement.offsetWidth > 800 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else { vizElement.style.width='100%';vizElement.style.height='727px';} var scriptElement = document.createElement('script'); scriptElement.src = 'https://public.tableau.com/javascripts/api/viz_v1.js'; vizElement.parentNode.insertBefore(scriptElement, vizElement); Some Mississippi borrowers receiving between $5-$10 million in those categories include GI Associates, a gastroenterology group in Flowood, Ridgeland-based law firm Butler Snow, and two restaurant companies, Mid River Restaurants in Natchez and The Retzer Group in Greenville. Almost all of that money has yet to be distributed. by Alex Rozier, Mississippi Today April 30, 2021, This and is republished here under a Creative Commons license.
. Republish our articles for free, online or in print, under a Creative Commons license. We center readers in everything we do, informingand engagingMississippians through reporting, podcasts, events and online communities. If you do not have an existing account, you can also easily register or login with an existing Google, Facebook or Apple account. $350K - $1M: 1,107 Recipients. The jobs numbers released last week reinforced that PPP is working by keeping employees on payroll and sustaining millions of small businesses through this time.. Many colleges have taken a financial hit after refunding students for room, board and other fees that come with attending class in-person. Those loans disclosed represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. Businesses in California ,Texas and New York that received loans reported having about 4.1 million, 2.7 million and 2 million total employees, respectively. Clear, with a low around 41. PAW Patrol Wasn't Canceled. Alex Rozier, from New York City, is Mississippi Todays data and environment reporter. - InvisionMag, Republicans want kids to be bullies like Trump: The hidden agenda of the right's attack on SEL - Salon, Broaden your perspective with the '1 after 2' reading rule - Bangor Daily News. On average, businesses in the state received about $7,000 per employee. Yet dozens of large national chains came away with millions in loans on behalf of their Mississippi locations; McDonalds, for instance, received $14.8 million to support 28 locations in the state, despite being a multinational corporation that made $4.7 billion in profit last year. Copyright 2022 Winston County Journal | Terms of Use| Privacy Policy, More than $4 billion in PPP loans have now made its way to Mississippi after Congress approved another round of federal support this year. The US government recently added a second round of $310 billion to PPP loan program. Across the country, more than 660,000 businesses received $150,000 or up to the $10 million maximum from the small-business lending program. Search MS Businesses Results @lukerehmann According to Business Insider, you may be out of luck and too late to receive funding. Clarification: The story has been edited to clarify that franchisees of national chains applied and received PPP loans rather than the chains corporate bodies. - TheArticle, Is Ethereum left and Bitcoin right? Several law firms, including ones with ties to President Trump (Kasowitz, Benson & Torres) and former vice president Al Gore and film producer Harvey Weinstein (Boies Schiller Flexner) also received PPP loans. Look for the "Republish This Story" button underneath each story. The program's critics have expressed concern that the amount of untapped funds could show that rural or minority-owned businesses with weaker or no banking relationships have had trouble accessing relief money. Both businesses were approved to receive between $150,000 and $350,000 each. PPP Small Business Relief Will Likely Not Help All. Help us crowdsource fraud detection in the PPP program! Gov. Democrats have sought assurances that programs established to help Main Street sufficiently reach those who most need it. Joseph Kushner Hebrew Academy in New Jersey, which is named after Trump's son-in-law and advisor Jared Kushner's grandfather, got a loan in the range of $1 million to $2 million. Otherwise, it carries a 1 percent interest rate and must be repaid within two years. The Roman Catholic dioceses in California, New York, Nevada, Tennessee and Kentucky also received loans. His work has appeared in the Boston Globe, Open Secrets, and on NBC.com. - the ability to be paid for posting You can only publish select stories individually not as a collection. Enjoy! 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. - Left Foot Forward, Frank Lloyd Wright Left 660 Unbuilt Designs And an Innovative New Project Brings Three of Those to Life - InsideHook, American Familia: David Morales on Grit, Self-Reliance, and the American Dream | Kerry McDonald - Foundation for Economic Education, Top 10 buildings in fiction - The Guardian, Trump can now count on Thiel, the hi-tech billionaire who finances his revenge Corriere.it - D1SoftballNews.com, Objectivism Q&A with Ben Bayer and Mike Mazza - New Ideal, Leftists And So-Called Christian Leaders Embrace Abortion As 'Sacred' - The Federalist, A Companion to Ayn Rand Now in Paperback - New Ideal, Happy birthday to the great Ayn Rand Daily Breeze, Randy Alcorn: Whats Wrong with America? The vast majority of those companies taking part in the program some 38,035 organizations received PPP loans less than $150,000. Help keep the momentum going by rejoining our member community today. The program was initially rolled out in April, offering $349 billion to small businesses. The association said the "vast majority" of the loans originated at banks headquartered in the state. 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. to see all of their content. Separately, Mississippi is in the process of distributing grants to many small businesses using federal funds it received for virus relief. Lawmakers decided in mid-May to set aside $300 million of that money for small business owners. Why PPP Loan Recipients in Mississippi Could Be at Risk Companies applying had to show that "economic uncertainty makes this loan request necessary to support the ongoing operations" of the company, as well as an inability "to access other sources of liquidity, according to the SBA. 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.