Almost 4,000 women-owned businesses reported receiving loans. 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. - The Atlantic, The Fountainhead Reading Group with Andrew Bernstein - The Objective Standard, Copyright 2000 to 2023 Prometheism Transhumanism Post Humanism. by Alex Rozier, Mississippi Today April 30, 2021, This and is republished here under a Creative Commons license.
. The goal is to fund small businesses that have been economically impacted due to the coronavirus pandemic. Any web site our stories appear on must include a contact for your organization. The Roman Catholic dioceses in California, New York, Nevada, Tennessee and Kentucky also received loans. a proud member of the 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. The Associated Press contributed to this report. We believe that an informed Mississippi is a better Mississippi. By clicking submit, you agree to share your email address with Mississippi Today. This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License. The SBA's list divides the PPP loan recipients . Click hereto download Paycheck Protection Program loan data by state for loans of $150,000 and above. We prefer Author Name, Mississippi Today in the byline. 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. Three Hispanic, two Asian and zero American Indian businesses reported receiving at least that amount. On average, businesses in the state received about $7,000 per employee. All rights reserved. Chao is the wife of Senate Majority Leader Mitch McConnell, R-Ky. Perdue Inc., a trucking company co-founded by Agriculture Secretary Sonny Perdue, was approved for $150,000 to $350,000 in loan money. Many colleges have taken a financial hit after refunding students for room, board and other fees that come with attending class in-person. The loan data also include demographics of the borrowers, although most businesses left those fields blank. Millsaps, Tougaloo and Rust colleges each receivedbetween $2 million and $5 million. Lawmakers have also pushed to find out if politicians or their families' have taken on funds from the program. We center readers in everything we do, informingand engagingMississippians through reporting, podcasts, events and online communities. The private equity firm. No city is better suited to serve as a hub for innovation and growth than Gulfport, Mayor Hewes writes. Summary of PPP Loans in Mississippi. 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. Get this delivered to your inbox, and more info about our products and services. Designed to cover expenses such as payroll and rent, the loans do not have to be paid back if at least 60 percent of the money is spent keeping or rehiring workers. 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? Loan Range No. Those loans disclosed represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. a proud member of the But thousands of Magnolia State companies also got the Small Business Administration aid without promising to retain any workers. For the most part, Mississippis recipients were small individual businesses over 80% reported 10 or fewer employees, and only 1% were part of a franchise. On average, businesses in the state received about $7,000 per employee. John Farrell, a Republican donor and real estate developer also received a PPP loan. - TheArticle, Is Ethereum left and Bitcoin right? 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. Chang's China Bistro and Chop't received aid of between $5 million and $10 million. Keep this news free and accessible to all by becoming a member and giving a recurring donation of any amount today. 2023 www.clarionledger.com. TGI Fridays, which is backed by private equity firm TriArtisan Capital Advisors, received at least $5 million. In 2019, Alex was a grantee through the Pulitzer Centers Connected Coastlines program, which supported his coverage around the impact of climate change on Mississippi fisheries. Applicants in California received the most money overall with $68.2 billion, followed by Texas at $41.1 billion and New York at $38.3 billion. The SBA states that the PPP program is designed to help small businesses keep workers on payroll. With your help, we've gotten a lot done but we're not finished yet! If you do not have an existing account, you can also easily use an existing Google, Facebook or Apple account. Does something look fishy to you? The Retzer Group, which operates McDonald's franchises, got at least $5 in PPP money. 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. There were several errors in the database, so it's not clear whether all the companies listed received the funds. The goal is to fund small businesses that have been economically impacted due to the coronavirus pandemic. A pedestrian wearing a protective mask walks past a Shake Shack restaurant in Washington, D.C., U.S., on Monday, April 20, 2020. Wall Street investment groups, including Semper Capital Management LP and Domini Impact Investments LLC, which manage billions of dollars, also received PPP loans according to Reuters. 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. Enjoy! You cant edit our stories, except to reflect relative changes in time, location and editorial style. Most of those that answered were white and male-owned, shown below: Use the tables below for full lists of Mississippis PPP recipients, by business and industry. On average, businesses in the state received about $7,000 per employee. Here's What's Wrong With Ayn Rand's Philosophy - The Paul and Romney embarrass themselves by lashing out at trans athletes - Outsports, The rise and fall of Netflix - Spectator.co.uk, Wonder Woman 1984: Who plays the 'other' Steve Trevor? 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. 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. You have to credit Mississippi Today. SBA and Treasury to release names of largest PPP loan recipients. You have to credit Mississippi Today. Under the law, Mississippi received $1.25 billion. John Farrell, a Republican donor and real estate developer also received a PPP loan. Trusted Partners Your Business? Cointelegraph Magazine - Cointelegraph, Get Ready for the Great Urban Comeback - The Atlantic, Q&A: Lucas Wrench of OK #1 | The-voice | tulsapeople.com - tulsapeople.com, Twitter Had A Meltdown Over What 'Red Flags' To Look Out For On a Man's Bookshelf - Junkee, There's more than one way to deliver the mail - Newsday, Before Watching HBO's The Vow, Here's What You Need to Know About the NXIVM Cult - POPSUGAR, Who Is Keith Raniere of 'The Vow' - Where Is He Now? Internationally, South Korean airline Korean Air received a PPP loan. Todays release includes loan-level data, including business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender, jobs supported, and loan amount ranges as follows: These categories account for nearly 75 percent of the loan dollars approved. Look for the "Republish This Story" button underneath each story. Otherwise, it carries a 1 percent interest rate and must be repaid within two years. With your help, we've gotten a lot done but we're not finished yet! The disclosure comes amid demands from Democrats for more transparency around the Paycheck Protection Program, or PPP, funds established as part of the $2 trillion CARES Act, which President Donald Trump signed this spring. var divElement = document.getElementById('viz1594157587379'); 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); The data also included the demographics of borrowers, although two-thirds of the states borrowers declined to provide a gender and three-quarters declined to provide a race or ethnicity. You can review the data set released by Treasury and SBAto learn more about Mississippi PPP recipients. By joining our newsletter, you are confirming that you agree with the Privacy Policy, Frank Corder is a native of Pascagoula. Republish our articles for free, online or in print, under a Creative Commons license. Last month, Congress passed a bill easing the terms for how businesses can use the funds and qualify for forgiveness. 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 SBA released other details about the program Monday, including: The PPP's goal is to offer forgivable loans to smaller businesses, helping them to stay afloat and employees to maintain their jobs as the coronavirus puts the U.S. economy on hold. Follow him on Twitter @gbolognaCL. The spectrum of businesses receiving PPP loans crossed . Any web site our stories appear on must include a contact for your organization. His work has appeared in the Boston Globe, Open Secrets, and on NBC.com. Help keep the momentum going by rejoining our member community today. Changs, Legal Sea Foods and Silver Diner either received PPP loans or had investors connected to the company that did. You gain access to: 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. Politically, according to the Washington Post, companies with connections to a handful of federal lawmakers, like Foremost Maritime, which is a shipping business controlled by the family of Transportation Secretary Elaine Chao, have received PPP loans. Dozens of private and charter schools got aid. Most businesses applying for loans also did not disclose the gender of their ownership. $1M - $2M: 291 Recipients. Disbursements to Mississippi businesses ranged from $100 to a $10 million loan, which went to Staff Pro LLC, an employment agency in Gulfport. All rights reserved. A searchable database of federal 2020 Paycheck Protection Program loans. The loans have reached diverse communities proportionally, across all income levels and demographics. If you are an existing Print subscriber click HERE for your login info. Narrow the list by typing in a business or city name. Ambassador to Tanzania. Alex Rozier, from New York City, is Mississippi Todays data and environment reporter. Restaurant chains P.F. Grace Pateras and Joe Harrington contributed to this story. This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License. PPP loans helped businesses retain nearly 48,000 employees in our state. Otherwise, it carries a 1 percent interest rate and must be repaid within two years. The published data now include specific amounts businesses have received, as well as the names of places that got smaller loans. The published data now include specific amounts businesses have received, as well as the names of places that got smaller loans. Several other companies, shown below, received enough in loans to pay each employee over six figures. 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. Those loans represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. - Forward, The limits of Justice Ketanji Brown Jacksons power - Fortune, Race Across The World and Louis Theroux Interviews among new BBC Factual and Arts slate - Royal Television Society |, Fool Britannia: sloppy Tory treatise a hint of horrible things to come - Crikey, Day one at the Tory conference: Industry cries out for stability but U-turns and uncertainty continue - Building. 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. Numerous news organizations received PPP loans: Forbes Media got at least $5 million; The Washington Times got at least $1 million; The Washingtonian got at least $350,000; The Daily Caller received at least $350,000 and The Daily Caller News Foundation got at least $150,000; The American Prospect received at least $150,000.
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