A clearer picture is coming into view of just how many Richmond-area companies relied on loans from the federal Paycheck Protection Program in the last few months as the coronavirus shutdown took hold.
The U.S. Small Business Administration and U.S. Treasury Department on Monday released a breakdown of the loan program, including a list of specific recipients and a range of how much money each company received.
The government’s massive trove of national numbers covered 4.9 million PPP loans made to businesses and nonprofits.
BizSense whittled that down to only those companies based in the Greater Richmond region, resulting in a list of nearly 2,400 recipients. The list above is sorted by locality and alphabetized by company name within each locality. (The file is available to download here.)
Due to privacy concerns, the government released only the names of companies that received $150,000 or more, and only a range of loan amounts received, rather than an exact amount. It also didn’t include specific financial information for the recipients.
The data includes loan amount, company name, address, jobs retained, date of loan approval and the lender that facilitated the loan.
The loan amount ranges are from $150,000-$350,000, $350,000-$1 million, $1 million-$2 million, $2 million-$5 million, and $5 million-$10 million.
An initial glance shows recipients of all shapes and sizes and from a range of industries, from restaurants, breweries and hotels, to private schools and religious organizations, and to real estate and construction firms.
The stated goal of the PPP was to allow businesses to continue to make payroll during the coronavirus shutdown.
Editor’s Note: The PPP data released by SBA reflects loans that were approved, but not necessarily dispersed. SBA said it expects to update the data over time as borrowers submit their forgiveness paperwork. The data also did not in all cases include a count of jobs retained at each recipient organization. The SBA said the PPP application asked for that number but businesses were not necessarily required to list it in order to get their loan. They will have to provide it in order to receive loan forgiveness.