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Any amount helps us keep producing quality journalism for Mississippi. On average, businesses in the state received about $7,000 per employee. Those loans represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. The private equity firm. Just look at shares of one of the largest office REITs, whenheoriginallyimplied that theTrump administration would not disclose the names of participants, tried to take the restaurant chain public, More than $30 billion in loans were returned overall, forced to close shop as result of the pandemic. A handful of Mississippi's private colleges also received assistance. "The CARES Act was an umbrella act that distributed tons of money. 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. $350K - $1M: 1,107 Recipients. Under the law, Mississippi received $1.25 billion. - Gold Derby, Books review: What to read in October - Reader's Digest, Democrats dig the graves of freedom and prosperity - Washington Times, Baseball and Yom Kippur: Is there a Koufax curse? 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. 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. 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. We're dedicated to keeping Mississippians informed with our thorough reporting. Got a confidential news tip? Bankers, lawyers, and consultants told Business Insider that the volume of pre-approved loans will soak up the second round of funding. - Study Breaks, Get Ready for a Week of Unhinged Attacks on Biden and Harris - The Bulwark. 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. There was an error and we couldn't process your subscription. Across the country, more than 660,000 businesses received $150,000 or up to the $10 million maximum from the small-business lending program. The average amount was about $69,000, the lowest in the country. Disbursements to Mississippi businesses ranged from $100 to a $10 million loan, which went to Staff Pro LLC, an employment agency in Gulfport. So did theLos Angeles Lakers. Release from the U.S. Department of Treasury. For PPP Loans under $150,000 in Mississippi click here. 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. 2023 Magnolia Tribune. a proud member of the 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. On July 6, 2020, the federal government released the names of 45,815 companies and organizations in Mississippi that received Paycheck Protection Program (PPP) loans, which were designed to keep the economy afloat during the coronavirus. Click - and much more! We center readers in everything we do, informingand engagingMississippians through reporting, podcasts, events and online communities. The company is investing $2.4 million in their Mississippi operation and adding 32 new jobs. The Roman Catholic dioceses in California, New York, Nevada, Tennessee and Kentucky also received loans. About 87% of the loans were for less than $150,000, according . According to the data set, these loans will allow the businesses to retain a total of 412,492 jobs. Mississippi PPP Funded Companies This directory is composed of all companies that have received loans under the Paycheck Protections Program according to data provided by the U.S. Treasury. 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. No city is better suited to serve as a hub for innovation and growth than Gulfport, Mayor Hewes writes. $150K - $350K: 2,358 Recipients. Of the money, $240 was designated for a small business grant program, called Back to Business Mississippi, and businesses impacted by COVID-19 are eligible for up to $25,000 of grant money to cover certain expenses. If you share our stories on social media, please tag us in your posts using. Medical businessessuffered deep revenue losses during the pandemic as normal lucrative procedures and treatments were put on pause to handle the virus. The program caps forgiveness for salaries at $100,000 per employee, more than twice the states median household income. Republish our articles for free, online or in print, under a Creative Commons license. 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. A Division of NBCUniversal. Trusted Partners Your Business? Does something look fishy to you? Global Business and Financial News, Stock Quotes, and Market Data and Analysis. You have to credit Mississippi Today. There is not an exact figure because many of these loans are disclosed in ranges. a proud member of the The law firm said in a statement that all of its employees across 12 states kept their jobs with no pay cuts. Mississippi companies reported the aid will help them retain about 412,000 jobs about one-third of the state's total workforce. Report it to the Small Business Administrations with just a few clicks. Otherwise, it carries a 1 percent interest rate and must be repaid within two years. The vast majority of those companies taking part in the program some 38,035 organizations received PPP loans less than $150,000. - two free years of archived e-Editions 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? Niche movie theater chain Alamo Drafthouse received a loan of at least $5 million. The goal is to fund small businesses that have been economically impacted due to the coronavirus pandemic. - UnHerd, Advice: Im a woman of color often overlooked at work until people realize I outrank them - The Boston Globe, Ayn Rand | Biography, Books, & Facts | Britannica, Gen Z is looking for meaning this holiday season, but maybe not where we expect - Religion News Service, Cryptocurrency and the Shocking Revelation That White Supremacists Like Money - tntribune.com, Seahawks vs Texans Week 14 Picks and Predictions: Learning To Fly Again - Covers, Forza Horizon 5s amazing intro shows why its a huge hit on Game Pass - Polygon, Celeb Shelf: Instead of scrolling through my phone I read a book, shares actor-turned-author Jugal Hansraj - Free Press Journal. The U.S. government has released a list of businesses that have received emergency pandemic loans of $150,000 or more. In Mississippi, nearly all 96% of loans were directed towards payrolls. Narrow the list by typing in a business or city name. 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. - Looper, Soul Review: Life, and How to Live It - Rolling Stone, Defending Ayn Rand's Reputation in the Media - New Ideal, Letter: Only 'We' can save the world | Letters to the Editor - Daily Herald, Pandemic and the prisoner's dilemma - DTNext, From the Rubble of Atlases, a Colossus Will Rise - The New York Times, Trump's America Remains Stuck in the Shadow of Reagan - Boston Review, The Tories are divided between libertarians and authoritarians. Lawmakers drew up a list of specific industries and estimated that there were about 30,000 small business within those industries. - South Carolina Public Radio, Did the John Birch Society Win in the End? Meanwhile, 78 white business owners received loans for at least $1 million. Alex Rozier, from New York City, is Mississippi Todays data and environment reporter. PPP loans helped businesses retain nearly 48,000 employees in our state. - 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? You cant edit our stories, except to reflect relative changes in time, location and editorial style. His work has appeared in the Boston Globe, Open Secrets, and on NBC.com. The program has about $132 billion in funding remaining. - Daily Herald, The Strange and Terrifying Ideas of Neoreactionaries Current Affairs - Current Affairs, Martin Scorsese, Objectivism, Relativism, and How We Read Cinema - No Film School, Ayn Rand, Objectivists, and COVID - Science Based Medicine, Ayn Rand vs. Loan Range No. 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. Click hereto download Paycheck Protection Program loan data by state for loans of $150,000 and above. - 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. But about 3,500 Mississippi businesses that received PPP loans said they would retain zero jobs with the money. Businesses in economically distressed areas as designated by the SBA got nearly 23% of the loan money, while companies in rural areas received about 15% of the funds. This is NOT a directory of companies that received a loan using SBA.com loan request service. On average, businesses in the state received about $7,000 per employee. The U.S. government. You can search the SBA's entire PPP loan data below. Enjoy! Clarification: The story has been edited to clarify that franchisees of national chains applied and received PPP loans rather than the chains corporate bodies. 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. - South Carolina Public Radio, Boris Johnsons Covid bravado insults the NHS and the public - The Guardian, The criticism facing Rishi Sunak has nothing to do with race, and all to do with greed - iNews, Aaron Rodgers Loves Ayn Rand's Atlas Shrugged and We're Not Shocked - Esquire, Boris Johnson and the woeful and costly Tory war on woke - The Japan Times, Has the Great Barrington Declaration been vindicated? The woman submitted two fraudulent PPP loan applications, and was sentenced to three years of probation and ordered to pay full restitution of the fraudulently obtained loan. Those in excess of $150,000 break down as follows: The spectrum of businesses receiving PPP loans crossed practically every segment of the Mississippi economy. All rights reserved. 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. 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. PPP Loan Recipient List By State Mississippi 138,392 TOTAL PPP LOANS $5.4B TOTAL LOAN AMOUNT $39,226 AVERAGE PPP LOAN 5 AVG COMPANY SIZE Mississippi has a total of 138,392 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. Email Frank: frank@magnoliatribune.com. CNBC's Kate Rogers, Betsy Spring, Kevin Breuninger and Kayla Tausche contributed to this report. !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: In 2020, Mississippi Today sought a Paycheck Protection Program loan, which was approved and disbursed. The Associated Press contributed to this report. Changs, Legal Sea Foods and Silver Diner either received PPP loans or had investors connected to the company that did. 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. Ambassador to Tanzania. The biggest loans went toconstruction contractors such as F.L. All Rights Reserved. - Scuttlebutt Sailing News, Bill Maher Addressed an Eventful Political Week on Real Time - InsideHook, Letter: The rules of life are very simple - Detroit Lakes Tribune, The Banality of Putin and Xi | Yaron Brook and Elan Journo - IAI, American culture is destroying itself, and the planet, says leading activist Bill McKibben - Yahoo Philippines News, Is Discussing the Consequences of Anti-Vaccine Disinformation Fun? 2023 www.clarionledger.com. Help us crowdsource fraud detection in the PPP program! 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. On average, businesses in the state received about $7,000 per employee. The U.S. government has released a list of businesses that have received emergency pandemic loans of $150,000 or more. The Ayn Rand Institute, named for the objectivist writer cited as an influence on libertarian thought, was approved for $350,000 to $ 1 million. Bienville Orthopaedic Specialists, L.L.C. The data only identifies companies with loans worth more than $150,000. On average, businesses in the state received about $7,000 per employee. The largest loans were only. John Farrell, a Republican donor and real estate developer also received a PPP loan. Changs, Legal Sea Foods and Silver Diner either received PPP loans or had investors connected to the company that did. 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. Posted on February 27, 2023 by laguardia airport food terminal c $1M - $2M: 291 Recipients. TGI Fridays, which is backed by private equity firm TriArtisan Capital Advisors, received at least $5 million. By clicking submit, you agree to share your email address with Mississippi Today. Both businesses were approved to receive between $150,000 and $350,000 each. 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. - profiles and social posts If you share our stories on social media, please tag us in your posts using. 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. Jared Kushner's parents' family foundation supports the school, NBC News reported. In Mississippi, 17 businesses received loans between $5-$10 million, the highest range of funding. 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 .
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