Business, Coronavirus, News

Paycheck protection program loans in the Triangle

Photo by Kaique Rocha | via Pexels

ICYMI — the application period for the federal Paycheck Protection Program (PPP) has been extended to Saturday, August 8. Small businesses can still apply for assistance up until that date.

Earlier this week, the Small Business Association (SBA) released data showing which businesses across the country have received the highest payouts from PPP — including companies and nonprofits that have received $150,000 or more

PPP recipients in Raleigh | via Open the Books

Open the Books (a Chicago-based nonprofit committed to the transparency of government spending) has also created a searchable map so you can view all the small businesses that have received funding in your neighborhood.

Did you know? Approximately 25% of all PPP loans issued in NC so far have gone to companies in the Triangle

Here are the top recipients in our area:

  • Westgate Auto Group | loan range: $2-5 million | 314 employees retained
  • William Peace University | loan range $2-5 million | 357 employees retained
  • Workplace Options | loan range $2-5 million | 398 employees retained
  • 1020 Enterprises | loan range $1-2 million | 164 employees retained
  • AAG Raleigh | loan range $1-2 million | 82 employees retained
Highest PPP recipients in NC | via The News & Observer + Caspio

Plus some other names you might recognize:

  • Bailey’s Fine Jewelry | loan range: $1-2 million | 186 employees retained
  • Care First Animal Hospital | loan range: $1-2 million | 6 employees retained
  • Fat Daddy’s Market and Grill | loan range: $1-2 million | 75 employees retained
  • Girl Scouts of NC, Coastal Pines | loan range: $1-2 million | 345 employees retained
  • Hibernian Employee Group | loan range: $1-2 million | employee information unavailable

The largest lenders of PPP loans in our state are Truist, First Citizens Bank, Pinnacle Bank, PNC + FNB

Want to learn more about PPP loans for your small business? Click here.