599 Scioto County Businesses Got $65 Million in PPP Money
As mentioned in the previous report, not every local business that received a PPP loan has abused it.
The intent of the program, overall, was honorable. Those who were funded, overall, were honorable.
Under open government transparency guidelines, information on recipients of the 2020 Paycheck Protection Program by the US Small Business Administration (SBA) is a matter of public record. Here are the top 30 businesses according to the amounts received.
We have the complete list of Scioto County businesses and the amount they received available for free and instant download right here.
If the section “Employees Retained” is zero, this is because the number was not reported by the lending company.
You can report suspected fraud, waste, abuse, or mismanagement of federal funds to (800) 767-0385. In addition, you can click here to submit an online complaint with the office of the Inspector General.
There are other businesses in Scioto County that are not based locally. Those companies and numbers aren’t listed here. So, this list is the lowest and most conservative number of Federal PPP money that has flooded into our county.
The PPP loans were designed to provide assistance for small businesses to keep their workers on the payroll. PPP loans were calculated based on 2.5 times monthly payroll costs. These loans have several options of repayment. This includes deferment and even loan forgiveness.
In order to qualify for loan forgiveness, the business must use it for eligible expenses, retain employee headcount, and not reduce an employee’s wages by more than 25%.
The Small Business Administration has updated (version 6 as of 01/19/21) the loan forgiveness application. The most current application is available here.
599 Scioto County Businesses Got $65 Million in PPP Money