The Messenger-Inquirer reported Wednesday that the U.S. authorities dispersed some 2,500 in Payroll Safety Program loans for almost $196 million to Daviess County organizations throughout the peak of the pandemic, reportedly serving to retain some 25,000 jobs.
Companies within the surrounding counties additionally benefited from taking out backed loans, although to not the identical extent.
In accordance with information from the U.S. Pandemic Response Accountability Committee (PRAC), 2,236 PPP loans for a mixed $78.Three million had been made to organizations in Hancock, McLean, Muhlenberg and Ohio counties. These backed loans, the overwhelming majority of which had been forgiven, reportedly helped retain about 10,200 jobs.
Muhlenberg County acquired essentially the most cash, with 803 loans for $34.2 million being made to entities there — reportedly serving to retain 4,500 jobs. In accordance with PRAC, the federal government forgave $32.7 million of the loans.
Ohio County acquired 10 extra loans than Muhlenberg — 813 — however acquired much less cash, $28.5 million. All however seven of these PPP loans had been totally forgiven, and PRAC says 3,700 jobs had been retained.
McLean County acquired 401 PPP loans for $9.2 million. Of these, 387 had been forgiven for a complete of $8.9 million. PRAC says this helped retain about 1,200 jobs.
Hancock County acquired the fewest PPP loans within the space — 219 for $6.Four million. All however 5 loans had been forgiven, and the full quantity of debt forgiven was $6.Three million. In accordance with PRAC, 838 jobs had been retained because of this.
The group to obtain the biggest PPP mortgage was the Ohio County Hospital Company, receiving $4,559,700, which was forgiven.
Different organizations to obtain seven-figure loans had been Ohio County’s Ritatsu Manufacturing Inc. ($1,852,125) and Younger MFG Co. ($1,737,900), in addition to Muhlenberg County’s Cellular Advertising and marketing Options ($2,044,141), Carpet Decorators Inc. ($1,582,266), Bickett Farms Partnership ($1,547,625), Dallas Jones Enterprises ($1,085,483), Ray Jones Trucking ($1,046,294) and Premium Hardwoods Inc. ($1,009,495).
By comparability, no less than 25 organizations in Daviess County acquired greater than $1 million in PPP loans.
The county PPP information shouldn’t be an exhaustive account of how the realm was affected by PPP, because it doesn’t embody loans given to companies headquartered elsewhere with space branches.
The federal government’s PPP dispersed some $792.6 billion to organizations all through the nation — $742 billion of which was forgiven.
