Rich Smith 31.3K subscribers Subscribe 110K views 1 year ago Here's a breakdown of the PPP Loan Fraud List and who got a PPP Loan. The program's critics have expressed concern that the amount of untapped funds could show that rural or minority-owned businesses with weaker or no banking relationships have had trouble accessing relief money. Larger and public companies initially took advantage of loosely written language to tap the funds for themselves. Wall Street investment groups, including Semper Capital Management LP and Domini Impact Investments LLC, which manage billions of dollars, also received PPP loans according to Reuters. Your California Privacy Rights / Privacy Policy. The program caps forgiveness for salaries at $100,000 per employee, more than twice the states median household income. In three months, this Administration was able to act quickly to get funding into the hands of those who faced enormous obstacles as a result of the pandemic. Based on data from National Weather Service and OpenWeather. Look for the "Republish This Story" button underneath each story. 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 total of 45,812 loans were distributed to Mississippi leading to a reported 412,461 jobs being retained. 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. Loans Issued In Mississippi PPP Recipients Browse PPP Loans By State Mississippi Select a City for all PPP loans filed within that jouristiction, or search the entire state filings here: Show entries Search: Processing. 2023 Magnolia Tribune. The grant program is being overseen by the Mississippi Development Authority, which has contracted with a company to help run it. The loan data also include demographics of the borrowers, although most businesses left those fields blank. !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. Examining Federal Efforts to Prevent, Detect, and Prosecute Pandemic Niche movie theater chain Alamo Drafthouse received a loan of at least $5 million. The Government alleged that Mr. Martinez acquired approval to issue PPP loans as a non-bank lender and earned over $70 million in lender fees. Browse & Search CARES Act PPP Recipients by Company names The following data was provided by the SBA & US Treasury Department showing a breakdown of all the name of companies who received PPP loans over $150,000. The PPP Loan Fraud List - PPP Fraud | Who got a PPP LOAN 2021 P Mathis The Accountant 4.83K subscribers Subscribe 2.1K Share 113K views Streamed 1 year ago Are you considering applying for. - Noozhawk, Happy birthday to the great Ayn Rand - OCRegister, Letter to the editor about Clowns to the left of me, jokers to the right. The data release also includes overall statistics regarding dollars lent per state, loan amounts, top lenders, and distribution by industry. This field is for validation purposes and should be left unchanged. Help us crowdsource fraud detection in the PPP program! SBA and Treasury to release names of largest PPP loan recipients. The program has about $132 billion in funding remaining. - 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? Otherwise, it carries a 1 percent interest rate and must be repaid within two years. Search Latest PPP Loan List World-class Experience The Skip team prides itself on giving you the attention and assistance your small business deserves. Read more. No city is better suited to serve as a hub for innovation and growth than Gulfport, Mayor Hewes writes. The Roman Catholic dioceses in California, New York, Nevada, Tennessee and Kentucky also received loans. 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. Clear, with a low around 41. The goal is to fund small businesses that have been economically impacted due to the coronavirus pandemic. Other major law firms, such asForman Watkins & Krutz, Watkins & Eager,Brunini Grantham Grower & Hewes, and Schwartz and Associates, got millions of dollars through PPP. Otherwise, it carries a 1 percent interest rate and must be repaid within two years. 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. There is not an exact figure because many of these loans are disclosed in ranges. For nearly two decades, he has reported and offered analysis on government, public policy, business and matters of faith. To republish online, simply click the button, copy the html code and paste into your Content Management System (CMS). If you do not have an existing account, you can also easily use an existing Google, Facebook or Apple account. His work has appeared in the Boston Globe, Open Secrets, and on NBC.com. Trusted Partners Your Business? The company is investing $2.4 million in their Mississippi operation and adding 32 new jobs. Data is a real-time snapshot *Data is delayed at least 15 minutes. The Roman Catholic dioceses in California, New York, Nevada, Tennessee and Kentucky also received loans. California students call to remove Ronald Reagan, Margaret Thatcher busts - Campus Reform, The GOP Are Standing on Trump's Sinking Ship, But Democrats Need a Vision Beyond Electing Biden - Common Dreams, Is Donald Trump the Republican Partys future, or its past? Changs, Legal Sea Foods and Silver Diner either received PPP loans or had investors connected to the company that did. - Fillmore County Journal, Why Are Members of Congress Allowed to Trade Stocks? Mississippi PPP Fraud Attorney - John M. Colette & Associates Of the Mississippi businesses that did answer, 75 percent were male, and 83 percent were white. PPP recipient list: Which companies got PPP loans? - The Business Journals Chao is the wife of Senate Majority Leader Mitch McConnell, R-Ky. Perdue Inc., a trucking company co-founded by Agriculture Secretary Sonny Perdue, was approved for $150,000 to $350,000 in loan money. The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country, said Secretary Steven T. Mnuchin. Tate Reeves also got PPP money. 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? The U.S. government has released a list of businesses that have received emergency pandemic loans of $150,000 or more. We believe that an informed Mississippi is a better Mississippi. If you share our stories on social media, please tag us in your posts using. The Small Business Administration has released a list of businesses that have received emergency pandemic. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The published data now include specific amounts businesses have received, as well as the names of places that got smaller loans. 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. $341 Million in PPP Fraud So Far, and Counting - Small Business Trends 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. [The full list is available on the Small Business Administration website, which you can access here.]. The program was initially rolled out in April, offering $349 billion to small businesses. At least 20 Mississippi hospitals received PPP money, with numerous dentists' and doctors' offices also getting the loans. Chang's China Bistro and Chop't received aid of between $5 million and $10 million. John Farrell, a Republican donor and real estate developer also received a PPP loan. 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. More than 40% of Black small business owners wereforced to close shop as result of the pandemic. For example: trucking , hospice , television , Kasowitz Benson Torres , 90210 , Sole. To learn more about our cartoon syndication services. Most businesses applying for loans also did not disclose the gender of their ownership. Restaurant chains like P.F. Several other companies, shown below, received enough in loans to pay each employee over six figures. 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. We prefer Author Name, Mississippi Today in the byline. You have to credit Mississippi Today. Mississippi Today published info on many of the businesses receiving money last summer, but the Small Business Administration has since made public more information on PPP recipients following a lawsuit from the Washington Post and other outlets. Updated List of PPP and EIDL Loan Fraud Criminal Cases He is a frequent guest on radio and television, providing insight and commentary on the inner workings of the Magnolia State. Mississippi PPP loan recipients: See the full searchable list of who 3 On Your Side Investigates: Paycheck Protection Under Closer - WLBT Designed to cover expenses such as payroll and rent, the loans do not have to be paid back if at least 60 percent of the money is spent keeping or rehiring workers. PPP list: Who received federal loans in Mississippi? Internationally, South Korean airline Korean Air received a PPP loan. - 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? Any amount helps us keep producing quality journalism for Mississippi. Email Frank: frank@magnoliatribune.com. Some 3,890 Mississippi companies received PPP loans in excess of $150,000. On average, businesses in the state received about $7,000 per employee. Todays release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors., The PPP is an indisputable success for small businesses, especially to the communities in which these employers serve as the main job creators, said Administrator Jovita Carranza. In 2019, Alex was a grantee through the Pulitzer Centers Connected Coastlines program, which supported his coverage around the impact of climate change on Mississippi fisheries. His work has appeared in the Boston Globe, Open Secrets, and on NBC.com. Each small business was supposed to receive a $2,000 check. Designed to cover expenses such as payroll and rent, the loans do not have to be paid back if at least 60 percent of the money is spent keeping or rehiring workers. But of those that did, white-owned businesses in the state outnumbered all others that got money combined including Black, Hispanic, Asian and American Indian businesses by a five-to-one margin. a proud member of the The Ayn Rand Institute received a loan and defended it on Twitter. Classical Economists - The Objective Standard, Opinion | Demolishing the Demonic Plans of Our Enemy, and Can We Get An Amen - Common Dreams, Ayn Rand's We the Living: Back on the Silver Screenand Better Than Ever - The Objective Standard, Congress revival: Time to break free of family - The Hans India, The Financial Dark Ages Are Ending Thanks To Bitcoin - Bitcoin Magazine, Marital rape: How understanding context rather than just focusing on consent will help resolve the issue - Firstpost, Deadly Class Season 2: Is a Release Date or Rumor in the Offing on Netflix? PPP Loans List :: PPP Detective A spokesperson for the Agriculture Department said Perdue Inc., a trucking service, said the loan was for about $182,000 and supported 27 jobs. The association said the "vast majority" of the loans originated at banks headquartered in the state. Southern Air Conditioning & Supply Inc., where Reeves is a shareholder and Coker & Palmer, Inc., an insurance agency where his wife, Elee Reeves, is a financial advisor, were among the businesses from Mississippi that received money in the coronavirus outbreak, according to the federal government. More than $4 billion in loans have now made its way to Mississippi after Congress approved another round of federal support for businesses earlier this year. Scallan said the agency is still encouraging small business owners to apply for grants at the following website: www.backtobusinessms.org. Our stories may appear on pages with ads, but not ads specifically sold against our stories. Industries getting the largest share of net PPP dollars were health and social assistance, professional, scientific and technical services, construction and manufacturing.