There were 11 PPP loans issued in Missouri during the week ending June 7. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
Recipients | Date Received | Dollar Amount Received |
---|---|---|
Flores & Leon, Inc. | 2020-06-01 | $150,000-350,000 |
Qcontrive Marketing, LLC | 2020-06-01 | $150,000-350,000 |
Lloyd Industries, Inc. | 2020-06-03 | $1-2 million |
Glennon Place Management, LLC | 2020-06-03 | $350,000-1 million |
Accurate Mechanical Contractors, Inc. | 2020-06-03 | $150,000-350,000 |
Health Safety Environmental, LLC | 2020-06-03 | $150,000-350,000 |
Cabral, LLC | 2020-06-04 | $150,000-350,000 |
Lives Without Limits | 2020-06-04 | $150,000-350,000 |
Gowdy Enterprises, LLC | 2020-06-05 | $150,000-350,000 |
Warehouse Labor Solutions | 2020-06-05 | $150,000-350,000 |
A's Construction Company, LLC | 2020-06-07 | $150,000-350,000 |