Which Phoenix Businesses Got PPP Loans

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Which Phoenix Businesses Got PPP Loans

PHOENIX, AZ – The state paycheck protection program applications closed after benefiting more than 11.8 million pandemic-hit businesses, as well as many in Phoenix. The Paycheck Protection Program began in April 2020 as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES) and has been extended to May 31, 2021. In 2021 alone, 89,715 PPP loans were approved in Arizona, based on the Small Business Administration. The total allowable amount for 2021 was 3,871,793,005. Loan purposes were processed by banks and various conventional lenders, with the SBA supporting the resulting loans. Under this system, around $ 800 billion in loans had been approved nationwide. The loans are forgivable when the debtors meet certain standards and spend no less than 60% of the money on salary prices and maintaining employee compensation margins. Below are some Phoenix companies that have benefited from this SBA-based system. Here is a complete, searchable database. LEWIS ROCA ROTHGERBER CHRISTIE LLP Phoenix, AZ, 85004 Approval Amount: $ 4,205,500 Reported Jobs: 208 Award Amount: $ 4,255,849 SOUTHWEST NETWORK Phoenix, AZ, 85004 Approval Amount: $ 3,995,000 Reported Jobs: 373 Apology Amount: $ 4,039,167 Phoenix , INTEGRATE AZ 85NC .EGRATE AZ Approval Amount: $ 3,698,377 Jobs Reported: 193 Award Amount: $ 3,742,141 JONES, SKELTON & HOCHULI, PLC Phoenix, AZ, 85004 Approval Amount: $ 3,607,750 Jobs Reported: 193 Award Amount: $ 3,647,880 FITNESS ALLIANCE, LLC Phoenix, AZ, 8500478.4 USD Amount: Reported: 500 Award Amount: $ 3,516,054 VALLEY OF THE SUN CHRISTIAN ASSOCIATION OF THE YOUNG MEN Phoenix, AZ, 85003 Approval Amount: $ 3,142 .200 Reported Jobs: 363 SOLERA HEALTH, INC. Phoenix, AZ, 85003 Approval Amount: $ 3,080,639 Jobs Reported: 113 JENNING, PLC Phoenix, AZ, 85004 Approval Amount: $ 3,025,100 Reported Jobs: 161 Nationwide, the Accommodation / Catering Services Industry generated the most increases in proportion of credit in 2021 with 15% of the total credit. Around 87% of the loans approved in 2021 were $ 50,000 or much less, making up a third of the total approved amount. The usual size mortgage was $ 42,000. The program was not without controversy. According to a New York Times review, banks tended to prioritize large, established companies. Congress levied small loan fees in December to encourage lenders to lend to small businesses, and in February the guidelines were changed to allow unprofitable sole proprietorships. Several giant corporations caught public anger after it was revealed that they had taken out PPP loans instead of relying on conventional fundraising measures. The outcry caused the SBA to review and control all mortgage purposes over $ 2 million that this system was intended for companies that did not have access to various fundraising strategies. Editor’s Note: This listing was routinely compiled using the knowledge of the SBA for eligible loans of $ 150,000 or more, although some loans ended up not being granted. Commercial building owners can contact the SBA if details of a mortgage are not appropriate. Knowledge of SBA often takes into account duplicate entries. Other suggestions will be sent to the content [email protected]

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