On July 6, 2020, the federal government released the names of 45,815 companies and organizations in Mississippi that received Paycheck Protection Program (PPP) loans, which were designed to keep the economy afloat during the coronavirus. The vast majority of those companies taking part in the program – some 38,035 organizations – received PPP loans less than $150,000. Some 3,890 Mississippi companies received PPP loans in excess of $150,000. Those in excess of $150,000 break down as follows:
- $5M – $10M: 16 Recipients
- $2M – $5M: 118 Recipients
- $1M – $2M: 291 Recipients
- $350K – $1M: 1,107 Recipients
- $150K – $350K: 2,358 Recipients
The spectrum of businesses receiving PPP loans crossed practically every segment of the Mississippi economy. Included in the data were car dealerships, nonprofit organizations, churches, oil and gas industry support companies, medical practices, zoos, law firms, and colleges.
Some members of the land title industry were among the recipients, as there were at least 5 loans to title companies (closing offices) in the $150,000 to $350,000 bracket.
You can review the data set released by Treasury and SBA to learn more about Mississippi PPP recipients.