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. Here's What's Wrong With Ayn Rand's Philosophy - The Objective Standard, Did the John Birch Society Win in the End? More than 45,000 loans worth nearly $3.2 billion were approved in Mississippi by the Small Business Administration, according to Mississippi Bankers Association. The goal is to fund small businesses that have been economically impacted due to the coronavirus pandemic. Based on data from National Weather Service and OpenWeather. The Mississippi Department of Revenue is in charge of distributing $60 million to businesses that were forced to close by the governor's orders. Any web site our stories appear on must include a contact for your organization. - 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? A former Mississippi prison guard has been sentenced to three years of probation for COVID relief fraud. Data on who got them was recently released after pressure from news organizations and lawmakers. 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. No city is better suited to serve as a hub for innovation and growth than Gulfport, Mayor Hewes writes. The largest loans were only. 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. Grace Pateras and Joe Harrington contributed to this story. Northeast wind 0 to 5 mph. Click - Vox.com, Conservative Theologically, but Liberal Politically | Gene Veith - Patheos, Who is Jonathan Swan, the reporter who grilled Trump? But about 3,500 Mississippi businesses that received PPP loans said they would retain zero jobs with the money. following organizations: Whoops! Report it to the Small Business Administrations with just a few clicks. The SBA states that the PPP program is designed to help small businesses keep workers on payroll. Internationally, South Korean airline Korean Air received a PPP loan. At least two casino companies and a pair of yacht clubs on the Coast received funds as well. Narrow the list by typing in a business or city name. John Farrell, a Republican donor and real estate developer also received a PPP loan. 2023 CNBC LLC. - Left Foot Forward, Frank Lloyd Wright Left 660 Unbuilt Designs And an Innovative New Project Brings Three of Those to Life - InsideHook, American Familia: David Morales on Grit, Self-Reliance, and the American Dream | Kerry McDonald - Foundation for Economic Education, Top 10 buildings in fiction - The Guardian, Trump can now count on Thiel, the hi-tech billionaire who finances his revenge Corriere.it - D1SoftballNews.com, Objectivism Q&A with Ben Bayer and Mike Mazza - New Ideal, Leftists And So-Called Christian Leaders Embrace Abortion As 'Sacred' - The Federalist, A Companion to Ayn Rand Now in Paperback - New Ideal, Happy birthday to the great Ayn Rand Daily Breeze, Randy Alcorn: Whats Wrong with America? Bankers, lawyers, and consultants told Business Insider that the volume of pre-approved loans will soak up the second round of funding.If you don't receive emergency government funding, it's suggested for small businesses to seek funding through tax relief, private companies, local governments, and organizations offering small business grants. Below is a chart of the types of businesses receiving the most money in Mississippi: var divElement = document.getElementById('viz1594145011552'); var vizElement = divElement.getElementsByTagName('object')[0]; if ( divElement.offsetWidth > 800 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else { vizElement.style.width='100%';vizElement.style.height='727px';} var scriptElement = document.createElement('script'); scriptElement.src = 'https://public.tableau.com/javascripts/api/viz_v1.js'; vizElement.parentNode.insertBefore(scriptElement, vizElement); Some Mississippi borrowers receiving between $5-$10 million in those categories include GI Associates, a gastroenterology group in Flowood, Ridgeland-based law firm Butler Snow, and two restaurant companies, Mid River Restaurants in Natchez and The Retzer Group in Greenville. Those loans represent nearly three-fourths of total loan dollars approved, but a far smaller proportion of the number of actual loans. On average, businesses in the state received about $7,000 per employee. To republish online, simply click the button, copy the html code and paste into your Content Management System (CMS). By industry: Millsaps, Tougaloo and Rust colleges each receivedbetween $2 million and $5 million. More than $4 billion in PPP loans have now made its way to Mississippi after Congress approved another round of federal support this year. U.S. Imports and Bills of Lading for Franklin Corporation, U.S. Imports and Bills of Lading for Jindal Tubular USA LLC, U.S. Imports and Bills of Lading for Behold Washington, LLC, U.S. Imports and Bills of Lading for Corinthian Inc. U.S. Imports and Bills of Lading for Van Zyverden Inc. Power and Communication Line and Related Structures Construction, Professional, Scientific, and Technical Services, Household Furniture (except Wood and Metal) Manufacturing, Offices of Physicians (except Mental Health Specialists), Iron and Steel Pipe and Tube Manufacturing from Purchased Steel, Upholstered Household Furniture Manufacturing, Other Heavy and Civil Engineering Construction, Oil and Gas Pipeline and Related Structures Construction, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance, Other Services (except Public Administration), The First, A National Banking Association, Southern Electric Corporation Of Mississippi, Administrative and Support and Waste Management and Remediation Services, Prefabricated Metal Building and Component Manufacturing. Secret IRS data shows it's paying off - Salon, Heres hoping this USC/UCLA-Big Ten merger careens off the track, crashes and burns | Jones - PennLive, LETTER: Thank cadre deployment and BEE for the mess - BusinessLIVE, Why The Racist Left Smears Clarence Thomas As An 'Angry Black Man' - The Federalist, This Is the Most Important Decision You Can Make To Increase Sales Right Now! John Farrell, a Republican donor and real estate developer also received a PPP loan. Political organizations also received loans: The Ohio Democratic Party got at least $150,000 and the Florida Democratic Party Building Fund got at least $350,000, while the Women's National Republican Club of New York got at least $350,000, the Black Republican Caucus in Florida got at least $150,000. The Land Title Association of Mississippi is a professional association dedicated to creating an environment which enables its members to provide the public with the highest quality land title evidencing, title insurance and settlement services. On average, businesses in the state received about $7,000 per employee. We are particularly pleased that 27% of the programs reach in low and moderate income communities which is in proportion to percentage of population in these areas. We believe that an informed Mississippi is a better Mississippi. Seventeen Mississippi businesses received between $5 million and $10 million, the top loan amount, with about 120 more receiving between $2 million and $5 million. The loan data also include demographics of the borrowers, although most businesses left those fields blank. For PPP Loans under $150,000 in Mississippi click here. All rights reserved. Southern States Utility Trailer Sales Inc. Staff Report Published 6:37 p.m. CT July 8, 2020, If you are a small business owner and have not yet applied for a Paycheck Protection Program (PPP) loan yetAccording to Business Insider, you may be out of luck and too late to receive funding. 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. Yet dozens of large national chains came away with millions in loans on behalf of their Mississippi locations; McDonalds, for instance, received $14.8 million to support 28 locations in the state, despite being a multinational corporation that made $4.7 billion in profit last year. 2023 www.clarionledger.com. By clicking submit, you agree to share your email address with Mississippi Today. 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. It lowered the share of the loan that a company must spend on payroll and gave them a longer period of time to use the money. Bankers, lawyers, and consultants told Business Insider that the volume of pre-approved loans will soak up the second round of funding. On average, businesses in the state received about $7,000 per employee. Republish our articles for free, online or in print, under a Creative Commons license. In Mississippi, nearly all 96% of loans were directed towards payrolls. Internationally, South Korean airline Korean Air received a PPP loan. Bankers, lawyers, and consultants told Business Insider that the volume of pre-approved loans will soak up the second round of funding.If you don't receive emergency government funding, it's suggested for small businesses to seek funding through tax relief, private companies, local governments, and organizations offering small business grants. $1M - $2M: 291 Recipients. There was an error and we couldn't process your subscription. For the most part, Mississippis recipients were small individual businesses over 80% reported 10 or fewer employees, and only 1% were part of a franchise. The sum total of loans amounts to in excess of $521 billion, and in a statement, Treasury Secretary Steve Mnuchin remarked, "The PPP is providing much-needed relief to millions of American small . The program has about $132 billion in funding remaining. More than 50 individual churches received $150,000 or more. Butler Snow, among the state's most powerful law firms, was able to retain 486 jobs thanks to the $5-10 million it received, according to PPP data. This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License. PPP Loans List. Why PPP Loan Recipients in Mississippi Could Be at Risk The program caps forgiveness for salaries at $100,000 per employee, more than twice the states median household income. 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. The Roman Catholic dioceses in California, New York, Nevada, Tennessee and Kentucky also received loans. The law firm where House Speaker Philip Gunn works, Wells Marble & Hurst, received between $350,000 and $1 million. Aaron E. Henry Community Health Services Center, Inc. Administration of Urban Planning and Community and Rural Development, Iron and Steel Mills and Ferroalloy Manufacturing, Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing, Automotive Body, Paint, and Interior Repair and Maintenance, Asphalt Paving Mixture and Block Manufacturing, Wine and Distilled Alcoholic Beverage Merchant Wholesalers, Administrative Management and General Management Consulting Services, Manufactured Home (Mobile Home) Manufacturing, Promoters of Performing Arts, Sports, and Similar Events without Facilities, Oil and Gas Field Machinery and Equipment Manufacturing, Other Support Activities for Air Transportation, Cowboy Maloney Appliance, Audio, VIdeo Centers, Inc. In Mississippi, 17 businesses received loans between $5-$10 million, the highest range of funding. You can search the SBA's entire PPP loan data below. - Federal Regulations Advisor, The Daily Cartoon and Live Briefing: Monday, May 9, 2022 - FlaglerLive.com, Victory at San Jacinto liberated the individual | Opinion | jacksonvilleprogress.com - Jacksonville Daily Progress, RUSH's GEDDY LEE Says NEIL PEART 'Didn't Want Anyone To Know' About His Illness: 'He Wanted To Keep It In The House' - BLABBERMOUTH.NET, The Alternative Meat Industry Wants Solar Power Style Mandates And Subsidies - Science 2.0, diSConnected: Is Ayn Rand or Mother Teresa better for protecting South Carolinians with disabilities? 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. Under the law, Mississippi received $1.25 billion. With your help, we've gotten a lot done but we're not finished yet! Otherwise, it carries a 1 percent interest rate and must be repaid within two years. The US government recently added a second round of $310 billion to PPP loan program. Franks interviews, articles, and columns have been shared throughout Mississippi as well as in national publications such as the Daily Caller. In total, Mississippi businesses received between $2.5 billion and $4.4 billion in loans, spread across 45,000 recipients loans of $150,000 or larger are only disclosed in ranges. Staff Report Published 6:37 p.m. CT July 8, 2020, If you are a small business owner and have not yet applied for a Paycheck Protection Program (PPP) loan yetAccording to Business Insider, you may be out of luck and too late to receive funding. We center readers in everything we do, informingand engagingMississippians through reporting, podcasts, events and online communities. Gov. Businesses in California ,Texas and New York that received loans reported having about 4.1 million, 2.7 million and 2 million total employees, respectively. World-class Experience The Skip team prides itself on giving you the attention and assistance your small business deserves.