Coronavirus, News

Paycheck protection program loans in Asheville, NC

small-business-ppp-loans-avltoday-asheville-nc
Photo by @overasheville

ICYMI — the application period for the federal Paycheck Protection Program (PPP) has been extended to Saturday, August 8. Small businesses can still apply for assistance up until that date.

Earlier this week, the Small Business Association (SBA) released data showing which businesses across the country have received the highest payouts from PPP — including companies and nonprofits that have received $150,000 or more

Open the Books (a Chicago-based nonprofit committed to the transparency of government spending) has also created a searchable map so you can view all the small businesses that have received funding in your neighborhood.

Did you know? Over 16,000 employers in NC received PPP loans of at least $150,000. Less than 11% of small businesses in North Carolina have received PPP loans, making it the third lowest percentage in the country. 

Here are some of the top recipients in our area:

  • Allergy Partners PLLC | loan range $5-10 million | 500 employees retained
  • Tupelo Honey Hospitality Corporation | loan range: $5-10 million | 500 employees retained
  • Skyland Distributing Company, Inc. | loan range $2-5 million | 216 employees retained
  • YMCA of WNC | loan range $2-5 million | employee information unavailable
  • Moog Music Inc. | loan range $1-2 million | 157 employees retained

Plus some other names you might recognize:

  • Alan’s Jewelry & Pawn-Inc  | loan range: $350,000-1 million | 50 employees retained 
  • Appalachian Mountain Community Health Centers | loan range: $1-2 million | 101 employees retained
  • Eliada Homes, Inc.  | loan range: $1-2 million | employee information unavailable
  • French Broad Chocolates LLC | loan range: $350,000-1 million | 90 employees retained 
  • Prestige Motors of Asheville, Inc | loan range: $1-2 million | 81 employees retained
  • Katie Button Restaurants, LLC | loan range: $1-2 million | employee information unavailable

The largest lenders of PPP loans in our state are Truist, First Citizens Bank, Pinnacle Bank, PNC + FNB