There were 24 PPP loans issued in Tennessee during the week ending May 24. 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 |
|---|---|---|
| Jobsite Steel Manufacturing, LLC | 2020-05-18 | $1-2 million |
| Friendship Home Solutions, Inc. | 2020-05-18 | $350,000-1 million |
| Augustine School, Incorporated | 2020-05-18 | $150,000-350,000 |
| Clearview Glass & Glazing Contractors of Tennessee, LLC | 2020-05-18 | $150,000-350,000 |
| Habitat for Humanity Williamson-Maury | 2020-05-18 | $150,000-350,000 |
| Nehemiah Ventures Corporation | 2020-05-18 | $150,000-350,000 |
| Vaughn Contractors, Inc. | 2020-05-19 | $350,000-1 million |
| Cobb Plumbing Company, Inc. | 2020-05-19 | $150,000-350,000 |
| Creative Restaurants, Inc. | 2020-05-19 | $150,000-350,000 |
| Loyalty Transportation Group, LLC | 2020-05-19 | $150,000-350,000 |
| Flash Staffing, LLC | 2020-05-20 | $1-2 million |
| Relode, LLC | 2020-05-20 | $350,000-1 million |
| Ace Pump Corporation | 2020-05-20 | $150,000-350,000 |
| Allergy and Asthma Specialists of Memphis, P.C. | 2020-05-20 | $150,000-350,000 |
| Chamberlin Clinic, P.A. | 2020-05-20 | $150,000-350,000 |
| Hamilton Equipment Company, Inc. | 2020-05-20 | $150,000-350,000 |
| Collierville Nursing and Rehabilitation, LLC | 2020-05-21 | $350,000-1 million |
| Tennessee Personal Assistance, Inc. | 2020-05-21 | $350,000-1 million |
| The ARC of the Mid-South | 2020-05-21 | $350,000-1 million |
| Keck Enterprises, Inc. | 2020-05-21 | $150,000-350,000 |
| Mid-South Area Residential Services, Inc. | 2020-05-21 | $150,000-350,000 |
| Ronald E Whitford | 2020-05-21 | $150,000-350,000 |
| Vintage Health Resources, Inc. | 2020-05-22 | $1-2 million |
| Tennessee Precision, Inc. | 2020-05-22 | $350,000-1 million |
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