![]() ![]() “Anything that can help.”Ĭopyright 2020 by WJXT News4Jax - All rights reserved. But the research shows that several of the companies that have received aid have market values well in excess of 100. “We’re just depending on the help of people coming and buying and supporting us,” said co-owner Aaron Spann, who also runs a food truck by the same name.Īnd while sales are down because people are staying home more, they’re filling in the gaps with a federal PPP loan: $27,000 to keep eight employees on staff. Detailed loan information released by the Small Business Administration late on Tuesday showed that a mere 1 percent of the program’s 5.2 million borrowers those seeking 1.4 million and. New virus aid bill includes 251 billion in PPP, 60 billion to small lenders. We were able to protect employees, grow our business and take it public in 2020, and we repaid our PPP loan as soon as it was feasible. Potato Spread in Regency Square Mall haven’t stopped serving since the pandemic. We decided to apply for a PPP loan because it gave us the flexibility to withstand uncertain times while protecting our employees. Serving up superior spuds, the owners of Mr. But if a VC or PE fund is deemed to be affiliated with a company, then all. However, the median loan amount in Northeast Florida is $21,207, a much smaller piece of the pie. There is nothing in the SBA’s affiliation rules that outright prohibits PE-backed companies from receiving PPP loans. Records show the company’s restaurant operations are headquartered in New York, but their administrative/financial offices are in St. TLC Central LLC ($7,462,300) and TLC West ($7,123,900) are part of the TL Cannon Companies, owners of Applebee’s franchises nationwide. There are two related companies that got more than $10 million if the loans are combined. ![]() Three companies got loans of $10 million: The I-TEAM has analyzed government documents showing that more than 32,000 businesses have gotten federal help in Northeast Florida 14,000 in the city of Jacksonville alone.Īnd crunching the numbers, big businesses appear to be benefiting more than the local small mom-and-pop operations. ![]() “There are things like PPP that, in my opinion, there’s $140 billion sitting in the general fund, ready to go out,” said Steven Mnuchin. The treasury secretary said more help could be on the way. He’s pushing an amendment that would only help companies that can prove a substantial reduction in revenue from COVID-19.Īs of now, more than 50% of the funding nationally went to just 5% of those who received funding. Scott complained that the majority of the money is bailing out huge corporations instead of supporting small businesses. “Help the people that lost their jobs, help our small businesses, make sure our schools get open.” “What do we need to do?” he said in a radio interview. Rick Scott claimed it hasn’t been an even distribution. Shortly after seeing the data, Florida Republican Sen. government released data showing who got that help and how much each recipient took in, including restaurants, stores and services in Northeast Florida. – With business down almost across the board because of the ongoing coronavirus pandemic, local companies are relying on government PPP loans to keep them going. ![]()
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