There were 16 PPP loans issued in Louisiana during the week ending July 5. 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 |
|---|---|---|
| Clark Crain Autoplex of St. Francisville LA, LLC | 2020-06-29 | $350,000-1 million |
| The Robinson Group, Inc. | 2020-06-29 | $350,000-1 million |
| Blair Lamendola Supermarket, Inc. | 2020-06-29 | $150,000-350,000 |
| Crowley Carbon, Inc. | 2020-06-29 | $150,000-350,000 |
| Hair Doctors Barber Shop | 2020-06-29 | $150,000-350,000 |
| KMM Amaze Events and Reception Venue | 2020-06-29 | $150,000-350,000 |
| Lean on ME Productions | 2020-06-29 | $150,000-350,000 |
| Ridgewood Preparatory School | 2020-06-29 | $150,000-350,000 |
| Todd's Car Wash, LLC | 2020-06-29 | $150,000-350,000 |
| Southeast Restaurant Group-Main, LLC | 2020-06-30 | $1-2 million |
| Con-Technician International, Inc. | 2020-06-30 | $150,000-350,000 |
| Del Sol Consulting, Inc. | 2020-06-30 | $150,000-350,000 |
| Huey D. Malmay Trucking, LLC | 2020-06-30 | $150,000-350,000 |
| LA-Mar | 2020-06-30 | $150,000-350,000 |
| Renaissance 1, LLC | 2020-06-30 | $150,000-350,000 |
| W D Gee Enterprises, Inc. | 2020-06-30 | $150,000-350,000 |
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