The Paycheck Protection Program (PPP) provided loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors and self-employed individuals could qualify for these loans, according to Harvard Business School.
A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.
A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.
The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.
PPP loans distributed in 2020 in ZIP Code 79245
| Name of Borrower | Current Approved Amount |
|---|---|
| Kathy Fowler Agency, LLC | $202,800 |
| G & L Utility Services, Inc. | $155,800 |
| Donley County Gin, LLC | $98,130 |
| Total Alloy Foundry, Inc. | $86,900 |
| D & J Foodliner, Inc. | $82,500 |
| Barney J. Barnett | $80,516 |
| Mcqueen Drive-in, Inc. | $80,100 |
| Hall County EMS, Inc. | $52,450 |
| K & R Farms | $46,800 |
| Stewart Farms | $42,469 |
| Memphis Farmers Gin Company | $35,500 |
| Mathew Montgomery | $34,820 |
| K Huddleston Sales, Inc. | $32,100 |
| The Rock INN Cafe | $31,662 |
| Tony Lindsey | $27,810 |
| J Gonzalez, Inc. | $25,067 |
| K&W Farms | $22,600 |
| D&I Farms | $21,300 |
| Altman Farms | $21,200 |
| Lamonte Dickson | $20,000 |
| Wendy Altman | $18,700 |
| Davis Broadcasting, Inc. | $16,300 |
| Ariola Drilling, Inc. | $15,551 |
| J & J Lube & Detail | $14,574 |
| First United Methodist Church of Memphis, Texas | $14,000 |
| Shree Kirshna, Inc. | $13,803 |
| William L. Richburg | $13,300 |
| Charles Phillips | $12,753 |
| O. K. Tire Store | $12,508 |
| First Baptist Church | $10,928 |
| Memphis Country Club | $10,000 |
| Ronnie's Transport | $9,095 |
| Tippett Farms | $8,937 |
| 287 Cantina | $8,091 |
| Got Ink | $8,000 |
| The Beer Store, Inc. | $6,550 |
| Altman Cattle Company, LLC | $6,500 |
| Boedeker, Inc. | $6,250 |
| Plaska Lodge | $6,200 |
| Tefrry Lindsey | $5,865 |
| Retail Monkey | $3,720 |
| Glorias Cafe | $2,100 |
| HDB Hotel, LLC | $1,828 |
| Tyson Pate | $1,800 |
| The Cottage | $1,798 |
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