The U.S. Small Enterprise Administration launched detailed details about accredited debtors from the federal authorities’s $659 billion Paycheck Safety Program.
New information from the Small Enterprise Administration reveals a fuller image of what the Paycheck Safety Program dispersal regarded like in North Texas.
The SBA launched detailed data on which companies acquired funds from this system late Tuesday as a result of a lawsuit by a number of information organizations, together with the Dallas Enterprise Journal’s mother or father, American Metropolis Enterprise Journals.
Greater than $12.8 billion in PPP loans got to 118,149 North Texas-based firms from April 3 to Aug. 8. The typical mortgage was $108,547.
Almost 30 companies acquired the utmost $10 million mortgage, whereas 98% of the loans had been for an quantity lower than $1 million.
Dallas firms acquired greater than $3.7 billion in PPP loans, whereas their neighbors to the west in Fort Value acquired greater than $1.4 billion. Corporations situated in Plano, Irving, Arlington, Richardson, Frisco and Carrollton all acquired greater than $350 million whole in every metropolis.
On a extra granular degree, companies in ZIP code 75024 in Plano acquired the best quantity of PPP cash, whereas extra companies in Frisco’s 75034 ZIP code acquired PPP loans than in some other ZIP.
Eating places by far acquired essentially the most PPP loans in North Texas. Greater than $951.4 million went to five,300 eateries. That’s almost 7% of all loans given to Dallas-Fort Value companies and greater than twice as a lot as the following largest business.
Well being care companies additionally acquired a big portion of North Texas PPP cash. Physicians and dentists’ places of work had been two of the highest 10 forms of companies that acquired the best quantity of loans.
The SBA’s information round gender, race and ethnicity was incomplete, with solely a small portion of the North Texas companies that acquired a mortgage figuring out possession by these metrics. Nonetheless, some patterns could possibly be gleaned.
Of companies that disclosed the proprietor’s gender, male-owned institutions acquired greater than 4 instances extra money than their female-owned counterparts, with thrice extra male-owned companies receiving loans.
About 60% of the companies that disclosed their proprietor’s race or ethnicity had been owned by a white particular person. Greater than a fourth of the loans went to Asian-owned companies, and fewer than 10% went to Hispanic-owned companies and even much less for Black and Indigenous homeowners.