There were 25 PPP loans issued in Tennessee during the week ending June 7. 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 |
|---|---|---|
| Betterdays, Inc. | 2020-06-01 | $150,000-350,000 |
| Freedom Express, LLC | 2020-06-01 | $150,000-350,000 |
| John C Pryse JR, PC, D.D.S. | 2020-06-01 | $150,000-350,000 |
| Nashville International Academy | 2020-06-01 | $150,000-350,000 |
| Innovative Engineering Services, LLC | 2020-06-02 | $150,000-350,000 |
| Maurice Mayes, JR. BDA on Point Trucking | 2020-06-02 | $150,000-350,000 |
| Coastal Supply Company, Inc. | 2020-06-03 | $350,000-1 million |
| Dara International | 2020-06-03 | $350,000-1 million |
| Bar Environmental Supply, Inc. | 2020-06-03 | $150,000-350,000 |
| Conserv Group, LLC | 2020-06-03 | $150,000-350,000 |
| Songs of Mojo, LLC | 2020-06-03 | $150,000-350,000 |
| Whitney French | 2020-06-03 | $150,000-350,000 |
| Kpower Global Logistics, LLC | 2020-06-04 | $2-5 million |
| Analysis and Measurement Services Corporation | 2020-06-04 | $1-2 million |
| Freight Masters Group, Inc. | 2020-06-04 | $350,000-1 million |
| Palmers Transportation, Inc. | 2020-06-04 | $350,000-1 million |
| East Tennessee Construction Services, Inc. | 2020-06-04 | $150,000-350,000 |
| Hermitage Pediatric Dentistry, PLLC | 2020-06-04 | $150,000-350,000 |
| J & D, Inc. | 2020-06-04 | $150,000-350,000 |
| Oak Ridge Tool-Engineering | 2020-06-05 | $350,000-1 million |
| A-1 Workforce, Inc. | 2020-06-05 | $150,000-350,000 |
| Channon Mickens | 2020-06-05 | $150,000-350,000 |
| Fbsciences Holdings, Inc. | 2020-06-05 | $150,000-350,000 |
| Joyful Provisions Catering & Events Company | 2020-06-05 | $150,000-350,000 |
| Wright Way Enterprise, LLC | 2020-06-05 | $150,000-350,000 |
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