Who Got COVID-19 Paycheck Protection Program Loans?
In response to the COVID-19 crisis the Federal Government issued Paycheck Protection Program (PPP) loans to businesses. It was an approximately $660 billion program that eventually approved approximately 700,000 businesses for loans.
This past Monday the Small Business Administration released PPP data, including the individual companies who received loans. And because there are a lot of mapping nerds out there like me and I track virtually every mapping site, it was mapped in no time.
The data released is of businesses who borrowed between $150,000 and $10 million under the PPP loan program. The average PPP loan was about $100,000, so many business who borrowed below that are not listed by name. However, the businesses that are named borrowed the most, and they account for nearly 75% of all PPP loan dollars.
PPP loans are low-interest and can be forgiven if businesses adhere to certain conditions, such as rehiring employees.
Some quick numbers:
- Doctors and dentists borrowed approximately $10 billion
- Approximately 33,000 restaurants applied, borrowing approximately $9 billion
- Car dealers borrowed approximately $7 billion
- Law firms borrowed approximately $5 billion
Okay, enough minutia, on to the map.
The Map
As you can see this is a pretty straightforward map and not nearly as geeky and sophisticated as some of the ESRI maps I highlight.
There are a few options on the right including a satellite background (which seems unecessary), and an option to show the businesses who got loans by a heatmap density vice individual pins. I found the latter only really showed when zoomed to the full U.S. view, and didn’t work when I zoomed in.
When you zoom to an area you’ll see the cute little money icons spread out to show the locations of businesses that received loans. Here’s a look at Washington D.C.:
If you click on a little dollar icon you’ll see a list of businesses pop up at the bottom. The data show the business name, the date they received a loan, the loan range, and the zip code.
Notice the International Spy Museum here in D.C. got a loan from my screenshot above. Also Hoffman and Associates which is a huge real estate developer.
Remember that this is not a full list of companies that received loans but only the ones who received over $150,000. Even though 33,000 restaurants applied I could barely find any as I assume in most cases their loan amount was below that number.
The SBA Source Data
Because I go above and beyond here at Accidental FIRE, I went into the actual SBA data and found some more maps. Here’s the PPP loan amount breakdown by state:
This map shows the PPP Loan approval percentage by state as a percentage of small business payroll:
Here’s the breakdown by NAICS Sector. That stands for “North American Industry Classification System” and is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.
No Search
One flaw to the interactive map and data is that it is not searchable by company name. So if you want to check that way you’ll have to go to the raw data, and you’ll have to know the state that the company you’re looking for resides in.
For big companies that work across states that would mean their headquarters location. If you do know that and want to search by company, you can go to this clunky FTP-type site the SBA set up and download a .csv file of the list of businesses for that state. Once you open the .csv file you can search for the company name.
*Update – ProPublica stood up a site with all of the company data in a searchable database just 2 days ago and I found it literally the night before this post went live! You can find it here.
Also if you’d like to read the official PPP Report that I obtained some of the above maps from it’s here.
As always I hope you find value in these maps and data and I will always keep on the prowl to highlight and expose data related to money and finances.
If by chance you did get a PPP loan please comment below and let me know if you’re company name was included on the map!
i know mrs. smidlap’s not for profit employer got a ppp loan but i’m sure it was small with about 4-5 employees. i also know a principle in a law firm who probably got paid. the mrs. likely would have done better with a few months of that “enhanced unemployment” and then regular unemployment with the rest of the year off but that’s ok. i’m not one of the angry mob who was parsing every supposed “rich” company as long as they followed the stated rules. i think the gov’t did it wrong but they did what they did.
Dude, the only way I can see you (or me) becoming part of what has become the all-too-common angry mobs is if the cancelers cancel the new Bevis & Butthead that is supposed to be coming out. If that happens, we’re going to join together as an angry, hateful, outraged, pitchfork-armed Twitter mob of two who will cancel the ENTIRE fucking world! Then we’ll set it on fire and piss on the ashes.
I’ve been trying to find out if Panda Express got PPP. I can’t find anything on the ProPublica site, though. They are based in Rosemead, CA. My friend’s restaurant is on their property and they are not giving any kind of rent relief to their tenants.
I’m not sure how flexible the search engine is on the ProPublica site, so you might want to make sure you have their official name. But maybe they just didn’t get one either
More good stuff here, Dave Ms thanks for sharing. It’ll be interesting to see some of the larger borrowers once I can get on a laptop and take a closer look. Man, I love these maps!
I keep monopolizing your time and sending you down mapping rabbit holes, enjoy 🙂
Wow, nearly every company I see on a billboard around us is on this list. Plenty of familiar names. The companies seem to be widely varrying but I see a high frequency of law firms.
To answer your question: a company I operate did receive a PPP loan though in a (relatively) small amount of money (way less than that $150k reporting bound), so it doesn’t appear on the list.
I was surprised to find that Jenni’s employer isn’t on the list, I guess the family-run pharmacy didn’t get on the ball and apply for the PPP. I’d think they’d been over the $150k limit.
Part of the problem with the loan program seems to have been that it too easily favors companies with the resources (time and expertise) to make it through the application process to receive the loans, versus the smaller family run businesses that are already overwhelmed just keeping things afloat. I don’t know of a better solution, though. I guess there could have been a support staff that “suggested” the loans for smaller businesses like that and helped create the applications… But, that wouldn’t have been as fast.
Thanks for sharing another interesting map!
Very true about the admin hassle to get the loans. If you’re a business of 1 or 2 people it’s a lot of extra work, but bigger businesses can just task a staff person and have it done in hours. A friend of mine who has her own occupational therapy business by herself applied and got one, but she said it wasn’t very straightforward.