Who got Payroll Protection Program relief in suburbs? Check out lists of thousands of loans
Which businesses and organizations in the suburbs got federal relief from the coronavirus pandemic through the Paycheck Protection Program? It turns out more than 8,500 — and that's just in the suburbs the Daily Herald covers.
Some of the entities receiving the largest loans are familiar names: Oberweis Dairy, Motor Werks of Barrington, Patrick Schaumburg Automobiles Inc., Mario Tricoci Hair Salon & Day Spa, the American Academy of Pediatrics. Most of the others are lesser known.
The effort was overseen by the U.S. Small Business Administration and was designed to help companies with fewer than 500 workers meet payroll obligations. The low-interest loans are forgivable if the recipients use at least 60% of the funds to cover personnel costs. The threshold originally was 75%.
The SBA released data about the recipients this month, breaking companies into categories by the range of money awarded. The tiers are:
• $5 million to $10 million.
• $2 million to $5 million.
• $1 million to $2 million.
• $350,000 to $1 million.
• $150,000 to $350,000.
Companies that received loans of less than $150,000 were not identified in the data.
The loans come in all fields — construction, technology, accounting, restaurants, religious institutions, media like Daily Herald owner Paddock Publications, equipment suppliers, retailers and more.
We reviewed some of the biggest loan recipients, and we listed thousands of the loans in spreadsheets. Check it all out below.
The list of loans in the county you live in also is being printed in Sunday's Neighbor section.