More Than 4,000 Tallahassee Businesses Received Federal Dollars From The Paycheck Protection Program
New data on businesses that received federal dollars from the paycheck protection program is out. The numbers released Monday by the U.S. Small Business Administration (SBA) show more than 4,000 Tallahassee businesses received loans up to $150,000.
Many have criticized the Paycheck Protection Program for giving away dollars to businesses that might not need it. U.S. Florida Senator Rick Scott says law firms, private schools, and big restaurant chains took money from the program:
"Just last week, I proposed an amendment to the PPP program to make sure that these loans only go to businesses that show a substantial reduction in revenue due to the coronavirus," Scott said in a press release.
Meanwhile, SBA Administrator Jovita Carranza is calling the program is a success. United States Secretary of the Treasury Steven Mnuchin says 27% of the funds went to low and moderate-income communities.
Data from the SBA doesn’t show who got the money, but it does show the recipients’ zip code, the amount loaned, and the owner’s self-reported gender and race. In Tallahassee, out of the 110 businesses that got loans ranging from $125,000 to $150,000, only one reported being Black-owned.
More than 600 Tallahassee businesses got loans from a higher bracket. Among the list, several healthcare groups received $2 - 5 million. That includes Big Bend Hospice, Dermatology Associates of Tallahassee, Radiology Associates of Tallahassee, Tallahassee Orthopedic Clinic, Tallahassee Primary Care Associates, and more.