It offers the most complete accounting to date of the more than $700 billion in forgivable loans Congress and the Trump administration introduced in the spring for expenses including payroll, rent, utilities and mortgage interest payments.
Businesses and nonprofits with up to 500 employees were eligible. The maximum forgivable loan offered was $10 million.
When the first round of funding opened, NBC 5 reported restaurants, which were hit especially hard by pandemic-related shutdowns and capacity limits, scrambled to get their applications in.
According to the SBA’s records, nine North Texas-based restaurant chains received the maximum $10 million loan.
The list includes Zoe’s Kitchen, Pei Wei, On the Border and the M Crowd Restaurant Group which owns Mi Cocina and Taco Diner.
PPP loans put $13.7 billion into the North Texas economy? Here’s who benefited from the stimulus program
More than 128,000 local businesses benefited from the Payroll Protection Program.
Deb and Scott Dodson, owners of Hilltop Lanes in Waxahachie, received a $63,240 Paycheck Protection Program loan from the federal government to help get their business ready to roll again.(Vernon Bryant / Staff Photographer)
Deb and Scott Dodson were out of options last spring at their Waxahachie bowling alley, Hilltop Lanes, after being shut down more than two months when the COVID-19 crisis swelled in Texas and nationwide.
Banks weren’t lending. They told their 20 employees to collect unemployment checks until the bowlers could come back.