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and last updated 2021-01-26 19:38:51-05
CLEVELAND HEIGHTS, Ohio — A federal coronavirus bailout program meant to help small businesses survive the pandemic provided the majority of funds to only a small percentage of Ohio recipients, according to an analysis by 5 On Your Side Investigators.
PPP loan data
News 5 found 76% of the $18.48 billion in Paycheck Protection Program loans disbursed to Ohio businesses went to only 15.5% of the state s 147,868 loan recipients. In total, 22,969 recipients received $14.12 billion in PPP loans for at least $150,000.
Thirty-three Ohio businesses were approved for $10 million loans, the maximum amount available, including seven businesses in Northeast Ohio.
Among the Ohio businesses that received $10 million were Independence Excavating, Mazzella Companies, a Cleveland manufacturing company, and a White Castle franchise owner. ....

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