There were 20 PPP loans issued in Arkansas during the week ending May 10. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Lencred, Inc. | 2020-05-04 | $150,000-350,000 |
| Looney's Tire Service, Inc. | 2020-05-04 | $150,000-350,000 |
| Mountain Mechanical Contractors, Inc. | 2020-05-04 | $150,000-350,000 |
| The Academy, Inc. | 2020-05-05 | $350,000-1 million |
| The Little Piglet Soap Company, LLC | 2020-05-05 | $350,000-1 million |
| 3-D Contracting Corporation | 2020-05-05 | $150,000-350,000 |
| Arkansas Industrial Roofing, Inc. | 2020-05-05 | $150,000-350,000 |
| Black River Commodities, LLC | 2020-05-05 | $150,000-350,000 |
| MSG Waste & Refuse, LLC | 2020-05-05 | $150,000-350,000 |
| The Houston International Pipe Group, LL | 2020-05-05 | $150,000-350,000 |
| The Huda Academy | 2020-05-05 | $150,000-350,000 |
| Hendrix College | 2020-05-06 | $2-5 million |
| Premier Well Services, LLC | 2020-05-06 | $350,000-1 million |
| Contractor Solution Group, LLC | 2020-05-06 | $150,000-350,000 |
| Singleton Contractors | 2020-05-06 | $150,000-350,000 |
| DBG Arkansas, LLC | 2020-05-07 | $2-5 million |
| Farmers Granary, Inc. | 2020-05-07 | $150,000-350,000 |
| Arvac, Inc. | 2020-05-08 | $1-2 million |
| Arkansas Elevator, LLC | 2020-05-08 | $150,000-350,000 |
| Metal Roofing Supply and Manufacturing, Inc. | 2020-05-08 | $150,000-350,000 |
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