COLUMBUS, Ohio (WCMH) – Nearly 150,000 Ohio businesses and nonprofits have received loans from the federal government’s Paycheck Protection Program, designed to ease the financial blow of the coronavirus pandemic.
The U.S. Small Business Administration gave out 147,867 loans to Ohio businesses between April 3 and Aug. 8, according to the latest data released this month as part of a court order.
This is the SBA’s second release of data. The first release, in July, accounted for loans granted through June 9. December’s data, however, also includes the specific amounts that businesses were given, instead of just ranges. Also new is that businesses with loans of less than $150,000 are no longer anonymous.
Loans in Ohio ranged between $100 and $10 million. Thirty-three businesses – mostly large corporations – got loans of $10 million, including Columbus-area White Castle restaurant chain, Anchor Hocking glassware and Cameron Mitchell Restaurants.
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More than a thousand kinds of businesses across Ohio received loans, from restaurant chain Skyline Chili ($4.4 million), to the Rock and Roll Hall of Fame and Museum in Cleveland ($2.1 million), to the Toledo Mud Hens minor league baseball team ($1.6 million).
In all, the federal government loaned more than $18.4 billion to Ohio-based businesses and nonprofits. The business types receiving the most loans have been restaurants (7,664 loans), religious organizations (3,259), law offices (3,159), dentist offices (2,961) and insurance agencies (2,812). 6,847 businesses were unclassified or their industry column was blank.
Fourteen religious organizations received loans of more than $1 million. These include churches, regional jurisdictions like Catholic dioceses and religious schools. The largest loan for a church was $3,646,500 for Crossroads Community Church in Cincinnati, while the largest for a church in the Columbus area was $1,947,500 for Vineyard Christian Fellowship in Westerville.
Although 32,262 businesses and nonprofits received loans of $100,000 or more, including 3,211 businesses with loans of more than $1 million, the majority — more than 78% — had loans in the five figures. In fact, more than a third of Ohio borrowers got loans of less than $20,000.
Among the information businesses had to include in their filings was how many jobs they estimated their loans would save. Those figures ranged from zero to 500 jobs, which 154 said they could each support. 7,559 businesses (5%) reported zero jobs saved and another 10,190 (7%) left the column blank.
Of the companies that reported supporting 500 jobs with their loans, most are large corporations like Columbus-based Sbarro restaurants, Cincinnati-based Frisch’s Restaurants and Youngstown-based Schwebel Baking Company.
In all, Ohio businesses and nonprofits reported saving 1,894,404 jobs with PPP loans. That is nearly 35% of the 5,441,767 people employed in Ohio in March, the last full month before PPP loans were first approved, according to the U.S. Bureau of Labor Statistics.
Some companies’ jobs figures, however, are likely errors. For example, 11 Ohio companies reported supporting 500 jobs with loans of $100,000 or less, including Newark paving contractor Triple H Enterprises, Domenic’s Pub in Cuyahoga Falls and Suite Serenity hair salon in Port Clinton.
Officials from the U.S. Treasury Department and the SBA told The Washington Post that businesses self-reported their jobs numbers and industry classifications, leading to occasional discrepancies and errors.
The Paycheck Protection Program was part of the $2 trillion CARES Act passed by Congress and signed by President Donald Trump on March 27.
December’s extensive data dump comes via court filing in which news organizations including The Washington Post, The New York Times, The Wall Street Journal, Bloomberg and ProPublica sued the SBA for more open information.