There were 29 PPP loans issued in Tennessee during the week ending May 31. 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 |
|---|---|---|
| JJ Waller Trucking | 2020-05-25 | $350,000-1 million |
| Bala Srinivasan | 2020-05-25 | $150,000-350,000 |
| BHZ Development Group, Inc. | 2020-05-25 | $150,000-350,000 |
| Imperial Guard & Detective Service, Inc. | 2020-05-26 | $1-2 million |
| Barnett Steel Fabrication, LLC | 2020-05-26 | $350,000-1 million |
| Flossy Entertainment, Inc. | 2020-05-26 | $150,000-350,000 |
| Kadsi, LLC | 2020-05-26 | $150,000-350,000 |
| Land Corps, LLC | 2020-05-26 | $150,000-350,000 |
| Rones Landscaping | 2020-05-26 | $150,000-350,000 |
| SWT Express, Inc. | 2020-05-26 | $150,000-350,000 |
| Flagship Security Company, LLC | 2020-05-27 | $150,000-350,000 |
| M & P Services, Inc. | 2020-05-27 | $150,000-350,000 |
| Tennessee Sewing Company, LLC | 2020-05-27 | $150,000-350,000 |
| Guaranty Home Mortgage Corporation | 2020-05-28 | $1-2 million |
| American Association for Laboratory Animal Science, Inc. | 2020-05-28 | $350,000-1 million |
| D Premier Valet Services | 2020-05-28 | $350,000-1 million |
| Nia Association | 2020-05-28 | $350,000-1 million |
| Heritage Management Services, Inc. | 2020-05-28 | $150,000-350,000 |
| J Logistics, LLC | 2020-05-28 | $150,000-350,000 |
| Moore Construction Company, Inc. | 2020-05-28 | $150,000-350,000 |
| My Royal Oak Skin Spa, LLC | 2020-05-28 | $150,000-350,000 |
| Pathology Laboratories West, PLLC | 2020-05-28 | $150,000-350,000 |
| Paul a Parris, JR. , III and G. W. Dudney | 2020-05-28 | $150,000-350,000 |
| Carthage Opco, LLC | 2020-05-29 | $350,000-1 million |
| East Garden, Inc. | 2020-05-29 | $350,000-1 million |
| Antique Piano Shop, Inc. | 2020-05-29 | $150,000-350,000 |
| Brock Transport, LLC | 2020-05-29 | $150,000-350,000 |
| Hill Freight | 2020-05-29 | $150,000-350,000 |
| North and South Truck Parts | 2020-05-29 | $150,000-350,000 |
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