There were 20 PPP loans issued in Utah during the week ending June 14. 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 |
|---|---|---|
| Best Vinyl Fence & Deck, LLC | 2020-06-08 | $1-2 million |
| Real Foods Market, LLC | 2020-06-08 | $150,000-350,000 |
| Techego, Inc. | 2020-06-08 | $150,000-350,000 |
| Venture Hospitality Holdings, LLC | 2020-06-08 | $150,000-350,000 |
| Corporate Staging Resources, LLC | 2020-06-09 | $350,000-1 million |
| Vista at Entrada, School of Performing ARTS & Technology | 2020-06-09 | $350,000-1 million |
| Express Tow Systems, LLC | 2020-06-09 | $150,000-350,000 |
| Hydro-Technician, Inc. | 2020-06-09 | $150,000-350,000 |
| Insure-Rite, Inc. | 2020-06-09 | $150,000-350,000 |
| Dale T. Smith & Sons Meat Packing Company, Inc. | 2020-06-10 | $1-2 million |
| Hae Dong, LLC | 2020-06-10 | $350,000-1 million |
| 3CC Concrete, LLC | 2020-06-10 | $150,000-350,000 |
| Nature's Distribution, Inc. | 2020-06-10 | $150,000-350,000 |
| Russell Mineral Equipment, Inc. | 2020-06-10 | $150,000-350,000 |
| Series 215: Ministries of the Catholic Diocese of Salt LA of Salt Lake City, LLC | 2020-06-10 | $150,000-350,000 |
| Trace Minerals Research, LC | 2020-06-11 | $350,000-1 million |
| Skull Valley Health Clinic, LLC | 2020-06-11 | $150,000-350,000 |
| Vive Care, LLC | 2020-06-11 | $150,000-350,000 |
| Wall to Wall Exteriors, LLC | 2020-06-11 | $150,000-350,000 |
| Fibertel, Inc. | 2020-06-13 | $1-2 million |
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