EDITOR’S NOTE: WAFF originally published a list of businesses that received PPP loans. We have updated our copy to reflect that the list reflects businesses that were approved and does not indicate businesses accepted the money.
HUNTSVILLE, Ala. (WAFF) - We are getting our first look at some of the businesses that received money from the Paycheck Protection Program (PPP).
The $660 billion federal relief program was designed to help small businesses keep employees on the payroll during the coronavirus pandemic.
More than 3,500 businesses in Huntsville received some money. Almost 20% took home more than $150,000.
To be eligible for a PPP loan the company must have no more than 500 employees. The loans must be used for payroll costs, mortgage interest, rent or utilities.
Some notable Huntsville businesses that received more than $150,000 are HudsonAlpha, Downtown Rescue Mission, Yellowhammer Brewery, and GrubSouth.
Master’s Touch Barbering received $11,000. The barber shop was shut down during the governor’s safer at home order. Owner, Lee Lamb, told 48 News the loan is the only reason he was able to re-open his shop.
“The money was able to help us take care of business expenses, payroll, and then some of the money we needed to pay for our rent,” said Lamb. “It has sustained us and I feel really blessed by it.”
Last week, President Trump signed an extension to apply for the program.
There is about $130 billion still eligible for small businesses.
If you qualify you have until August 8th which is a Saturday so you are encouraged to apply before the deadline
This is a list of Huntsville businesses that applied for and/or received loans in the amount of more than $150,000 from the Paycheck Protection Program:
Organizations who received less than that weren't named in the government data.
The data shows the government issued $521 billion in loans with an average loan size of $107,000.