There were 32 PPP loans issued in Louisiana during the week ending May 24. 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 |
|---|---|---|
| Southwest Louisiana Electric Membership Corporation | 2020-05-18 | $5-10 million |
| Laureate Academy, Inc. | 2020-05-18 | $350,000-1 million |
| Levin Savoy | 2020-05-18 | $150,000-350,000 |
| Methods Technology Solutions | 2020-05-18 | $150,000-350,000 |
| National Aqua Pressure, LLC | 2020-05-18 | $150,000-350,000 |
| South Louisiana Electric Cooperative Association | 2020-05-19 | $1-2 million |
| St. Aloysius School | 2020-05-19 | $350,000-1 million |
| Yousef and Sons, Inc. | 2020-05-19 | $350,000-1 million |
| Gardia Construction, LLC | 2020-05-19 | $150,000-350,000 |
| J & J Electrical and Instrumentation Service, Inc. | 2020-05-19 | $150,000-350,000 |
| Mike Pedersen's Lake Charles Auto Auction, Inc. | 2020-05-19 | $150,000-350,000 |
| Washington-St. Tammany Electric Cooperative, Inc. | 2020-05-20 | $2-5 million |
| C'Estate Bon Seafood, L.L.C. | 2020-05-20 | $350,000-1 million |
| Baton Rouge Primary Care Collaborative, Inc. | 2020-05-20 | $150,000-350,000 |
| Jesohn, Inc. | 2020-05-20 | $150,000-350,000 |
| Neal Auction Company, Inc. | 2020-05-20 | $150,000-350,000 |
| Rosenberger Site Solutions, LLC | 2020-05-21 | $1-2 million |
| Adell Compounding, Inc. | 2020-05-21 | $350,000-1 million |
| Ambulance Service District No. 1 of Lafourche Parish | 2020-05-21 | $350,000-1 million |
| Thompson Packers, Inc. | 2020-05-21 | $350,000-1 million |
| Next Generation Logistics, LLC | 2020-05-21 | $150,000-350,000 |
| Operation Spark | 2020-05-21 | $150,000-350,000 |
| Southeast Restaurant Group-Eastbank, LLC | 2020-05-21 | $150,000-350,000 |
| Southeast Restaurant Group-Miami, Inc. | 2020-05-21 | $150,000-350,000 |
| St. Alphonsus School | 2020-05-21 | $150,000-350,000 |
| Hebert Real Estate Holdings, LLC | 2020-05-22 | $350,000-1 million |
| EWC Staffing, L.L.C. | 2020-05-22 | $150,000-350,000 |
| Haven's Gateway Personal Care Facility, Inc. | 2020-05-22 | $150,000-350,000 |
| Hubbs Properties, LLC | 2020-05-22 | $150,000-350,000 |
| Memo Painting Company, Inc. | 2020-05-22 | $150,000-350,000 |
| MK Simmons Construction, LLC | 2020-05-22 | $150,000-350,000 |
| Southeast Restaurant Group-Harvey, LLC | 2020-05-22 | $150,000-350,000 |
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