The Small Business Administration released data on the Paycheck Protection Program loans it doled out to date early Monday. The PPP was a major part of the CARES Act legislation signed this spring, intended to prop up the economy as the COVID-19 pandemic began impacting the US.
The agency released the data in two pieces – one includes loans under $150,000. This data doesn’t include the names or other identifying details for the businesses that accepted the loans.
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Who got the cash
For all loans over $150,000, the SBA released full details, including who obtained the loans.
Taken together, the SBA handed out 7,562 loans to businesses in Idaho – with the majority of those falling under the $150,000 threshold.
The SBA handed out at least $1.152 billion in loans to Idaho businesses. The number is likely much higher, because the agency only reported dollar ranges for the larger loan amounts. We calcuated the total based on the smallest possible loan each business could have obtained (for instance, Alliance Medical Group obtained a loan between $5 million and $10 million, which we calculated at the smallest amount – $5 million).
The data reports that the loans helped the businesses retain a total of 305,422 jobs.
Though the government handed out the money in the form of loans underwritten by the SBA, however some or all of the money can be forgiven if certain requirements are met – essentially turning the loans into grants.
Top Idaho PPP recipients
Fifteen Idaho businesses received between $5 million and $10 million:
|PPP recipient||City||Jobs retained|
|Alliance Medical Group (dba Primary Health)||Garden City||500|
|Bonner General Hospital||Sandpoint||461|
|Dennis Dillon Auto Park & Truck Center||Boise||452|
|Engineered Structures, Inc.||Meridian||490|
|Teancum, LLC (dba Peterson Auto)||Boise||405|
Another 107 businesses received loans between $2 million and $5 million, while 221 businesses got $1 million to $2 million. See a fully searchable database below.
Of the 30,000+ loans handed out in Idaho:
- 5,156 loans went to businesses that reported they were male-owned, or 68%
- 1,326 loans went to businesses that reported they were female-owned, or 18%.
- The rest of the loans, 14%, did not include the gender of the owners.
The majority of loan recipients did not list their race or country of origin – more than 59% of all loans did not include this information.
- 2,885 loans went to business which reported they were white-owned, or 38%.
- 118 loans went to business which reported they were Hispanic-owned, or 1.56%.
- 79 loans went to business which reported they were Asian-owned, or 1.04%.
- 20 loans went to businesses which reported they were American Indian- or Alaska Native-owned, or .26%.
- 7 loans went to business which reported they were Black- or African American-owned, or .09%. No loan over $150,000 went to a Black-owned business.
A total of 212 banks issued loans to lenders in Idaho, led by DL Evans Bank, Zions Bank and Glacier Bank (dba Mountain West Bank), according to the data released by the SBA.
|Bank||Loans underwritten (100+)|
|DL Evans Bank||797|
|Washington Trust Bank||561|
|Idaho Central CU||478|
|Idaho First Bank||294|
|The Bank of Commerce||284|
|Bank of Idaho||253|
|First Federal Savings of Twin Falls||250|
Use the widget below to search all loans granted over $150,000. This may not be searchable on a mobile device due to limitations in the screen size. You can view the data here.