Businesses and Nonprofits Reap Paycheck Protection Loans Local News

More than 1,600 Alaskan businesses, corporations and nonprofits have received at least $ 150,000 in federal paycheck protection funding. Another 9,516 received less than $ 150,000 in federal assistance.

On Monday, the Small Business Administration released data on the 4.9 million PPP loans administered to date.

Businesses and other entities receiving more than $ 150,000 in federal relief are listed by name. Groups or companies receiving less than $ 150,000 are not named.

US Treasury Secretary Steven Mnuchin said the move was made for confidentiality reasons.

“Today’s release of loan data strikes the appropriate balance between transparency for the American people, while protecting the sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors,” Mnuchin said in a statement Monday.

The average loan amount is around $ 100,000, Mnuchin said, citing this as proof that the program supports even the smallest businesses.

Four of Alaska’s 9,516 total loans under $ 150,000 were made to businesses in the community of Ester, northwest of Fairbanks. Another 977 were businesses in Fairbanks and 172 in the North Pole – with the lowest loan amount at $ 456.25 and the highest loan amount at $ 149,927.

Just over 180 Fairbanks businesses or groups received more than $ 150,000 in assistance.

• 113 of these companies received from $ 150,000 to $ 350,000

• 52 of these companies received from $ 350,000 to $ 1 million

• 10 of these companies received $ 1 to $ 2 million

• Six of these companies received between $ 2 million and $ 5 million

These companies ranged from affordable used cars – which received $ 350,000 to $ 1 million – to Catholic schools in Fairbanks, which received the same amount.

The Fairbanks Daily News-Miner received between $ 350,000 and $ 1 million. Alaska Public Media, a statewide radio-focused news outlet, received the same range of relief while Anchorage Daily News received $ 1 million to $ 2 million.

Contact editor Erin McGroarty at 459-7544. Follow her on Twitter: @FDNMpolitics.

About Christopher Easley

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