NCW — Nearly 2,000 employers in Chelan and Douglas counties received loans through the federal government’s Paycheck Protection Program, potentially supporting more than 22,000 jobs.
Data released Monday by the Small Business Administration and the Treasury Department offers the first detailed look at how the loans have been disbursed to individual businesses and nonprofits since early April.
The data contains information on each of the roughly 4.9 million loans issued through the program, according to a SBA release.
Recipients awarded loans greater than $150,000 were named in the data and those that received less were left anonymous. Organizations like The Washington Post have some found errors or inconsistencies in parts of the included data.
The majority of employers, around 1,700, in Chelan and Douglas counties received less than $150,000. More than $64 million was awarded to those businesses, with a median loan amount of $25,592.
There were 271 businesses in the two counties that were awarded more than $150,000 and named in the release. They ranged from popular restaurants like the Wild Huckleberry to stores like Stan’s Merry Mart and Sav-Mart.
Larger loan amounts were provided as a range rather than an exact figure. Only two businesses, Crunch Pak and JMAC Energy, fell into the highest bracket, receiving a loan between $5 million and $10 million.
Blue Bird, Van Doren Sales, Selland Construction, Weinstein Beverage and Columbia Valley Community Health were among the employers who received between $2 million and $5 million.
The nearly 2,000 employers reported that the loans would support a total of 22,727 jobs in the two counties. Those numbers were self-reported by businesses on their applications, according to a SBA release. Some employers left that field blank or listed zero jobs.
Crunch Pak reported its loan would support 500 jobs, the highest of any employer that included a figure. Several other agriculture companies, including Blue Bird, Washington Cherry Growers, Andy Feil Orchards and Kyle Mathison Orchards, reported their loans would each support hundreds of workers, according to the data.
The two counties’ total workforce numbered 65,115 people in May, according to the state’s Employment Security Department. The unemployment rate was 14.3%, leaving 9,282 people out of work. That’s down from a high of 15.1% recorded in April.
Several small business grant programs were established by local governments to assist struggling businesses.
The Chelan-Douglas Regional Port Authority is managing several grant programs with funding from the federal CARES Act, a state grant program, community development block grants and money from the port’s own tax revenue. Those programs have provided a combined $581,137 to 116 businesses as of Friday, according to the port.
The Paycheck Protection Program has supported 51.1 million jobs nationally, or roughly 84% of all small business employees, according to the release.
The loans don’t have to be paid back if used primarily for payroll costs within 24 weeks, according to the Associated Press. Some of the funds could also be used for rent, mortgage interest and insurance.
After an extension from Congress, the program resumed accepting applications on July 6 with a new deadline of Aug. 8, according to the SBA website. The loans are offered by individual lenders. More information is available at wwrld.us/PPP.
So far banks have made about 4.9 million loans through the program with an average loan size of $107,000, according to the release. Just over 86% of all loans were for less than $150,000.
The program was part of the $2 trillion CARES Act signed into law on March 27.
Arizona-based Wick Communications, The Wenatchee World’s parent company, was awarded a loan of between $2 million and $5 million, according to the data. The company reported it would support 382 jobs across its operation.