There were 11 PPP loans issued in Montana 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 |
|---|---|---|
| Ordained Real Estate, LLC | 2020-05-18 | $350,000-1 million |
| Sheridan Electric Company-Op. , Inc. | 2020-05-18 | $350,000-1 million |
| Fort Belknap Tribal Housing Authority | 2020-05-19 | $150,000-350,000 |
| The Federal Defenders of Montana | 2020-05-20 | $350,000-1 million |
| Eckart Trucking | 2020-05-20 | $150,000-350,000 |
| Three Bear Lodge, Inc. | 2020-05-21 | $150,000-350,000 |
| Veterinary Emergency & Specialty Group | 2020-05-21 | $150,000-350,000 |
| Westerm States Electric, Inc. | 2020-05-21 | $150,000-350,000 |
| Milton & Betty Bastian | 2020-05-22 | $150,000-350,000 |
| Mosaic Architecture, PC | 2020-05-22 | $150,000-350,000 |
| Renovated Montana Properties, LLP | 2020-05-22 | $150,000-350,000 |
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