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Money spent: Some Olympia PPP loans under the March 2020 CARES Act

Dan Leahy

The Small Business Administration (SBA) has released names of entities awarded Paycheck Protection Program forgivable loans of less than $150,000 under the CARES Act. In Olympia, 1,680 entities received these loans.

The chart shows only the 115 recipients of loans above $100,000.  These 115 loans totaled $14,321,642. The recipients were generally concentrated in the professional sector such as dentistry, medical services, law firms and technical services. However, there were numerous recipients in construction, as well in agriculture and forestry.

Heritage Bank (31) was the most active lender followed by Timberland (14), Commencement Bank (9), Key Bank and Bank of America (7), Twin Star Credit Union (6), etc. The initials “N.A.” in the chart stand for “National Association.”

SBA data also shows the number of jobs retained (JOB), with a total of 953 reported. The top twelve job-retaining firms accounted for 35% of that total or 333 jobs. These jobs were concentrated in four food service firms (104) and two senior care firms (69).

“Governors” listed are from the Secretary of State’s office. However, the list gives only the first person listed, not all governors. “Not found at SOS” means the author of the chart did not find a name.

Dan Leahy lives in West Olympia and likes to make charts.

Click to Download Full Chart of PPP Loans in Olympia

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