Some 60 businesses in the Scott County area were among the recipients of some $ 521 billion in government loans to help small businesses weather the coronavirus pandemic.
A list of some of the paycheck protection program borrowers was released last week by the Trump administration after calls for the list were made by Congress and other groups.
Some 28 companies from Cynthiana, Paris and Midway together were also beneficiaries https://oakparkfinancial.com/ announced .
The list did not show specific loan amounts https://oakparkfinancial.com/ announced, but was included in the council’s loan amount categories. Loans under $ 150,000 were not released, although if they did, Georgetown Newspapers, Inc., the parent company of Georgetown News-Graphic, would have been included.
The Trump administration released the names and included an analysis that showed PPP loans were evenly distributed across the country, with low to moderate income areas receiving 27% of loans, on par with the 28% of Americans who there. live. The administration cited business confidentiality as refusing to grant specific loan amounts, instead grouping borrowers into five categories based on loan size. The top tier was $ 5-10 million, which included Harrison Memorial Hospital in Cynthiana.
A number of private colleges in Kentucky have received loans, including Georgetown College with a loan of $ 2-5 million and Midway University with $ 1-2 million. Qualex Manufacturing also received a loan in this category.
Other industries in the region receiving loans of $ 1 million to $ 2 million include Riverside Electrical Contractors, Phoenix Transportation, H&R Mechanical, BMT of Kentucky (Burger King franchisee), Color Point in Paris, and Team Goliath.
Most businesses and industries in the region fell into the category up to $ 350,000, including: Airdrie Stud of Midway, AST Environmental of Midway, Bourbon Heights of Paris, Clay Ward Agencies of Paris, Commonwealth Tools of Stamping Ground, CPI Holdings , Creation Kingdom McConnell Trace, LLC, Dan Cummins of Paris, Dan Cummins of Georgetown, Denali Stud, Ear, Nose & Throat Specialists, Georgetown Pediatrics, Harborview Dover LLC, Hunt Advantage Group of Paris, ILEX Summitt LLC, of Midway, Kron International Trucks, Margaux Farms of Midway, Martins Rest Home of Cynthiana, Paris Machining LLC, RL Conley Trucking, Southland Construction, Techau’s Inc. of Cynthiana, The Robertson Mechanical & Electrical Co., Bluegrass Engineering and Bluegrass Hearing Clinic of Paris.
Companies and industries with $ 150,000 loans include: Brown Ambulance Service of Cynthiana, CFPike Holdings of Paris, Caribbean Tours, Cassady Industries, Central Kentucky Veterinary Clinic, Conduit Language Specialists of Paris, Country Boy Brewing, Dental Health Associates of Paris , Distilled of Midway, Dotson Bros. Paris, Ecolandcare, LLC., Electro-Shield Plating, Epiphany Foam Insulation of Midway, Farmers Tobacco of Cynthiana, Fikeco, Inc., George II, Georgetown Chicken Coop, Georgetown Restaurant, Georgetown Urgent Care , Gleneagles Hotel Co., Grace Early Learning Center, LLC., ICon Autonation of Paris, Katerrich Farms of Midway, Kentucky Collision North, Lucas Equine Equipment of Cynthiana, Machmer Hall Thoroughbreds of Paris, Mark Sadler Trucking of Cynthiana, Martin’s Sanitation Service of Paris, Meiwa USA, Mike & Teresa Inc. of Cythiana, Mingua Bros. Jerky de Paris, MLS Powersports, MVH Electrical Services, MVH Sheet Metal, Northco, Inc., Oddville Community of Cynthiana, Pam Combs MD Consultants, Pilot Georgetown Restaurant, Polycraft Tools, Quest Farm, Runnymede Farm of Paris, Southern States of Georgetown, Spade Corp., Steel Curtain Entertainment, Town & Country Farms Management, LLC, Trico Resources of Paris, Walters Truck & Trailer Repair, WWR PSC, and Bourbon County Christian Association of Young Men.
The program was created by Congress in March and offered forgivable loans to small businesses, typically defined as those with 500 or fewer employees. In an effort to disburse the funds quickly, the government effectively used the honor system. If a business was eligible and economic uncertainty made the loan necessary, the loan could be approved by the distributing bank. The funds were to be used for payroll and utilities.