ARIZONA NEWS

58 Arizona businesses received $5-10M in federal payroll protection loans

Jul 6, 2020, 5:30 PM | Updated: 6:14 pm

(Getty Images/Manuel Velasquez)...

(Getty Images/Manuel Velasquez)

(Getty Images/Manuel Velasquez)

PHOENIX — The U.S. Department of the Treasury on Monday released information regarding businesses that received federal funds from the Paycheck Protection Program — including 58 Arizona businesses that received $5-10 million each in federal loans.

PPP loans were granted earlier this year as part of the federal coronavirus relief bill to help businesses facing financial hardships imposed by the pandemic. The program did not require repayment if companies did not let employees go and spent more than 60% of funds on payroll, among other requirements.

According to government data, some of the Arizona businesses to receive the most amount of PPP money included:

  • P.F. Chang’s
  • Oregano’s Pizza Bistro
  • Upward Projects Holdings
  • Moon Valley Nursery Farm Holdings
  • Hot Tacos
  • INT Technologies
  • JFQ Lending
  • Lifewell Behavioral Wellness
  • Modern Industries
  • McDonough Coroporation
  • Nextiva

In total, just over 81,000 Arizona small businesses were approved for PPP loans worth $8.6 billion.

Following congressional pressure, the Trump administration made the loan information public regarding businesses that had received $150,000 or more, according to the Wall Street Journal.

Nationwide, many entities that are not small businesses also received PPP funds.

The Girl Scouts of the United States of America, several private schools, a megachurch in Illinois and a synagogue in New York were also among those to receive PPP funds.

As of Monday, small businesses can still get help from the government’s coronavirus relief plan after Congress extended PPP funding Aug. 8.

The program that was set to expire Tuesday still has nearly $132 billion left after giving out more than 4.8 million loans since it began April 3.

The Associated Press contributed to this report.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Arizona doctors could soon give patients abortions in California...

Associated Press

Gov. Gavin Newsom wants to let Arizona doctors provide abortions in California

California Gov. Gavin Newsom announced a proposal on Wednesday that could help Arizona doctors give their patients abortions in California.

30 minutes ago

Georgia man sentenced to life in prison for child sexual abuse...

KTAR.com

Georgia man convicted of child sex crimes in Arizona sentenced to life in prison

A Georgia man was sentenced to life in prison on Thursday for sexually abusing minors who were family friends, authorities said.

2 hours ago

Cottages at McDowell: New Avondale community has 217 homes...

Serena O'Sullivan

Residential real estate company buys new West Valley build-to-rent community

A real estate company just bought an Avondale community called Cottages at McDowell for $57 million. It has 217 one-and two-bedroom homes.

3 hours ago

A wide shot of Phoenix Sky Harbor International Airport, including the sky shuttle, terminal and pa...

Kevin Stone

New study shows massive economic impact of Phoenix Airport System

The Phoenix Airport System, which consists of three travel hubs, created an economic impact of $44.3 billion in 2022, according to data released Thursday.

5 hours ago

Murdering a 3-year-old girl lands Arizona woman prison sentence...

Serena O'Sullivan

Arizona woman sentenced to life in prison for murdering 3-year-old girl

Shawn Main, 53, was sentenced to life in prison for murdering a 3-year-old girl, the Pinal County Attorney's Office announced Thursday.

6 hours ago

Split-panel image of Arizona Republican state Rep. Tim Dunn on the left and sign that says "Abortio...

Kevin Stone

Arizona Republican who approved repeal of near-total abortion ban explains his vote

An Arizona Republican who voted to repeal the state’s near-total abortion ban said he did so to combat an abortion rights ballot measure.

7 hours ago

Sponsored Articles

...

COLLINS COMFORT MASTERS

Here are 5 things Arizona residents need to know about their HVAC system

It's warming back up in the Valley, which means it's time to think about your air conditioning system's preparedness for summer.

...

Fiesta Bowl Foundation

The 51st annual Vrbo Fiesta Bowl Parade is excitingly upon us

The 51st annual Vrbo Fiesta Bowl Parade presented by Lerner & Rowe is upon us! The attraction honors Arizona and the history of the game.

...

Collins Comfort Masters

Avoid a potential emergency and get your home’s heating and furnace safety checked

With the weather getting colder throughout the Valley, the best time to make sure your heating is all up to date is now. 

58 Arizona businesses received $5-10M in federal payroll protection loans