The Paycheck Protection Program (PPP) provided loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors and self-employed individuals could qualify for these loans, according to Harvard Business School.
A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.
A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.
The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.
PPP loans distributed in 2020 in ZIP Code 24609
| Name of Borrower | Current Approved Amount |
|---|---|
| Ultra Production Company, LLC | $680,185 |
| Design 1 Group, LLC | $645,542 |
| Ultra Pipeline, LLC | $472,015 |
| Ceramic Technology, Inc. | $441,619 |
| Gasco Drilling, Inc. | $360,500 |
| CBS Energy, Inc. | $274,388 |
| Primary Energy Services, Inc. | $234,333 |
| Southwest Compressor & Pumping Packages, Inc. | $226,716 |
| C&C Enterprise, LLC | $195,500 |
| Chan-Can, LLC | $188,237 |
| Steve's Electrical & Repair, Inc. | $174,037 |
| Mine Quest, Inc. | $158,900 |
| Ultra Health Services, LLC | $139,025 |
| Healing Waters Counseling Center, LLC | $137,800 |
| Breaker Hunters, Inc. | $113,700 |
| B & F Parts and Service Company | $94,162 |
| Little Creek, Inc. | $89,500 |
| Larry Dye's Heating & Cooling, Inc. | $80,800 |
| Motive Power, Inc. | $80,111 |
| Taylor Hydraulics, Inc. | $78,038 |
| Richalnds Home Care, Inc. | $75,501 |
| Bandy Auto, Inc. | $72,657 |
| Ultra Trucking, LLC | $66,240 |
| Ultra Managment and Consulting, LLC | $62,595 |
| Ratliff & Associates, P.C. | $61,230 |
| Mountain Pallet, LLC | $59,756 |
| Singleton Funeral Service, Inc. | $56,792 |
| Don's Auto Exchange, Inc. | $54,300 |
| Cantrell Foof Services, LLC | $50,287 |
| Craft Vinyl, Inc. | $49,611 |
| Woody's Classic Automotive, LLC | $46,695 |
| Wakewynn, Inc. | $46,457 |
| The Clinic Pharmacy, Inc. | $38,600 |
| Claypool Hill Physical Therapy, Inc. | $37,100 |
| TTS Construction & Equipment, LLC | $36,825 |
| City on a Hill | $36,681 |
| Outdoor Country, LLC | $35,285 |
| Broadwell, Gillespie & Nimmo, PC | $34,899 |
| Van Allen Auto Repair, Inc. | $33,100 |
| Thomas Body Shop, LLC | $32,972 |
| Virginia Tire of Claypool Hill, Inc. | $28,600 |
| Appalachian Medical Associates, LLC | $28,200 |
| Helton Grading, Inc. | $27,782 |
| Louis White Farms & Livestock, LLC | $27,200 |
| Bates Family Farm, LLC | $25,630 |
| Mountain View Rental Properties, LLC | $24,502 |
| Luke Stillwell Optometrist, P.C. | $24,395 |
| United Auto Service, Inc. | $22,630 |
| Robinson Rollback, Inc. | $22,149 |
| Michael Lee | $21,800 |
| Quality Auto Sales, Inc. | $20,000 |
| Milee, Inc. | $17,610 |
| Italian Village of Claypool Hill | $17,500 |
| Southwest Developing, Inc. | $17,500 |
| Conncert Music World, Inc. | $16,989 |
| Lambert Insurance Agency | $16,096 |
| Grundy Auto Sales, Inc. | $15,710 |
| Trinity Assembly of God | $15,166 |
| Cooke Shortt & Keene, PLLC | $12,200 |
| Diann's Specialty Advertising, Inc. | $12,062 |
| Robin Fields | $11,362 |
| Johnny Potter | $9,572 |
| Bailey Chiropractic and Wellness, P.C. | $8,197 |
| Amazing Grace Boutique, LLC | $6,800 |
| Dales Contracting, LLC | $6,712 |
| Providence Title Insurance, Inc. | $6,360 |
| Elswick Enterprises, LLC | $6,300 |
| Cedar Point Properties, LLC | $6,100 |
| 353 Distributing, Inc. | $5,831 |
| Baptist Valley Assembly of God, Inc. | $5,717 |
| J & W Screen Printing, Inc. | $5,348 |
| Sherman W. Beavers | $5,152 |
| Cedar Bluff Beauty Shop | $4,775 |
| Schuler Construction, Inc. | $4,400 |
| Stork and Kats | $2,880 |
| Bill Vance, LLC | $2,812 |
| Kevin D. Shreve | $1,535 |
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