Where did all the PPP money go in Randolph County? We look at what businesses received loans

Jun. 29—As the pandemic ravaged small businesses, the government offered a lifeline via Paycheck Protection Program loans, which provided businesses with two rounds of low interest loans to cover the paychecks of employees in the hopes of retaining jobs.

Randolph County received 1,263 loans, leading to 16,861 jobs retained and a total of over $100 million loaned.

Five companies received between two to five million dollars, retaining a total of 1,573 jobs. These were Carolina Precision Plastics LLC, Hughes Furniture Industries Inc, Jowat Corporation, Pugh Lubricants LLC, and The Assurance Group. The first three are manufacturers, the next is a petroleum wholesaler, and the last is an insurance company.

19 were given one to two million, 62 were loaned $350,000 to $1 million, 116 received $150,000 to $300,000, and 1,061 were given less than $150,000.

Randolph County received the fourth largest amount of loans in the Piedmont-Triad area. It placed fifth in job retention and eighth in total money given, indicating that it was given smaller loans across a larger amount of businesses.

Michelle Shen is an Economic and Data Reporter for The Courier Tribune. Feel free to reach out to her with story tips on Twitter (michelle_shen10), Instagram (pretty_photos_by_michelle OR michelle_shen10), or email ([email protected]).

___

(c)2021 The Courier-Tribune, Asheboro, N.C.

Visit The Courier-Tribune, Asheboro, N.C. at www.courier-tribune.com

Distributed by Tribune Content Agency, LLC.