Loan data for North Carolina revealed as inflation rocks the country

By Old North News

Nov 2, 2022

There were 85,559 small businesses in North Carolina which received Paycheck Protection Loans (PPP) of $25,000 or under. These 85,559 businesses received $1,074,083,193 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration

Loans of $25,000 were provided to 395 businesses.

The largest loan underneath the $25,000 threshold was $25,000, given to DG Bar & Grill, LLC.

The average loan amount provided to North Carolina small businesses was $67,371.

One of the biggest drivers causing inflation, which is currently decimating the U.S. economy, is loans. With more money available to residents through the PPP, the purchasing power of that money is diminished, meaning it takes more money to buy the same amount of goods as before.

Economist Mickey D. Levy argued the PPP and many other assistance programs offered during the COVID-19 pandemic sparked the inflation seen in recent months by boosting the economy beyond what it could reasonably handle.

Roughly $800 billion was injected into the U.S. economy while interest rates were low, causing people to overextend themselves at the time to land in trouble in the future, he claimed.

A 2022 study found that the PPP spent between $169,000 and $258,000 to protect one job. With the average salary of a small-business worker being around $58,000, the study found the program overspent by roughly 75 percent.

Top 100 North Carolina Businesses Which Received PPP Loans $25,000 or Lower

Borrower Name	Loan Amount	Difference From Average Loan Amount in NC
DG Bar & Grill, LLC	$25,000	-$42,371
Future Holdings Associates, LLC	$25,000	-$42,371
Green Meadow Construction Group, LLC	$25,000	-$42,371
Carolina Closeouts of Statesville, LLC	$25,000	-$42,371
Moores Storage Buildings of Eastern	$25,000	-$42,371
Comet Grill, Inc.	$25,000	-$42,371
Firefly PC, M.D.	$25,000	-$42,371
Fryer Solutions of NC, LLC	$25,000	-$42,371
SNC Warehousing, Inc.	$25,000	-$42,371
Center for Science Technology and Leadership Development, Inc.	$25,000	-$42,371
Ratoon Agroprocessing, LLC	$25,000	-$42,371
Mid-Carolina Plumbing, LLC	$25,000	-$42,371
Chris' General Maintenance, Inc.	$25,000	-$42,371
Avid Travel Media, Inc.	$25,000	-$42,371
J S Krishna Enterprise, LLC	$25,000	-$42,371
Pathways Counseling and Development, LLC	$25,000	-$42,371
Spoiled Rotten of Highlands, Inc.	$25,000	-$42,371
Linwell Farms, LLC	$25,000	-$42,371
Whittington Builders, Inc.	$25,000	-$42,371
Andrew Harrell P. A., D.D.S.	$25,000	-$42,371
Chartech, LLC	$25,000	-$42,371
Maintec Technologies, Inc.	$25,000	-$42,371
Integrity Home Renovation, Inc.	$25,000	-$42,371
Greater Than, LLC	$25,000	-$42,371
AWC Enterprises, Inc.	$25,000	-$42,371
Anderson Built Homes	$25,000	-$42,371
AL Hertz & Associates	$25,000	-$42,371
BP Crutcher JR, LLC	$25,000	-$42,371
Nathan Leslie Designs, LLC	$25,000	-$42,371
Aaj Trucking, LLC	$25,000	-$42,371
Lusk, Inc.	$25,000	-$42,371
Greater Joy Church North	$25,000	-$42,371
Integrity Home Renovation, Inc.	$25,000	-$42,371
Princess Childcare	$25,000	-$42,371
Coastal Aquatic Pools, LLC	$25,000	-$42,371
Variety Mart, Inc.	$25,000	-$42,371
Town Center Podiatry, PLLC	$25,000	-$42,371
Harmon Law, PLLC	$25,000	-$42,371
NCH Enterprises, Inc.	$25,000	-$42,371
Bauer Law, LLC	$25,000	-$42,371
JWL Steel Designs & Sons, LLC	$25,000	-$42,371
Epting and Hackney	$25,000	-$42,371
Going Fit, Inc.	$25,000	-$42,371
DR Christopher M Silvoy & Association II, PLLC D.M.D.	$25,000	-$42,371
BGA Energy Optimization Solutions, Inc.	$25,000	-$42,371
Ali Cat Toys	$25,000	-$42,371
Beam Product Innovation, Inc.	$25,000	-$42,371
Mcclendon Enterprise, Inc.	$25,000	-$42,371
Amy Pentz Dickson, LLC	$25,000	-$42,371
Cold Creek Timber & Logs, Inc.	$25,000	-$42,371
Stark Enterprise, LLC	$25,000	-$42,371
Grand Allure Home Group, LLC	$25,000	-$42,371
Carolina Women's Lacrosse Camp, Inc.	$25,000	-$42,371
East Coast Fire Apparatus	$25,000	-$42,371
The Painted Peacock Company	$25,000	-$42,371
Reliable Investment, LLLP	$25,000	-$42,371
Reliable Roadside Services, Inc.	$25,000	-$42,371
Belvin Built General Contracting, Inc.	$25,000	-$42,371
Belvin Built General Contracting, Inc.	$25,000	-$42,371
Granite Tire & Alignment, Inc.	$25,000	-$42,371
Castton Construction Company, LLC	$25,000	-$42,371
Best Edge Seo	$25,000	-$42,371
DML Fitness, LLC	$25,000	-$42,371
Aces High, Inc.	$25,000	-$42,371
Swofford and Young Interiors, LLC	$25,000	-$42,371
Cold Creek Timber & Logs, Inc.	$25,000	-$42,371
Veer Brothers, LLC	$25,000	-$42,371
Blue Cloud Interactive, LLC	$25,000	-$42,371
Emotion, LLC	$25,000	-$42,371
Antwain Henderson	$25,000	-$42,371
HRX Renaissance Consortium	$25,000	-$42,371
Mcclendon Enterprise, Inc.	$25,000	-$42,371
Best Edge Seo	$25,000	-$42,371
Precious Health and Wellness Spa, Inc.	$25,000	-$42,371
Southern Pines Academy	$25,000	-$42,371
East West Capital, LLC	$25,000	-$42,371
Poynter Sales & Marketing	$25,000	-$42,371
BPA Professional Services, Inc.	$25,000	-$42,371
Abadan, Inc.	$25,000	-$42,371
Redline Measuring, Inc.	$25,000	-$42,371
Minas Brows and Spa, Inc.	$25,000	-$42,371
Tallsandsmallsllc	$25,000	-$42,371
Glenn Construction of Durham, Inc.	$25,000	-$42,371
Shah Management, Inc.	$25,000	-$42,371
Powell Brothers Construction, LLC	$25,000	-$42,371
Going Fit, Inc.	$25,000	-$42,371
Axes & Allies, LLC	$25,000	-$42,371
RLV Hospitality, Inc.	$25,000	-$42,371
The Poston Group, LLC	$25,000	-$42,371
KC Transportation Service, Inc.	$25,000	-$42,371
Ray Road Auto Parts	$25,000	-$42,371
Charles Christopher Tope	$25,000	-$42,371
Beverage Destruction Service, Inc.	$25,000	-$42,371
Nancy's Fancys, LLC	$25,000	-$42,371
IN Motion Fitness, Inc.	$25,000	-$42,371
Cea Sales, LLC	$25,000	-$42,371
JCH Ventures	$25,000	-$42,371
East West Capital, LLC	$25,000	-$42,371
Swofford and Young Interiors, LLC	$25,000	-$42,371
Cea Sales, LLC	$25,000	-$42,371