In the year since the federal Paycheck Protection Loan Program was rolled out, businesses in Alamance County have received more than $263 million in funding to help support their businesses during the pandemic. of COVID-19.
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In an effort to show taxpayers where their money went, the Times-News is spending the next few weeks sharing data on PPP loan recipients, how much PPP money has flowed into the local economy, which cities have been supported most by the funding and which industries were supported by this funding.
This week, we take a look at schools and educational institutions that have received PPP funding.
Nine schools, including seven private primary or secondary schools, received PPP funding during the COVID-19 pandemic. The other two recipient schools were identified as “all other schools and miscellaneous courses” on the PPP documents. The top five recipients from Alamance County were:
- Burlington Christian Academy: $698,400, 104 jobs
- The Burlington School: $454,546, 49 jobs
- Alamance Christian School: $314,844, 21 jobs
- The Mebane Christian Education Society: $144,300, 31 jobs
- Love’s Nursery: $92,122, 23 jobs
Other schools that have received funding include Greater Vision Academy, Spirit of Excellence, Alamance Fine Arts Academy and Children’s House Montessori School.
The Paycheck Protection Program, which is overseen by the Federal Small Business Administration, has been a lifeline for many businesses affected by the coronavirus pandemic. It was created last year by the CARES Act to provide funding to businesses that spent loans primarily on payroll. In January, the program was re-opened for a new round of financing and allowed some businesses to obtain additional loans.
The PPP program closed to new applications on May 29, two days earlier due to a request that ran out of funding.
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Elizabeth Pattman is the trending topics reporter for The Times-News in Burlington, covering business, COVID-19 and all things trending. Contact Elizabeth (her) at [email protected]. I am also available on social media @EPattmanTN on Twitter or @burlingtontimesnews on Instagram.