I was on one of those down-the-rabbit-hole online browsing journeys and found myself looking at data identifying the recipients of Payroll Protection Program loans. And, of course, I’m a always interested in taking a closer look when there’s lots of money sloshing around.
So I spent a little time this morning pulling out interesting bits and pieces.
These data are only for PPP loans originated in 2020. Most of these recipients also received a second round of funding in the first few months of 2021, but I didn’t find quick access to those data.
The first table ranks industry groups by the total amount of PPP money received. This is based on the North American Industry Classification System (NAICS) category reported in their original applications, and includes the top 15 industry categories, the number of loan recipients in each category, and the total dollar value of ppp loans made.
It’s no surprise to see restaurants and hotels up at the top of the rankings, and medical professions also right up there.
Just for fun, I then looked at the law firms that received the largest PPP loans, again during 2020. This time I added a column dividing the values by the number of jobs reported to be saved due to the loan. It certainly appears that the bigger law firms did well for themselves.
Then I wondered about those religious organizations. Again, here are the top recipients of PPP loans in that category.
Later I’ll try to pull out the numbers for nonprofit organizations to see how they fared.
Discover more from i L i n d
Subscribe to get the latest posts sent to your email.
Mahalo plenty Sir…
Interesting information…
How is it that the Catholic Church is listed three times among churches?
So tax exempt religious organizations are getting our tax dollars (arguably including the tax dollars of their members as well, though not nearly as much as incoming monies) to stay afloat? And the Catholic organizations….they’ll be using the money for their facilities or to fund the coffers of paying off lawsuits regarding their history of sexual predations?
I’m only surprised the usual suspect labor unions (SHOPO, HSTA, PRP and the like) are absent from getting their piece of the pie??
Religion: the most profitable scam in history (next to lawyers – which are also very well represented in your chart)
PPP money that went to churches didn’t go to ministerial staff, but to lay staff who pay all the same federaland state taxes everyone else does. It was their tax dollars too.
Are you saying that the practice of law is a scam? If so, why?
No…just the massive amount of lawyers (if you read my comment) that give the profession a black eye.
Thanks for this. I am very interested to see what the nonprofit spread looks like. Especially by service area, as some had more work than others. Incredible that Legal Aid was number 3 while they have been so critical to response efforts. They should be number 1 IMO.