Some 60 Scott County area businesses were among the recipients of some $521 billion in government loans designed to help small businesses weather the coronavirus pandemic.

A list of some of the borrowers under the Paycheck Protection Program was released last week by the Trump administration after calls for the list was made by Congress and other groups.

Some 28 business from Cynthiana, Paris and Midway combined were also recipients.

The list did not give specific loan amounts, but were listed in board loan amount categories. Loans under $150,000 were not released, although if so, Georgetown Newspapers, Inc., the parent company for the Georgetown News-Graphic would have been included.

The Trump administration published the names and included an analysis that showed PPP loans were evenly distributed across the country with low-to-moderate-income areas receiving 27 percent of the loans on par with the 28 percent of Americans who live there. The administration cited business confidentiality in declining to give specific loan amounts, instead grouping borrowers into five categories based upon loan size. The top tier was $5-to-$10 million which included Harrison Memorial Hospital in Cynthiana. 

A number of Kentucky private colleges received loans including Georgetown College with a $2-to-$5 million loan and Midway University at $1-to-$2 million. Qualex Manufacturing also received a loan in              that category.

Other area industries receiving loans of $1 million-to-$2 million include Riverside Electrical Contractors, Phoenix Transportation, H&R Mechanical, BMT of Kentucky (Burger King franchisee), Color Point in Paris and Team Goliath.

Most area business and industries fell into the up to $350,000 category including: Airdrie Stud of Midway, AST Environmental of Midway, Bourbon Heights of Paris, Clay Ward Agencies  of Paris, Commonwealth Tools of Stamping Ground, CPI Holdings, Creation Kingdom McConnell Trace, LLC, Dan Cummins of Paris, Dan Cummins of Georgetown, Denali Stud, Ear, Nose & Throat Specialists, Georgetown Pediatrics, Harborview Dover LLC, Hunt Advantage Group of Paris, ILEX Summitt LLC, of Midway, Kron International Trucks, Margaux Farms of Midway, Martins Rest Home of Cynthiana, Paris Machining LLC, R.L. Conley Trucking, Southland Construction, Techau’s Inc. of Cynthiana, The Robertson Mechanical & Electrical Co., Bluegrass Engineering and Bluegrass Hearing Clinic of Paris.

Businesses and industries with loans of $150,000 include: Brown Ambulance Service of Cynthiana, CFPike Holdings of Paris, Caribbean Tours, Cassady Industries, Central Kentucky Veterinary Clinic, Conduit Language Specialists of Paris, Country Boy Brewing, Dental Health Associates of Paris, Distilled of Midway, Dotson Bros. of Paris, Ecolandcare, LLC., Electro-Shield Plating, Epiphany Foam Insulation of Midway, Farmers Tobacco of Cynthiana, Fikeco, Inc., George II, Georgetown Chicken Coop, Georgetown Restaurant, Georgetown Urgent Care, Gleneagles Hotel Co., Grace Early Learning Center, LLC., ICon Autonation of Paris, Katerrich Farms of Midway, Kentucky Collision North, Lucas Equine Equipment of Cynthiana, Machmer Hall Thoroughbreds of Paris, Mark Sadler Trucking of Cynthiana, Martin’s Sanitation Service of Paris, Meiwa USA, Mike & Teresa Inc. of Cythiana, Mingua Bros. Jerky of Paris, MLS Powersports, MVH Electrical Services, MVH Sheet Metal, Northco, Inc., Oddville Community of Cynthiana, Pam Combs M.D. Consultants, Pilot Georgetown Restaurant, Polycraft Tools, Quest Farm, Runnymede Farm of Paris, Southern States of Georgetown, Spade Corp., Steel Curtain Entertainment, Town & Country Farms Management, LLC, Trico Resources of Paris, Walters Truck & Trailer Repair , WWR PSC and Young Men’s Christian Association of Bourbon County.

The program was created by Congress in March and offered forgivable loans to small businesses, generally defined as those with 500 employees or less. In an effort to disburse the funds quickly, the government effectively used the honor system. If a company was eligible and economic uncertainty made the loan necessary, the loan could be approved by the bank distributing it. The funds were to be used for payroll and utilities.

 

Mike Scogin can be reached at mscogin@news-graphic.com.

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