Loan data for Alabama revealed as inflation rocks the country

By Yellowhammer Times

Nov 2, 2022

There were 50,411 small businesses in Alabama which received Paycheck Protection Loans (PPP) of $25,000 or under. These 50,411 businesses received $645,518,127 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration

Loans of $25,000 were provided to 246 businesses.

The largest loan underneath the $25,000 threshold was $25,000, given to Voices for Jesus Outreach Ministry, Inc..

The average loan amount provided to Alabama small businesses was $53,972.

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 Alabama Businesses Which Received PPP Loans $25,000 or Lower

Borrower Name	Loan Amount	Difference From Average Loan Amount in AL
Voices for Jesus Outreach Ministry, Inc.	$25,000	-$28,972
Alabama Choir School, Inc.	$25,000	-$28,972
Family Optometry, P.C.	$25,000	-$28,972
Jaads Childcare & Development Center, Inc.	$25,000	-$28,972
Terry Andrade PC, M.D.	$25,000	-$28,972
Family Share Concepts, LLC	$25,000	-$28,972
Huntsgate, Inc.	$25,000	-$28,972
Mabs Medical	$25,000	-$28,972
First Baptist Church of Williams, Inc.	$25,000	-$28,972
Reeves Agency, Inc.	$25,000	-$28,972
Richardson Services, LLC	$25,000	-$28,972
South Shades Crest Animal Clinic, LLC	$25,000	-$28,972
Set-Apart Marketing	$25,000	-$28,972
Motionworx, LLC	$25,000	-$28,972
TV Power, Inc.	$25,000	-$28,972
Sharp Carpet Factory Outlet, Inc.	$25,000	-$28,972
S Nails & Spa, LLC	$25,000	-$28,972
S Nails & Spa, LLC	$25,000	-$28,972
Hadrian Mcneil	$25,000	-$28,972
Huntsgate, Inc.	$25,000	-$28,972
C & T Logistics, LLC	$25,000	-$28,972
C & T Logistics, LLC	$25,000	-$28,972
Blue Wave Pool & Plumbing, Inc.	$25,000	-$28,972
The Mosquito Authority of Alabama, LLC	$25,000	-$28,972
Philco, Inc.	$25,000	-$28,972
North Alabama Counseling Center, Inc.	$25,000	-$28,972
Coppock Services, LLC	$25,000	-$28,972
Up and out Moving Service	$25,000	-$28,972
KPM Investments, LLC	$25,000	-$28,972
Pearl Enterprises, Inc.	$25,000	-$28,972
Benefit Concepts, Inc.	$25,000	-$28,972
Joyce Ladd Insurance Agency	$25,000	-$28,972
Fowler Davis, LLC	$25,000	-$28,972
Am Solutions, LLC	$25,000	-$28,972
Eacho Transport, LLC	$25,000	-$28,972
New Horizon Academy, LLC	$25,000	-$28,972
Business Evolution Pros, LLC	$25,000	-$28,972
Stingray Well Services, Inc.	$25,000	-$28,972
Growing Kings Incorporated	$25,000	-$28,972
KBC Trucking, LLC	$25,000	-$28,972
Simplifi Technology, Inc.	$25,000	-$28,972
MCS Logistics, LLC	$25,000	-$28,972
Baran Restaurant, Inc.	$25,000	-$28,972
RJNP Service	$25,000	-$28,972
A & K Harris Trucking, LLC	$25,000	-$28,972
Wholesome Living, Inc.	$25,000	-$28,972
Creative Healing	$25,000	-$28,972
York Truck Stop, LLC	$25,000	-$28,972
South Alabama Volunteer Lawyers Program	$25,000	-$28,972
Smooth Vapor, LLC	$25,000	-$28,972
Bray Insurance Agency, Inc.	$25,000	-$28,972
Rester's Auto, Inc.	$25,000	-$28,972
Message Point Media of Alabama, Inc.	$25,000	-$28,972
Valley Creek Baptist Church	$25,000	-$28,972
Army Aviation Museum Foundation, Inc.	$25,000	-$28,972
Alexis Wood	$25,000	-$28,972
Bells Stoked on Smoke Barbecue, Inc.	$25,000	-$28,972
Jeremy Hilton Insurance & Financial Se	$25,000	-$28,972
C. Rosinsky, Inc.	$25,000	-$28,972
Top Notch Pizza & BBQ	$25,000	-$28,972
Tim Clark & Associates, PC	$25,000	-$28,972
Model Nails by VJL, Inc.	$25,000	-$28,972
Model Nails by VJL, Inc.	$25,000	-$28,972
Crews Enterprises, Inc.	$25,000	-$28,972
TJ Elite Cheer, LLC	$25,000	-$28,972
N Stokes Express	$25,000	-$28,972
L & T Freight, LLC	$25,000	-$28,972
Raka, LLC	$25,000	-$28,972
Lake Martin Tractor & Outdoor, LLC	$25,000	-$28,972
Hairway to Heaven, LLC	$25,000	-$28,972
The Codi Nettles Agency, LLC	$25,000	-$28,972
Cook and Sons Ace Hardware, Inc.	$25,000	-$28,972
First Alert Tax Services, LLC	$25,000	-$28,972
A Team Industrial Products, Inc.	$25,000	-$28,972
The Vegabonds	$25,000	-$28,972
Helena's Family Doctor, LLC	$25,000	-$28,972
Advanced Office Solutions, LLC	$25,000	-$28,972
'Success 4 the Future' Charity Foundation 4 Kids Ages 3-18 I	$25,000	-$28,972
Alabama Dance Theatre	$25,000	-$28,972
Bcge Future, LLC	$25,000	-$28,972
Kelly's Cleaners, Inc.	$25,000	-$28,972
Little Champs Learning Academy, LLC	$25,000	-$28,972
Kalimera, LLC	$25,000	-$28,972
Autotread, Inc.	$25,000	-$28,972
Specialty Clinic, PC	$25,000	-$28,972
Gary Powers Development, Inc.	$25,000	-$28,972
Our Living Word, LLC	$25,000	-$28,972
Seniqs Variety Cafe	$25,000	-$28,972
Eastern Shore Inflatables	$25,000	-$28,972
Perfectnailspabythanhhaitran, LLC	$25,000	-$28,972
CB & K Services, LLC	$25,000	-$28,972
Vision 2 Reality, LLC	$25,000	-$28,972
Hibachi Grill USA, Inc.	$25,000	-$28,972
Himali, Inc.	$25,000	-$28,972
Utility Parts Central, Inc.	$25,000	-$28,972
G G Investment, LLC	$25,000	-$28,972
Happy Tots Daycare Center	$25,000	-$28,972
Cafe 302, LLC	$25,000	-$28,972
Michael Green	$25,000	-$28,972
Sydney Gilliland Construction Company, Inc.	$25,000	-$28,972