Over 480 Businesses In Amarillo Received PPP Loans To Stay Afloat
Some local business owners in the Texas panhandle are saying that the pandemic has been worse for them then the big recession of 2018. That's saying a lot, because if you can remember back, that was a really tough time for most of us. Now with state orders to close some businesses and reduce customer base, business owners are feeling a huge hit on their ability to keep the doors open and employees paid.
For the businesses that were able to stay open, it has come at a cost. Either you have lost staff due to layoffs or needed to take advantage of a Paycheck Protection Program (PPP) loan to stay afloat. In just the city of Amarillo alone, 482 businesses borrowed PPP loans to stay in businesses. According to PPPReport.org, those businesses listed borrowed at least $150,000 and up to $10 million dollars.
You can view the full list HERE. It includes everything from contractors and suppliers, to medical services, to entertainment and recreation.
As for other areas in the panhandle, there were 37 businesses in Canyon, 19 in Dumas, 23 in Borger, 49 in Hereford, and 42 in Dalhart. We wish the best for every local business and hope they can get back on their feet soon!