South Louisiana Electric Cooperative Association received a Paycheck Protection Program loan between $1 to 2 million on May 19, according to the US Treasury Department.
There were 32 PPP loans issued in Louisiana during the week ending May 24. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Southwest Louisiana Electric Membership Corporation | 2020-05-18 | $5-10 million |
| Laureate Academy, Inc. | 2020-05-18 | $350,000-1 million |
| Levin Savoy | 2020-05-18 | $150,000-350,000 |
| Methods Technology Solutions | 2020-05-18 | $150,000-350,000 |
| National Aqua Pressure, LLC | 2020-05-18 | $150,000-350,000 |
| South Louisiana Electric Cooperative Association | 2020-05-19 | $1-2 million |
| St. Aloysius School | 2020-05-19 | $350,000-1 million |
| Yousef and Sons, Inc. | 2020-05-19 | $350,000-1 million |
| Gardia Construction, LLC | 2020-05-19 | $150,000-350,000 |
| J & J Electrical and Instrumentation Service, Inc. | 2020-05-19 | $150,000-350,000 |
| Mike Pedersen’s Lake Charles Auto Auction, Inc. | 2020-05-19 | $150,000-350,000 |
| Washington-St. Tammany Electric Cooperative, Inc. | 2020-05-20 | $2-5 million |
| C’Estate Bon Seafood, L.L.C. | 2020-05-20 | $350,000-1 million |
| Baton Rouge Primary Care Collaborative, Inc. | 2020-05-20 | $150,000-350,000 |
| Jesohn, Inc. | 2020-05-20 | $150,000-350,000 |
| Neal Auction Company, Inc. | 2020-05-20 | $150,000-350,000 |
| Rosenberger Site Solutions, LLC | 2020-05-21 | $1-2 million |
| Adell Compounding, Inc. | 2020-05-21 | $350,000-1 million |
| Ambulance Service District No. 1 of Lafourche Parish | 2020-05-21 | $350,000-1 million |
| Thompson Packers, Inc. | 2020-05-21 | $350,000-1 million |
| Next Generation Logistics, LLC | 2020-05-21 | $150,000-350,000 |
| Operation Spark | 2020-05-21 | $150,000-350,000 |
| Southeast Restaurant Group-Eastbank, LLC | 2020-05-21 | $150,000-350,000 |
| Southeast Restaurant Group-Miami, Inc. | 2020-05-21 | $150,000-350,000 |
| St. Alphonsus School | 2020-05-21 | $150,000-350,000 |
| Hebert Real Estate Holdings, LLC | 2020-05-22 | $350,000-1 million |
| EWC Staffing, L.L.C. | 2020-05-22 | $150,000-350,000 |
| Haven’s Gateway Personal Care Facility, Inc. | 2020-05-22 | $150,000-350,000 |
| Hubbs Properties, LLC | 2020-05-22 | $150,000-350,000 |
| Memo Painting Company, Inc. | 2020-05-22 | $150,000-350,000 |
| MK Simmons Construction, LLC | 2020-05-22 | $150,000-350,000 |
| Southeast Restaurant Group-Harvey, LLC | 2020-05-22 | $150,000-350,000 |
