CHARLESTON, S.C. (WCSC) - We are getting our first look at loan amounts to local businesses from the federal government.
The U.S. Small Business Administration has released information on what businesses have received Paycheck Protection Program loans.
The federal government has given out over $521 billion worth of loans with several businesses locally receiving millions of dollars.
Among those who received between five and ten million dollars in loans include BGI in Mt Pleasant, Boomtown ROI in North Charleston, Chipton Ross Staffing in North Charleston, Johnson and Johnson in Mt Pleasant, Motley Rice in Mt Pleasant, Palmetto Primary Care Physicians in Charleston, and Farmers Telephone Cooperative in Kingstree.
Each of these seven businesses received between five to ten million dollars in loans.
According to the application for the loan, it will be completely forgiven if it’s used for payroll cost or interest on mortgage, rent or utilities.
We have reached out to these businesses to ask each what they have used their funds for.