Data: More than 16K employers in NC received PPP loans of at least $150K

North Carolina news

RALEIGH, N.C. (WNCN) — Pinehurst Resort and auto racing teams owned by Dale Earnhardt Jr. and Kyle Busch are among the more than 16,000 employers in North Carolina listed as receiving federal loans of at least $150,000.

But a spokesman for another recognizable name that appeared on the federal government’s list of recipients — Bojangles Inc. — said Monday night that the Charlotte-based company did not receive a loan through the Paycheck Protection Program.

The U.S. government on Monday released its report on the Paycheck Protection Program, which provided loans of up to $10 million to help small businesses keep paying their workers after widespread shutdowns caused by the coronavirus pandemic.

The federal database does not detail the specific amount of any of the loans, but instead groups the recipients into five classifications — with the smallest ranging between $150,000 to $350,000 and the largest between $5 million and $10 million.

The report by the U.S. Small Business Administration showed 121,917 employers in North Carolina — mostly businesses and nonprofits — received a total of $12.4 billion in loans, with 16,324 receiving amounts greater than $150,000. Businesses receiving that amount or greater were listed by name in the database, while those receiving less than $150,000 were not.

The data also did not say which employers, if any, may have already returned their loans.

There were 1,603 employers in Raleigh listed in the federal database, along with 325 in Cary, 603 in Durham, 293 in Fayetteville and 153 in Morrisville.

The top bracket involved loans of at least $5 million, with 100 employers in the state receiving those loans. Eight are located in Raleigh, six are in Durham and four more are in Fayetteville.

Seven of the eight employers in Raleigh listed at least 130 jobs retained with two of them — D.P. Preiss Company Inc. and Spectraforce Technologies Inc. — showing 500 workers. LMR LLC, the Raleigh-based parent company of Carolina Ale House, listed no retained jobs.

In Durham, EmergeOrtho P.A. also has 500 jobs retained and none of that city’s businesses in the highest loan bracket had fewer than 150 jobs retained. All four businesses in Fayetteville had at least 280 listed employees, led by The Logistics Company Inc. with 500 and Union Corrugating Company Holdings Inc. with 499.

The database showed 958 employers classified as nonprofit organizations, with many of those churches or schools, and another 21 as nonprofit child-care centers.

Across the state, among the businesses in the top loan bracket were Charlotte-based Bojangles Inc. and Pinehurst LLC, each showing a loan of at least $5 million. Both companies listed 500 jobs retained.

But Bojangles spokesman Brian Little told CBS 17 News that while the company did apply for a loan and was approved for one, “we ultimately decided not to proceed with loan” and did not receive it.

“I’m not sure why we would have been included, since we never signed loan documents or accepted funding,” Little said.

The hospitality industry has been particularly hard-hit during the pandemic, with restaurant dining rooms closed for roughly two months before reopening with limited capacity in May.

The database also showed Mooresville-based JR Motorsports, the race team owned by NASCAR Hall of Famer Earnhardt with 88 employees, with a loan between $1 million and $2 million. And Kyle Busch Motorsports Inc., which also is based in Mooresville and retained 71 jobs, showed a loan between $350,000 and $1 million. The virus forced NASCAR Cup Series to pause its season in mid-March, along with other sports across the country, with racing resuming May 17 without fans in the stands.

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