The Paycheck Protection Program (PPP) provided loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors and self-employed individuals could qualify for these loans, according to Harvard Business School.
A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.
A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.
The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.
PPP loans distributed in 2020 in ZIP Code 12307
| Name of Borrower | Current Approved Amount |
|---|---|
| Schenectady Community Action Program, Inc. | $1,254,958 |
| Noe Street, LLC | $524,947 |
| Alcoholism and Substance Abuse Council of Schenectady County | $335,935 |
| Mohawk Auto Sales, Inc. | $255,600 |
| David-Louis Floor Covering Corporation | $141,784 |
| Girls Incorporated of the Greater Capita | $114,108 |
| Schenectady Inner City Ministry | $108,100 |
| Custom Manufacturing Solutions, Inc. | $91,600 |
| JR Proprietors, Inc. | $90,427 |
| Silvergraphics Studios, Inc. | $78,700 |
| Chas. G. Burch, Inc. | $73,700 |
| David-Louis Associates, LLC | $64,300 |
| Wireless Hope | $35,000 |
| Tough Traveler, Ltd. | $33,268 |
| Caribbean Fast Casual, Inc. | $27,200 |
| Raysor Logistics Service | $25,000 |
| Irene Cummings | $20,450 |
| Nasir Willocks | $20,000 |
| J Pop, Inc. | $18,477 |
| Manhattan Deli & Grocery, Inc. | $18,100 |
| Abdul Qawu and Khalid, LLC | $14,500 |
| Viscusi's Aluminum Products, Inc. | $10,600 |
| Spotless Boat Detailing, LLC | $9,944 |
| Our Precious Sprouts Daycare | $9,500 |
| State Street Presbyterian Church | $8,598 |
| Media Well Done | $8,053 |
| Brian J Car Repair, LLC | $7,973 |
| State Street Pizzeria, Inc. | $7,800 |
| Merari Gonzalez | $7,635 |
| AA & A Deli Mart, Inc. | $7,300 |
| Z Deli Mart, Inc. | $6,500 |
| Hamilton Hill 'drop in' ARTS and Crafts Association, Inc. | $6,447 |
| NY Sportswear of Schenectady, Inc. | $5,200 |
| Marc Thompson | $5,000 |
| Dwight Jensen | $4,000 |
| Bobbie Joe Daycare | $3,928 |
| Quetcy Gonzalez | $3,708 |
| Kara Derenzo | $3,500 |
| M & O Market of Schenectady, Inc. | $3,200 |
| Caring and Sharing Daycare | $2,800 |
| Jocabel Gonzalez | $2,345 |
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