In the year since the federal Paycheck Protection Loan program rolled out, Alamance County businesses have received more than $263 million in funding to help support their enterprises during the COVID-19 pandemic.
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In an effort to show taxpayers where their money went, the Times-News is spending the next few weeks sharing data about PPP loan recipients, how much PPP money was funneled into the local economy, what cities were most assisted by the funding, and which industries have been supported by this funding.
This week, we’re looking at beauty salons and barbershops that received PPP funding. Because many of these businesses are sole proprietorships, the salon or shop owner's name is listed on the PPP application, rather than a business name.
In total, 106 beauty salons and barbershops throughout Alamance County received money from the program. The top 10 recipients include:
- Ayanna Graves: $56,320
- Kirby Turner: $20,833
- Lori Nelson: $20,833
- Sherrica Snipes: $20,833
- Stay Beautiful by Kerra: $20,832
- Sade Cousin: $20,832
- Erica Brown: $20,832
- Brittany Miller: $20,832
- Latorya Bumpass: $20,832
- James Rankin: $20,832
Seven of these businesses are in Burlington, two are in Gibsonville and one is in Graham.
More than half of the beauty salons and barbershops that applied for PPP loans received more than $10,000 and less than one-third of these applicants received less than $5,000.
The Paycheck Protection Program, which is overseen by the federal Small Business Administration, has been a lifeline for many businesses hurt by the coronavirus pandemic. It was established last year by the CARES Act to provide funding for businesses that spent loans mostly on payrolls. In January, the program was reopened for a new round of funding and allowed some businesses to get additional loans.
The PPP program closed to new applications on May 29, two days early because of demand that exhausted funding.
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Elizabeth Pattman is the trending topics reporter for the Times-News in Burlington, covering business, COVID-19 and all things trending. Contact Elizabeth (she/her) at epattman@gannett.com. I'm also available on social media @EPattmanTN on Twitter or @burlingtontimesnews on Instagram.
