The federal loans aided 2,245 businesses in Cedar Park and Leander. Of these, 231 businesses received loans over $150,000, including 154 Cedar Park businesses and 77 Leander businesses.
For businesses receiving up to $150,000, the average loan was $32,504.19. The average loan in Cedar Park was higher, at $33,232.47, and the average loan for Leander businesses was $31,312.64.
Nine businesses received loans between $2 million-$5 million—the highest loan range in the Cedar Park-Leander area. These businesses include American Constructors, Austin Wood Recycling, Bridgemoor Transitional Care, Cedar Park Autoworks, Firefly Aerospace, Revenue Cycle Billing Services, Tex Mix Partners, Thomas Oilfield Services and Vision Technologies. Two of these businesses are in Leander. The SBA only names businesses that received loans greater than $150,000.
The SBA released the data July 6 after it was sued by 11 media organizations, including the Associated Press, ProPublica, The New York Times and The Washington Post, over its initial refusal to release detailed loan information.
In Washington, D.C., lawmakers are discussing issuing another round of forgivable loans for businesses that have 100 or fewer employees and have experienced revenue loss of 50% or more during the pandemic.
Jack Flagler contributed to this report.
Note: Community Impact Newspaper received a PPP loan.