MoCo Businesses Receive Approximately $2.5 Billion in Federal COVID-19 Relief Funds

MoCo businesses receive approximately $2.5 billion in federal COVID-19 relief funds

17,323 MoCo businesses received loans from the Small Business Association’s Paycheck Protection Program (PPP). Congress passed the PPP in early April to boost small business damaged by the pandemic.

MoCo loan recipients include:

  • 754 restaurants, approximately $88 million
  • 302 religious organizations, approximately $42 million
  • 350 beauty and nail salons, approximately $19 million
  • 110 fitness and recreational sports centers, approximately $8.3 million
  • 77 car dealerships, approximately $63 million
  • 74 private schools, approximately $62 million

The government will forgive part or all of a loan if the receiving business meets certain criteria, including the retention of employees. In total, MoCo’s loans applications call for 188,847 jobs to be retained.

  • Restaurants
    • Silver Diner, $5-10 million, for all 19 locations across three states
    • Denizens, $350 thousand-1 million
    • Fresh Baguette, $350 thousand-1 million
    • Iron Age Rockville, $350 thousand-1 million
    • TPSS Co-op, $350 thousand-1 million
    • Bethesda Bagels, $150-350 thousand
    • Tastee Diner, $150-350 thousand, one loan for each location
    • Silver Branch Brewing, $150-350 thousand
    • Peter Chang Rockville, $150-350 thousand
  • Schools
    • Bullis, $2-5 million
    • Charles E. Smith Jewish Day School, $2-5 million
    • Stone Ridge, $2-5 million
    • Georgetown Prep, $2-5 million
    • Landon School, $2-5 million
    • Good Counsel, $2-5 million
    • Sandy Springs Friends, $2-5 million
    • St. Andrew’s, $2-5 million
    • Washington Adventist University, $2-5 million
    • Holy Cross, $1-2 million
  • Other
    • Leisure World, $2-5 million
    • The Village at Rockville, $2-5 million
    • Foulger-Pratt, $1-2 million, developers of Downtown Silver Spring
    • Strathmore Hall Foundation, $350 thousand-1 million

By Prayag Gordy

 

Recent Stories

A Wind Advisory remains in effect on Wednesday, starting at 6pm until 4am Thursday.

Los Chorros Restaurant, located at 2420 Blueridge Ave., has been servicing the Wheaton area since 1989. This month the restaurant is celebrating its 35th anniversary.

MoCo High School Sports Playoff Scores for Feb 27, 2024:

On Monday afternoon, the Washington Capitals organized an engaging hockey clinic for fifth-grade students at Rolling Terrace Elementary School (705 Bayfield St. Takoma Park, MD).

AC Milan Soccer Camp at Maryland Soccerplex

AC Milan Academy is hosting a soccer camp at Maryland Soccerplex from March 1st through March 3rd for girls and boys aged 5 to 16 from any club who want to develop their soccer skills and learn the unique methodology of AC Milan directly from AC Milan coaches.

March 1st (Friday) 6pm-7:30pm

March 2nd (Saturday) 6pm-7:30pm

March 3rd (Sunday) 10:30am -12pm and 3:30pm-5pm

Location:18031 Central Park Cir, Boyds, MD 20841

Price: $349 + AC Milan Junior Camp Kit

×

Subscribe to our mailing list