New data from the Small Business Administration reveals a fuller picture of what the Paycheck Protection Program dispersal looked like in North Texas.
The SBA released detailed information on which businesses received funds from the program late Tuesday as a result of a lawsuit by several news organizations, including the Dallas Business Journal’s parent, American City Business Journals.
More than $12.8 billion in PPP loans were given to 118,149 North Texas-based companies from April 3 to Aug. 8. The average loan was $108,547.
Nearly 30 businesses received the maximum $10 million loan, while 98% of the loans were for an amount less than $1 million.
Dallas companies received more than $3.7 billion in PPP loans, while their neighbors to the west in Fort Worth received more than $1.4 billion. Companies located in Plano, Irving, Arlington, Richardson, Frisco and Carrollton all received more than $350 million total in each city.
On a more granular level, businesses in ZIP code 75024 in Plano received the highest amount of PPP money, while more businesses in Frisco’s 75034 ZIP code received PPP loans than in any other ZIP.
Restaurants by far received the most PPP loans in North Texas. More than $951.4 million went to 5,300 eateries. That’s nearly 7% of all loans given to Dallas-Fort Worth businesses and more than twice as much as the next largest industry.
Health care businesses also received a large portion of North Texas PPP money. Physicians and dentists’ offices were two of the top 10 types of businesses that received the highest amount of loans.
The SBA’s data around gender, race and ethnicity was incomplete, with only a small portion of the North Texas businesses that received a loan identifying ownership by those metrics. However, some patterns could be gleaned.
Of businesses that disclosed the owner’s gender, male-owned establishments received more than four times more money than their female-owned counterparts, with three times more male-owned businesses receiving loans.
About 60% of the businesses that disclosed their owner’s race or ethnicity were owned by a white person. More than a fourth of the loans went to Asian-owned businesses, and less than 10% went to Hispanic-owned businesses and even less for Black and Indigenous owners.
Search PPP data here.
