Coronavirus Relief Loans In Cornelius: Where PPP Money Went

CORNELIUS, NC — More than 16,000 North Carolina businesses and non-profits have received loans from the Paycheck Protection Program, or PPP, to help pay their employees during the coronavirus pandemic.

PPP loans were established as part of the federal government's CARES Act, and are similar to grants: they will be forgiven as long as businesses keep its employees on their payroll, without cutting their pay. However, the money does not necessarily have to go directly to employees as long as the business keeps paying them, it can also be used to pay interest on mortgages, rent, and utilities.

On Monday, the U.S. Small Business Administration released data showing that nearly 5 million businesses have received PPP loans totaling over $521,000,000,000. The U.S. Treasury says that money has supported 51.1 million jobs, as much as 84 percent of America's small business employees.

Here's an interactive map that shows many of the businesses that received PPP loans valued above $150,000 in Cornelius:

Here are some of the local businesses in Cornelius who received PPP funds:

PPP between $150K - $350K

• Alton's Kitchen & Cocktails LLC
• Cashion's Food Mart, Inc.
• Cowboy LKN LLC
• Jenkins Daycare Inc
• Lakeside Charter Academy
• Life Fellowship Church

PPP between $350K - $1 million

• Hello Sailor LLC
• Lake Norman Nissan, LLC
• Captiva Restaurant Group LLC
• Knipp Law Office PLLC

PPP between $1 million - $2 million

• The Peninsula Club, Inc
• The Core Training Inc
• South Creek Construction

PPP between $2 million - $5 million

• C&C Boiler Sales & Service, Inc
• Premier Workforce Inc.

A complete list of all North Carolina businesses who have received PPP loans over $150,000 may be downloaded here. Tens of thousands more businesses received loans under $150,000.

Learn more about PPP loans at the SBA's website here.

Lucas Combos, Patch Staff, contributed