Coronavirus Relief Loans In Gig Harbor: Where PPP Money Went

GIG HARBOR, WA — Nearly 16,000 Washington businesses 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.

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 which businesses received PPP loans in Gig Harbor:

Here are a few local businesses who received PPP funds:

PPP between $150K - $350K

1. Harbor Montessori School
2. Galaxy Uptown
3. Cottesmore Childcare Centers

PPP between $350K - $1 million

1. North Shore Electric
2. Moctezumas Gig Harbor
3. Patriot Roofing

PPP between $1 million - $2 million

1. Braycon LLC
2. Winds Aloft LLC

PPP between $2 million - $5 million

1. Heritage Distilling Company
2. Washington Dental Corporation

PPP between $5 million - $10 million

1. Laborworks Industrial Staffing Specialists

Here is a complete list of all Washington businesses who have received PPP loans over $150,000. Tens of thousands more businesses received loans under $150,000.

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