Small Business Administration releases all PPP recipients

BONNERS FERRY — More than 31,000 Idaho businesses received Paycheck Protection Program loans, a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

According to the Small Business Administration data, 16 Boundary County businesses received PPP loans ranging from $150,000 to $2 million, while 59 businesses received loans under $150,000.

Detailed on the SBA website, borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities.

According to the Commissioners’ minutes, Boundary Economic Development Council Director, Dennis Weed spoke to commissioners in regards to the PPP funds.

“Right now he’s [Weed] in the middle of filling out paperwork regarding there being fraud of these funds so he’s getting notifications for the Small Business Administration.”

The minutes also stated there has been a lot of fraudulent behavior across the country so that is getting rectified.

It was later revealed that vocal advocates against government handouts have received funding such as The Idaho Freedom Foundation, a nonprofit libertarian policy group in Boise, which accepted $129,883 to support six employees.

Idaho Lt. Gov. Janice McGeachin received $314,727 under the PPP loan, and had shared an Op-Ed to publications stating “For those who advocate socialized medicine, unearned income and other handouts, there really is no amount of spending that would satisfy them.”

The first round of the PPP faced criticism because there were some larger businesses that received some of the biggest loans and because banks prioritized applicants that had preexisting relationships with them

Currently, there is Bipartisan support in the U.S. Congress for a second stimulus bill that would include another round of PPP loans for small businesses.

Although there were 16 businesses that received a total of $6,261,764 in PPP loans, that number is significantly less in comparison to many of the counties in Idaho.

Full Disclosure: Bonners Ferry Herald’s parent company, Hagadone Corporation has minority share ownership of Kootenai River Inn Casino and Spa.