There were 7,891 small businesses in Vermont which received Paycheck Protection Loans (PPP) of $25,000 or under. These 7,891 businesses received $101,167,661 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration
Loans of $25,000 were provided to 43 businesses.
The largest loan underneath the $25,000 threshold was $25,000, given to L. G. Page Roofing, Inc..
The average loan amount provided to Vermont small businesses was $81,541.
One of the biggest drivers causing inflation, which is currently decimating the U.S. economy, is loans. With more money available to residents through the PPP, the purchasing power of that money is diminished, meaning it takes more money to buy the same amount of goods as before.
Economist Mickey D. Levy argued the PPP and many other assistance programs offered during the COVID-19 pandemic sparked the inflation seen in recent months by boosting the economy beyond what it could reasonably handle.
Roughly $800 billion was injected into the U.S. economy while interest rates were low, causing people to overextend themselves at the time to land in trouble in the future, he claimed.
A 2022 study found that the PPP spent between $169,000 and $258,000 to protect one job. With the average salary of a small-business worker being around $58,000, the study found the program overspent by roughly 75 percent.
| Borrower Name | Loan Amount | Difference From Average Loan Amount in VT |
|---|---|---|
| L. G. Page Roofing, Inc. | $25,000 | -$56,541 |
| Kenmar, Inc. | $25,000 | -$56,541 |
| Great Bike Tours, LLC | $25,000 | -$56,541 |
| St. Johnsbury Psychology Associates | $25,000 | -$56,541 |
| Robert Sons Lawn Care | $25,000 | -$56,541 |
| Whim Boutique, LLC | $25,000 | -$56,541 |
| Allard Brothers Enterprises, LLC | $25,000 | -$56,541 |
| American Crafted Spirits Incorporated | $25,000 | -$56,541 |
| HML Group, Inc. | $25,000 | -$56,541 |
| Robert Sons Lawn Care | $25,000 | -$56,541 |
| Yella, LLC | $25,000 | -$56,541 |
| J. F. B., Inc. | $25,000 | -$56,541 |
| L. G. Page Roofing, Inc. | $25,000 | -$56,541 |
| Vermont Transportation Brokerage and Lo | $25,000 | -$56,541 |
| Everett Insurance Agency | $25,000 | -$56,541 |
| Grizzly Bear Enterprises, Inc. | $25,000 | -$56,541 |
| Fifth Element Associates, Inc. | $25,000 | -$56,541 |
| The Creative Accelerator of Nonprofits Owner, Inc. | $25,000 | -$56,541 |
| The Creative Accelerator of Nonprofits, Inc. | $25,000 | -$56,541 |
| Drydens Outdoor, Inc. | $25,000 | -$56,541 |
| Martone’s Market, LLC | $25,000 | -$56,541 |
| Glendenning, LLC | $25,000 | -$56,541 |
| Poultney Rescue Squad, Inc. | $25,000 | -$56,541 |
| Williamsville Child Care, Inc. | $25,000 | -$56,541 |
| Red Leaf Software, LLC | $25,000 | -$56,541 |
| Beth’s Skinovations | $25,000 | -$56,541 |
| Corelight Software, Inc. | $25,000 | -$56,541 |
| Keyes Plumbing & Heating, Inc. | $25,000 | -$56,541 |
| Midnight Express, LLC | $25,000 | -$56,541 |
| Great Bike Tours, LLC | $25,000 | -$56,541 |
| The Little School, Inc. | $25,000 | -$56,541 |
| Image Outfitters, Inc. | $25,000 | -$56,541 |
| 2 Hero’s Grill & Tiki Bar | $25,000 | -$56,541 |
| Essex Junction Grand Buffet | $25,000 | -$56,541 |
| Vermont Renewable Fuels, Inc. | $25,000 | -$56,541 |
| First Branch Ambulance & Rescue, Inc. | $25,000 | -$56,541 |
| Mark’s House of Parts, LLC | $25,000 | -$56,541 |
| Happy Valley Orchards, Inc. | $25,000 | -$56,541 |
| Nico Vega, LLC | $25,000 | -$56,541 |
| Tims Shop, Inc. | $25,000 | -$56,541 |
| SDH Enterprize | $25,000 | -$56,541 |
| Howe & Howe Attorney | $24,979 | -$56,562 |
| Ottauquechee Health Foundation-Sba Small 7a Term | $24,971 | -$56,570 |
| Twin Peaks Carpentry, LLC | $24,970 | -$56,571 |
| Aaron Archambault | $24,932 | -$56,609 |
| Sports & Family Chiropractic, Ltd. | $24,930 | -$56,611 |
| Sports & Family Chiropractic, Ltd. | $24,930 | -$56,611 |
| Andrea’s Salon, Inc. | $24,927 | -$56,614 |
| Alger Brook Design Build | $24,920 | -$56,621 |
| Everett Thurston | $24,918 | -$56,623 |
| Ross Environmental Associates | $24,910 | -$56,631 |
| 5 Generations Farmstead Creamery, LLC | $24,910 | -$56,631 |
| Them Apples, LLC | $24,905 | -$56,636 |
| Dorset Partners, LLC | $24,902 | -$56,639 |
| Sunwood Systems, LLC | $24,902 | -$56,639 |
| 5 of Clubs, LLC | $24,900 | -$56,641 |
| Deb’s Place, LLC | $24,900 | -$56,641 |
| Deb’s Place, LLC | $24,900 | -$56,641 |
| G & T, CORP. | $24,900 | -$56,641 |
| The Patrick Group, Inc. | $24,900 | -$56,641 |
| L. V. P., Inc. | $24,900 | -$56,641 |
| Church at the Well, Inc. | $24,900 | -$56,641 |
| Christopher Cain | $24,897 | -$56,644 |
| Bear Roots Farm, LLC | $24,877 | -$56,664 |
| Tuck’s Repair, LLP | $24,862 | -$56,679 |
| University Pizza, LLC | $24,862 | -$56,679 |
| Rick Lapan | $24,849 | -$56,692 |
| Soundfootings, LLC | $24,844 | -$56,697 |
| International Botanical Ingredients, LLC | $24,832 | -$56,709 |
| Village Creeme Stand, LLC | $24,830 | -$56,711 |
| Middlebury Fitness, Inc. | $24,830 | -$56,711 |
| Sarah E Wilson, Attorney at Law | $24,805 | -$56,736 |
| Morgan and Cassidy Toys, Inc. | $24,800 | -$56,741 |
| Guilmartin Enterprises, LLC | $24,800 | -$56,741 |
| George M. Ciavola PC, D.D.S. | $24,800 | -$56,741 |
| Michael Engineering Company, PC | $24,800 | -$56,741 |
| Capital Soccer Club, Inc. | $24,800 | -$56,741 |
| Piper Hill Plumbing | $24,800 | -$56,741 |
| Green Mountain Internal Medicine, PLC | $24,800 | -$56,741 |
| Capital Soccer Club, Inc. | $24,800 | -$56,741 |
| George M. Ciavola PC, D.D.S. | $24,800 | -$56,741 |
| Woodstock Area Jewish Community, Inc. | $24,800 | -$56,741 |
| Morgan and Cassidy Toys, Inc. | $24,800 | -$56,741 |
| Open Sesame, Inc. | $24,800 | -$56,741 |
| Brevin Systems, LLC | $24,790 | -$56,751 |
| Xtreme Grafix, LLC | $24,783 | -$56,758 |
| Northeast Kingdom Hemp | $24,781 | -$56,760 |
| Northeast Kingdom Hemp, Inc. | $24,781 | -$56,760 |
| R & R Sprinkler, Inc. | $24,780 | -$56,761 |
| Clean Genie, LLC | $24,777 | -$56,764 |
| Snowstone, LLC | $24,767 | -$56,774 |
| VL Perkins, Inc. | $24,765 | -$56,776 |
| S. T. Jude, Inc. | $24,750 | -$56,791 |
| S. T, Jude, Inc. | $24,750 | -$56,791 |
| Canton Donut and Bakery, Inc. | $24,739 | -$56,802 |
| Edward Drill | $24,733 | -$56,808 |
| International Botanical Ingredients, LLC | $24,727 | -$56,814 |
| Home Grown Property Management, LLC | $24,725 | -$56,816 |
| Richard A. & Barbara W. Snelling Center for Government, Inc. | $24,718 | -$56,823 |
| Richard A. & Barbara W. Snelling Center for Government, Inc. | $24,717 | -$56,824 |
