Inflation Woes: Did PPP loans $25,000 or under to Ohio businesses contribute to inflation?

By Buckeye Reporter

Nov 2, 2022

There were 103,735 small businesses in Ohio which received Paycheck Protection Loans (PPP) of $25,000 or under. These 103,735 businesses received $1,369,593,956 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration

Loans of $25,000 were provided to 771 businesses.

The largest loan underneath the $25,000 threshold was $25,000, given to Bud May, Inc..

The average loan amount provided to Ohio small businesses was $75,581.

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.

Top 100 Ohio Businesses Which Received PPP Loans $25,000 or Lower

Borrower Name	Loan Amount	Difference From Average Loan Amount in OH
Bud May, Inc.	$25,000	-$50,581
Coshocton Lodge No. 935 Loyal Order of Moose	$25,000	-$50,581
Nailtique Salon & Spa, Inc.	$25,000	-$50,581
Ideal Property Maintenance, LLC	$25,000	-$50,581
Young Steps Daycare and Preschool	$25,000	-$50,581
Fat Willies, LLC	$25,000	-$50,581
Kindig Coudriet Nursery	$25,000	-$50,581
Health Solution Centers of Lorain	$25,000	-$50,581
Advansource Consulting, Inc.	$25,000	-$50,581
Vitantonio Previte Funeral Home, Inc.	$25,000	-$50,581
Te Enterprises, LLC	$25,000	-$50,581
Robert Eric Burns Inc., D.D.S.	$25,000	-$50,581
Hamad's Auto Repair	$25,000	-$50,581
K2dsquared, LLC	$25,000	-$50,581
Kren Consulting, LLC	$25,000	-$50,581
Willig Tire and Auto, LLC	$25,000	-$50,581
Alexander Construction Company and Concrete Construction, LLC	$25,000	-$50,581
Applied Technical Products, LLC	$25,000	-$50,581
C-Suites Property Management, Inc.	$25,000	-$50,581
Kettering Building Services, LLC	$25,000	-$50,581
Omni Advanced Hearing Aid Centers of Ohio	$25,000	-$50,581
HH&G Stores, Inc.	$25,000	-$50,581
Help Malawi	$25,000	-$50,581
Joseph E Budde, Attorney at Law	$25,000	-$50,581
All His Transport, Inc.	$25,000	-$50,581
Washbush Business Law, LLC	$25,000	-$50,581
K. A. Topy Tax and Accounting, LLC	$25,000	-$50,581
Vermilion River Enterprises, LLC	$25,000	-$50,581
Castle Landscaping, Inc.	$25,000	-$50,581
Hurst Limited, LLC	$25,000	-$50,581
Major Insurance Agency, LLC	$25,000	-$50,581
DFO Sports Enterprise, LLC	$25,000	-$50,581
2 Tones, LLC	$25,000	-$50,581
Growing Leaders Enrichment Center	$25,000	-$50,581
Recreational Liquidators, Ltd.	$25,000	-$50,581
Thetaxpert	$25,000	-$50,581
Zone 5 Enterprises, LLC	$25,000	-$50,581
Shaun's Auto Care, LLC	$25,000	-$50,581
Artcrete, Ltd.	$25,000	-$50,581
Holiday Real Estate Investment, LLC	$25,000	-$50,581
Horizon Point Home Inspections	$25,000	-$50,581
Maumee Pro Mow, LLC	$25,000	-$50,581
Union Capital Escrow, CORP	$25,000	-$50,581
Mill Drives, Inc.	$25,000	-$50,581
Dairy More, LLC	$25,000	-$50,581
Personal Touch Property Solutions, LLC	$25,000	-$50,581
Franks & Sammies, LLC	$25,000	-$50,581
Adolph Optical Service, Inc.	$25,000	-$50,581
Automated Control Design, Inc.	$25,000	-$50,581
The Wright Puff, LLC	$25,000	-$50,581
BB Brigham Remodeling, LLC	$25,000	-$50,581
Searle Enterprises, Inc.	$25,000	-$50,581
Drain Doctor RX	$25,000	-$50,581
Sela Salon and Spa, LLC	$25,000	-$50,581
Dirty Girl Cleaners, LLC	$25,000	-$50,581
Demill Tool, Inc.	$25,000	-$50,581
Richelle Dental Ceramics, Inc.	$25,000	-$50,581
Captain Sam, LLC	$25,000	-$50,581
Mary Ella Homes and Provider Services, LLC	$25,000	-$50,581
Tackett Tree Experts, LLC	$25,000	-$50,581
Henry and Associates Research and Consulting, LLC	$25,000	-$50,581
C. D. Green and Associates, LLC	$25,000	-$50,581
Demetrios V, LLC	$25,000	-$50,581
Garrett Tax & Business Services, LLC	$25,000	-$50,581
DTT Capital Advisors, LLC	$25,000	-$50,581
Ability to Thrive, Inc.	$25,000	-$50,581
Jepaco	$25,000	-$50,581
Star Quality Cleaning	$25,000	-$50,581
Equus Group, LLC	$25,000	-$50,581
Jack a Zettler Company LPA	$25,000	-$50,581
Seeds, Inc.	$25,000	-$50,581
Clark Fruit and Vegetable Farm, Inc.	$25,000	-$50,581
Clutch Performance Lawn & Landscape, LLC	$25,000	-$50,581
Goliath Expediting, LLC	$25,000	-$50,581
Spirit Auto Services	$25,000	-$50,581
Henry and Associates Research and Consulting, LLC	$25,000	-$50,581
Stephen E Mindzak Law Offices, LLC	$25,000	-$50,581
Kerns Roofing and Restoration, LLC	$25,000	-$50,581
The Keller Group Properties, Inc.	$25,000	-$50,581
David Ceaser Lucas Lu'verse, Inc.	$25,000	-$50,581
Scabeda Group, Inc.	$25,000	-$50,581
Heart of the Outdoors	$25,000	-$50,581
Middaugh Printers, Inc.	$25,000	-$50,581
Olive Tree Food & Fashion, CORP	$25,000	-$50,581
GW2, LLC	$25,000	-$50,581
GW2, LLC	$25,000	-$50,581
Fourscene Enterprises, LLC	$25,000	-$50,581
Fit ME Up, LLC	$25,000	-$50,581
Advanced Family Medicine, LLC	$25,000	-$50,581
Jay USA, LLC	$25,000	-$50,581
Flag City Sport and Spine, LLC	$25,000	-$50,581
Cedar Petroleum, LLC	$25,000	-$50,581
Yoder Agency, LLC	$25,000	-$50,581
Northpointe Advisory Services, LLC	$25,000	-$50,581
Lynn Industries, LLC	$25,000	-$50,581
Five P, Inc.	$25,000	-$50,581
Islamic Center of Greater Toledo	$25,000	-$50,581
Suchanek Partners, LLC	$25,000	-$50,581
Diagnostic Pathology Association, Inc.	$25,000	-$50,581
The Brain Rehabilitation and Integrative	$25,000	-$50,581