The Paycheck Protection Program (PPP) provided loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors and self-employed individuals could qualify for these loans, according to Harvard Business School.
A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.
A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.
The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.
PPP loans distributed in 2020 in ZIP Code 11965
| Name of Borrower | Current Approved Amount |
|---|---|
| North Ferry Company, Inc. | $920,100 |
| Mullen Motors, Inc. | $449,000 |
| The Beach House, LLC | $370,300 |
| J. W. Piccozzi, Inc. | $219,410 |
| Liberty Lawn and Landscape, LLC | $142,060 |
| Scott, Ofrias & Scott, Inc. | $111,500 |
| Foils %26 Follies, LLC | $99,308 |
| Reich/eklund Construction, Inc. | $95,037 |
| Shelter Island Heights Property Owners Corporation | $69,400 |
| Springer Property Management, LLC | $60,200 |
| Bkit Holdings, LLC | $41,787 |
| The Homestead Garden & Design | $36,200 |
| Reza Nouranian Design | $20,833 |
| Teodoru Plumbing, Inc. | $19,100 |
| G' N Kenk Enterprise, Inc. | $15,167 |
| Longevity Point Advisors, LLC | $14,942 |
| Shelter Island Municipal Golf Course, Inc. | $14,300 |
| Sweetie, Inc. | $14,000 |
| Island Antique and ART Gallery, Inc. | $7,755 |
| Olinkiewicz Contracting, Inc. | $4,700 |
| Parrish Properties, Inc. | $4,167 |
| William Hannabury | $3,900 |
| Stearns Point Properties, Inc. | $3,800 |
| Paint Chip, Inc. | $3,700 |
| W. E. Rest., Inc. | $3,615 |
| Planet Bliss, Inc. | $2,042 |
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