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

By Great Lakes Wire

Nov 2, 2022

There were 90,416 small businesses in Michigan which received Paycheck Protection Loans (PPP) of $25,000 or under. These 90,416 businesses received $1,201,711,302 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration

Loans of $25,000 were provided to 601 businesses.

The largest loan underneath the $25,000 threshold was $25,000, given to Recreation Company, Inc..

The average loan amount provided to Michigan small businesses was $82,311.

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 Michigan Businesses Which Received PPP Loans $25,000 or Lower

Borrower Name	Loan Amount	Difference From Average Loan Amount in MI
Recreation Company, Inc.	$25,000	-$57,311
Paganus, LLC	$25,000	-$57,311
Paul' S Fine Jewelry & Gifts, Inc.	$25,000	-$57,311
Five Star Signs, Inc.	$25,000	-$57,311
Eagle Harbor INN Resort, Inc.	$25,000	-$57,311
Glenn R Parker Electrical, LLC	$25,000	-$57,311
Reasonable Flooring, LLC	$25,000	-$57,311
Labelle Lounge, Inc.	$25,000	-$57,311
Jerry's Installation, Inc.	$25,000	-$57,311
Okray Restaurant, LLC	$25,000	-$57,311
Pederson P, LLC	$25,000	-$57,311
Dija Hair Design	$25,000	-$57,311
Gordon Won	$25,000	-$57,311
Inspired Health Chiropractic, P.C.	$25,000	-$57,311
3 B S Engineering, LLC	$25,000	-$57,311
Vertex Auto Corporation	$25,000	-$57,311
Rootead Family Enrichment Center	$25,000	-$57,311
Bright Looks Painting & Basement Remodeling, Inc.	$25,000	-$57,311
Kerkstra Waste Recovery and Environmental Services, Inc.	$25,000	-$57,311
Bergdahl's, Inc.	$25,000	-$57,311
Discount Transmissions, Inc.	$25,000	-$57,311
The Longcore Group, LLC	$25,000	-$57,311
Adnan Khazaal PC Dental ART Clinic, D.D.S.	$25,000	-$57,311
Impact Dynamic Training, LLC	$25,000	-$57,311
Leong Garden, LLC	$25,000	-$57,311
Andrews on the Corner	$25,000	-$57,311
Tims Flooring, LLC	$25,000	-$57,311
Aristocat Limo Service, Inc.	$25,000	-$57,311
VHF, II, Inc.	$25,000	-$57,311
Greenwood Studio, LLC	$25,000	-$57,311
Crossbow INN	$25,000	-$57,311
Indira Brar PC, M.D.	$25,000	-$57,311
K&F Services, Inc.	$25,000	-$57,311
Platte River Construction, Inc.	$25,000	-$57,311
Alsentis, LLC	$25,000	-$57,311
Primemed Analytics, LLC	$25,000	-$57,311
TRG Financial Solutions	$25,000	-$57,311
H & H Signs, LLC	$25,000	-$57,311
Studio 91 Salon and Spa, LLC	$25,000	-$57,311
Le Host, LLC	$25,000	-$57,311
Le Host, LLC	$25,000	-$57,311
Bug Juice International, Inc.	$25,000	-$57,311
Bug Juice International, Inc.	$25,000	-$57,311
All Task Cleaning, LLC	$25,000	-$57,311
Chappell Enterprises, Inc.	$25,000	-$57,311
Alpha Family Dental, P.C.	$25,000	-$57,311
All Invest, Inc.	$25,000	-$57,311
Sun of a Beach Company, LLC	$25,000	-$57,311
Brad Holmstrom Trucking, Inc.	$25,000	-$57,311
Progressive Physical Therapy, PLC	$25,000	-$57,311
Jon Gilroy Insurance Agency, LLC	$25,000	-$57,311
Integrated Behavior Health Psychological Services	$25,000	-$57,311
Ameriscape Outdoor Services	$25,000	-$57,311
WNC of Grand Rapids 2, LLC	$25,000	-$57,311
George Familys, Inc.	$25,000	-$57,311
Keweenaw Benefits and Associates, Inc.	$25,000	-$57,311
HD Building Services	$25,000	-$57,311
Punjab Sweets of Troy, Inc.	$25,000	-$57,311
Shihata Nelson	$25,000	-$57,311
Karen Thomas Agency	$25,000	-$57,311
Harrison Capital Corporation	$25,000	-$57,311
Beauty, Pampering and Stress Management, LLC	$25,000	-$57,311
Great Lakes Repair and Towing, LLC	$25,000	-$57,311
Village Palm, GP	$25,000	-$57,311
Prolific Ip Consulting, Inc.	$25,000	-$57,311
Bid /Nautical Lanes, Inc.	$25,000	-$57,311
Neveux & Associates, PLC	$25,000	-$57,311
Ki WA Jip	$25,000	-$57,311
Michigan Business Law Center, PLLC	$25,000	-$57,311
DR Mark P Williams, PC	$25,000	-$57,311
Anew Life Prosthetics and Orthotics, LLC	$25,000	-$57,311
A2Z Facility Maintenance, Inc.	$25,000	-$57,311
BLY & BLY Analysis, LLC	$25,000	-$57,311
Champion & Baer, Inc.	$25,000	-$57,311
Peters Paint Repair Service	$25,000	-$57,311
Salon Serenity & Spa, LLC	$25,000	-$57,311
Village Resort Properties, Inc.	$25,000	-$57,311
Hmjanson Insurance Solutions, Inc.	$25,000	-$57,311
Hypothesi, LLC	$25,000	-$57,311
GSM Recruiting, LLC	$25,000	-$57,311
Northern Michigan Aquatics, Inc.	$25,000	-$57,311
Kaplovitz & Associates, PC	$25,000	-$57,311
The Fighting Fit, Inc.	$25,000	-$57,311
JP Precision, Inc.	$25,000	-$57,311
Physician Data Services, Inc.	$25,000	-$57,311
Potestato Dental Laboratory, Inc.	$25,000	-$57,311
U. S. Evaluation Services, LLC	$25,000	-$57,311
Glenn Kunkel	$25,000	-$57,311
Future Nails, LLC	$25,000	-$57,311
Future Nails, LLC	$25,000	-$57,311
Mei Mee Sprouting, Inc.	$25,000	-$57,311
Karadolian Holdings, Inc.	$25,000	-$57,311
Mac's Garage, LLC	$25,000	-$57,311
Jinsung	$25,000	-$57,311
Arise Detroit!	$25,000	-$57,311
Ready Technician Engineering, LLC	$25,000	-$57,311
Vertex Auto Corporation	$25,000	-$57,311
Papas Place Adult Day Care, LLC	$25,000	-$57,311
The Stadium	$25,000	-$57,311
NK Designs, Inc.	$25,000	-$57,311