Regency at Puakea, LLC received a Paycheck Protection Program loan between $350,000 to 1 million on May 29, according to the US Treasury Department.
There were nine PPP loans issued in Hawaii during the week ending May 31. The average loan size in the state was between $150,000 to 350,000.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Pacific Wireless Communications, LLC | 2020-05-26 | $150,000-350,000 |
| Henry’s Equipment Rental & Sales, Inc. | 2020-05-27 | $350,000-1 million |
| Island Dental, LLC | 2020-05-27 | $150,000-350,000 |
| Kennedy Construction Corporation | 2020-05-28 | $150,000-350,000 |
| L Siracusa & Associates, Inc. | 2020-05-29 | $1-2 million |
| MBSB Hualalai, LLC | 2020-05-29 | $350,000-1 million |
| Regency at Puakea, LLC | 2020-05-29 | $350,000-1 million |
| Fepsco, Inc. | 2020-05-29 | $150,000-350,000 |
| Hawaii Association of Realtors | 2020-05-29 | $150,000-350,000 |
