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

By First State Times

Nov 2, 2022

There were 8,841 small businesses in Delaware which received Paycheck Protection Loans (PPP) of $25,000 or under. These 8,841 businesses received $115,948,150 in total since the COVID-19 pandemic began, according to the U.S. Small Business Administration

Loans of $25,000 were provided to 60 businesses.

The largest loan underneath the $25,000 threshold was $25,000, given to Zero Gravity Group, LLC.

The average loan amount provided to Delaware small businesses was $80,175.

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

Borrower Name	Loan Amount	Difference From Average Loan Amount in DE
Zero Gravity Group, LLC	$25,000	-$55,175
On the Go Mobile Notary & Finger Printing Service, LLC	$25,000	-$55,175
Chatham Bay Construction Services, LLC	$25,000	-$55,175
Ball Trucking, CORP.	$25,000	-$55,175
Vivid Colors Carpet, LLC	$25,000	-$55,175
1440 Film Company	$25,000	-$55,175
Vanna Coast to Coast, Inc.	$25,000	-$55,175
K Squared Enterprises, LLC	$25,000	-$55,175
K Squared Enterprises, LLC	$25,000	-$55,175
E R Vickers, LLC	$25,000	-$55,175
R E D Technical, Inc.	$25,000	-$55,175
Modi Liquor, LLC	$25,000	-$55,175
TNML, Inc.	$25,000	-$55,175
Vinvish, Inc.	$25,000	-$55,175
SRK Enterprises, Inc.	$25,000	-$55,175
SRK Enterprises, Inc.	$25,000	-$55,175
Boutique Wearhouse Rehoboth Beach, LLC	$25,000	-$55,175
Nirmal Enterprises, Inc.	$25,000	-$55,175
Hornberger Management Consultants -Sba Small 7a Term, Inc.	$25,000	-$55,175
Hornberger Management Consultants, Inc.	$25,000	-$55,175
Nailed It Custom Contracting, LLC	$25,000	-$55,175
VT, LLC	$25,000	-$55,175
Delaware Animal Products, LLC	$25,000	-$55,175
Powered Wireless -Sba Small 7a Term, Inc.	$25,000	-$55,175
Nanuss, Inc.	$25,000	-$55,175
Nanuss Nanuss, Inc.	$25,000	-$55,175
Crab Du Jour of Dover, LLC	$25,000	-$55,175
Gita, Inc.	$25,000	-$55,175
SMP Enterprises, Inc.	$25,000	-$55,175
Custom Theater Design	$25,000	-$55,175
Sweeney Enterprises, Inc.	$25,000	-$55,175
Walton Bus Service, Inc.	$25,000	-$55,175
Broker Post Ground Crew	$25,000	-$55,175
Allen Jarmon Enterprises, Inc.	$25,000	-$55,175
Elite Solutions, Inc.	$25,000	-$55,175
Elite Solutions, Inc.	$25,000	-$55,175
Socially Wasted	$25,000	-$55,175
Vinyo Controls & Instrumentation	$25,000	-$55,175
Aurantium, LLC	$25,000	-$55,175
Magic Touch, Inc.	$25,000	-$55,175
JJK Services, LLC	$25,000	-$55,175
Captain Blue Hen Comics & Entertainment, Inc.	$25,000	-$55,175
Liguori & Morris	$25,000	-$55,175
Livingstone, LLC	$25,000	-$55,175
Appa, Inc.	$25,000	-$55,175
The Pool Doctor	$25,000	-$55,175
Robert a Friedberg PA, D.D.S.	$25,000	-$55,175
Technovie Consulting, Inc.	$25,000	-$55,175
Whitten's Fine Jewelry	$25,000	-$55,175
KC Janitorial Service, Inc.	$25,000	-$55,175
Minimad, Inc.	$25,000	-$55,175
Goldlife, LLC	$25,000	-$55,175
Blend of Friends, Inc.	$25,000	-$55,175
On the Go Mobile Notary & Finger Printing Service	$25,000	-$55,175
Delaware Prep Center, LLC	$25,000	-$55,175
Colonial Chapter-Sba Small 7a Term	$25,000	-$55,175
China King Deltona, Inc.	$25,000	-$55,175
Milton Mail Boxes., LLC	$25,000	-$55,175
Advance Technologies -Sba Small 7a Term, LLC	$25,000	-$55,175
BC Services, LLC	$25,000	-$55,175
T & D Developing, LLC	$25,000	-$55,175
Partners Realty, LLC	$25,000	-$55,175
Heneghan Bartolomeo, LLC	$24,974	-$55,200
Brandywine Total Health Care, Inc.	$24,949	-$55,226
William M Burris III, Inc.	$24,939	-$55,236
Emerald Lawn & Landscaping, LLC	$24,932	-$55,243
Ez Payroll, Inc.	$24,929	-$55,246
Bepro USA, Inc.	$24,925	-$55,249
Nassau Valley Vineyards LP	$24,907	-$55,268
Nonprofit Business Solutions, LLC	$24,907	-$55,268
Bargain Bills Marketplace, LLC	$24,900	-$55,275
TRI Oak Farms, Inc.	$24,900	-$55,275
Dave's Floor Coverings, Inc.	$24,900	-$55,275
Six Twenty Investments, LLC	$24,897	-$55,278
Six Twenty Investments, LLC	$24,897	-$55,278
Mindelah, Inc.	$24,891	-$55,284
Brandywine Staffing, LLC	$24,882	-$55,293
Friends Construction, LLC	$24,855	-$55,320
A. Carl Doubet Jr. Jewelers	$24,835	-$55,340
Hair World Two	$24,835	-$55,340
Blackwell Consulting, LLC	$24,833	-$55,342
DP Studios, Inc.	$24,827	-$55,348
St. Andrews Evangelical Lutheran Church	$24,825	-$55,350
J L Mechanical, Inc.	$24,825	-$55,350
JMS Property Management, Inc.	$24,823	-$55,352
Warrior Community Connect	$24,815	-$55,360
Elite Fitness, LLC	$24,810	-$55,365
Elite Fitness, LLC	$24,810	-$55,365
Elite Fitness, LLC	$24,810	-$55,365
J. L. Mechanical, Inc.	$24,800	-$55,375
St. Andrew S Presbyterian Church	$24,800	-$55,375
Elite Financial Service, LLC	$24,800	-$55,375
English Realty, LLC	$24,792	-$55,383
Brasure's Auto Repair, Inc.	$24,781	-$55,394
Sleepy Tooth Sedation, LLC	$24,777	-$55,397
Goodscents, Inc.	$24,777	-$55,398
Goodscents, Inc.	$24,777	-$55,398
Re Max Horizons, Inc.	$24,774	-$55,401
Myriads Retail Group, LLC	$24,770	-$55,405
The Pete Du Pont Freedom Foundation, LLC	$24,750	-$55,424