Breakdown: How North Texas PPP Loans Stack By Zip Code
Which areas of Dallas-Fort Worth – and industries – have benefited the most from the SBA’s P3?
The Small Business Administration recently released data on the Paycheck Protection Program earlier this month and shows a partial breakdown of how the distribution of loan money went in North Texas. .
The part of the PPP loan information that the SBA has released contains data down to the zip code for recipients approved for funding.
The PPP loans were intended to help small businesses overcome the economic fallout and uncertainty caused by the coronavirus pandemic.
The data shows which entities have been approved for PPP loans of $ 150,000 or more, but does not show specific loan amounts for each entity. Instead, loan amounts are categorized into ranges:
- $ 150,000 to $ 350,000
- $ 350,000 to $ 1 million
- $ 1 to $ 2 million
- $ 2 to $ 5 million
- $ 5-10 million
The data provided by the SBA does not show whether the PPP loans were used by the respective entities or whether the small businesses returned the funds. Some businesses may have repaid loans after deciding they don’t need them.
Since the data was released, the Dallas Business Journal has looked at loan distributions, which industries and regions in North Texas have benefited the most:
Distribution of PPP Loans by Postal Code in Dallas-Fort Worth
Nearly 112,000 DFW-based entities have been approved for PPP loans that has 100% guarantee, and businesses in the region have been approved for 28.8% of all PPP loans approved in Texas, according to Business Journal analysis.
For this research, North Texas is defined as Collin, Cooke, Dallas, Denton, Ellis, Grayson, Johnson, Kaufman, Parker, Rockwall, Tarrant, and Wise counties.
Data shows that 26,300 Dallas-based entities were approved for PPP loans, while Fort Worth had 10,290 approved entities and 6,400 companies in Plano. Meanwhile, Arlington had 4,600 companies approved for PPP, Frisco had 4,000 loans approved, and Irving had 3,720.
The P3 loan money that was approved was more concentrated in North Dallas than in other areas of Dallas. Of the top five ZIP codes that got the most PPP loan approvals in DFW, three made it into the Business Journal’s list of richest ZIP codes in 2019 :.
The highest zip code to receive approval for PPP loans is 75034, which has received 1,871 approvals. The postal code has a median household income of $ 116,962. Meanwhile, 75093 has a median household income of $ 102,889 and has received 1,666 PPP loan approvals. Postal code 76092 has received 1,452 P3 loan approvals and has a median household income of $ 207,127.