Businesses in Brentwood and Franklin, especially in the business heavy districts of Maryland Farms and Cool Springs, secured the biggest portion of the Paycheck Protection Program loans in Williamson County.
More than 6,000 businesses in the county received a loan through the nearly $650 billion program designed to help businesses pay employees during the coronavirus pandemic.
If businesses use most of the money to pay employees, or for some other operating expenses like rent, then they don’t have to pay back the loan. Otherwise, the payment becomes a low interest loan.
In total, those businesses pulled in somewhere between $439 million and $687 million through the Paycheck Protection Program. Davidson County businesses received between $1.1 billion and $1.9 billion.
More than 3,400 businesses in Franklin received loans and more than 2,000 businesses got a loan in Brentwood. (Some businesses with a Brentwood address were located in Davidson County.) More than 500 companies in Spring Hill received a loan and more than 300 in Thompson’s Station.
Based on the available data, it appears that male-owned businesses received more loans than female owned businesses—primarily because there are many more male-owned businesses in the county—and that gap increased as the size of the loan increased. However, it's important to note that the vast majority of loan applicants did not report the sex of the owners.
Nearly 300 banks processed loans for Williamson County businesses. Pinnacle Bank was the most active lender in the county, processing more than 1,000 loans. Regions Bank and First Horizon processing more than 600 loans a piece for Williamson County businesses.
Franklin Synergy Bank, which recently merged with FirstBank, processed 318 loans. Brentwood based Reliant Bank processed 160 loans for Williamson County customers.
Businesses in the professional services industry received the highest number of loans in Williamson County. The vast majority of loan recipients were for-profit companies, but more than 200 nonprofit organizations also received loans.
Search for Williamson County companies that received loans worth more than $150,000 below.
The U.S. Small Business Administration recently released some details — such as the approximate size of the loan, the location of the business and the demographics of the business owners — for specific loans.
The SBA identified businesses that received a loan of $150,000 or more by name, but only provided a range, such as $150,000 to $350,000, for the value of the loan.
For loans below $150,000, the SBA provided the exact value of the loan, but did not provide the name of the business. The SBA did identify the zip code for those businesses.
The SBA data did not include information about the county of the business. The Home Page determined the county for large loans using the street address.
Determining the county for small loans, which only have a zip code, is less accurate. Several zip codes cross county lines. For the purposes of this story, the Home Page used the following zip codes to classify loans as within Williamson County
Some of those zip codes contain parts of other counties. There are some other zip codes not included that have small areas within Williamson County. However, this list is the closet approximation of the county line.