KANSAS CITY, Mo. — Three Kansas City-area businesses were approved for $10 million loans — the maximum amount available through the Small Business Administration’s Paycheck Protection Program, according to data released this week by the agency.
The new data provides the most detailed look at the $659 billion program, which offered loans intended to keep businesses open and workers employed during the coronavirus pandemic. The data release marks the the first look at top-to-bottom lending to businesses around the country.
Though the data offers a look at companies that received loan approval, it does not necessarily mean the business eventually took all of the money or that the loan was completed.
Of the 34 area companies that were approved for loans of more than $5 million, here are the biggest approvals:
Bickford Senior Living Group LLC — The Olathe-based company operates 65 assisted-living facilities in 11 states, including one each in Mission, Overland Park and Raytown. Bickford’s application for a $10 million loan was approved by Leawood-based CrossFirst Bank on April 15. According to the data, the company expected to retain 500 jobs with the PPP funding. Bickford is led by President Andy Eby.
To see the other two top borrowers, visit the Kansas City Business Journal.