Almost 10 employers in Caldwell County were able to retain just under 600 jobs during the coronavirus pandemic thanks to the US Treasury Department’s Payroll Protection Program (PPP).
According to a US Small Business Administration (SBA) database nine employers in and around Princeton were able to receive funds from the program, which was made possible through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The database indicated Caldwell Medical Center received the most from the program, somewhere between $1 and $2 million, and was able to retain 130 jobs, with McEnaney Enterprises, Pennyroyal Healthcare Services, and Trice Hughes receiving between $350,000 and $1 million each, saving 271 jobs.
Other local employers receiving funds included Chad Howton Trucking, Cook Farms, Fortner Gas, Hudson Logistics, and JKC3 Enterprises, all of which received between $150,000 and $350,000, allowing 190 jobs to be retained during shutdowns.
Almost 6,500 loans were distributed to employers throughout Kentucky. Loans are forgivable if businesses use the funds to continue paying workers.
For a list of other Kentucky businesses who received funds from the program click here.
