Many St. Mary businesses turned to Paycheck Protection Program

St. Mary Parish businesses and organizations borrowed at least $58.9 million, and almost certainly much more, under federal Paycheck Protection Program rules designed to keep workers on payrolls during pandemic shutdowns. The list includes some of the best-known names in the St. Mary business community.
According to numbers released earlier this month by the U.S. Small Business Administration, the number of jobs protected total 8,850. That’s equal to about half the total nonfarm employment in St. Mary reported by the Louisiana Workforce Commission in May.
The PPP is a federal response to the economic dislocations created by restrictions on business imposed to fight the spread of COVID-19. The federal money was dispensed by way of local banks, which presumably are familiar with the level of risk associated with businesses in their market.
The federal government may forgive the loans if recipient businesses keep workers on their payrolls and meet other requirements.
An exact total of loan values granted to St. Mary businesses can’t be calculated from the July SBA numbers. The loans to individual businesses are reported in ranges: $50,000-$150,000, $150,000-$350,000, $350,000-$1 million, $1 million-$2 million, $2 million-$5 million and $5 million-$10 million.
The $58,850,000 figure we calculated is based on the minimum figure in the range for each loan.
Among the recipients:
—Shipbuilder Conrad Industries Inc. of Morgan City received one of three St. Mary loans of at least $5 million. The loan through Hancock Whitney Bank protected 473 jobs, according to information submitted by the company.
Hancock Whitney, Patterson State Bank, M C Bank, Regions Bank, First National Bank of Jeanerette and BancCorp South were among the banks that operate locally and made loans to parish businesses under the PPP.
—Allison Marine of Morgan City was another recipient of a loan of at least $5 million. The SBA data release did not include a number of jobs protected by the loan.
—Gravois Aluminum Boats of Franklin received a loan of at least $5 million to protect 499 jobs.
—The Morgan City-based B&G family of companies, which operates restaurants across the western Gulf Coast, received five loans totaling at least $5.7 million targeting 1,693 jobs. B&G Food Enterprises Inc. and B&G Food Enterprises of Texas each received a loan of at least $2 million. B&G Capital & Gulf Coast Ventures received a loan of at least $1 million. B&G Diversified Concepts and B&G Lafayette Ventures received loans of at least $350,000 each.
—Gulf South Services Inc. of Morgan City received a loan of at least $2 million to protect 103 jobs.
—LAD Services of Louisiana, of Morgan City, received a loan of at least $2 million. The data do not include the number of jobs protected.
—Central Boat Rentals Inc. of Berwick received a loan of at least $2 million to protect 209 jobs.
Recipients of loans of $1 million-$2 million:
—Chabill’s Tire Service of Morgan City, 131 employees.
—Permanent Workers of Morgan City, 320 employees.
—Sewart Supply of Morgan City, 72 employees.
—Basin Fleeting Inc. of Berwick, 40 employees.
—Ironman Staffing of Berwick, 198 employees.
—Gulf Craft of Franklin, 64 employees.
—Sterling Sugars of Franklin, 100 employees.
—Twin Brothers Marine of Franklin, 100 employees.
—Crown Oilfield Services of Morgan City, 232 employees.
—New Industries of Morgan City, 100 employees.
—Permanent Workers of Morgan City, 320 employees.
Also among the business recipients was Hanagriff’s Machine Shop of Franklin, operated by Parish President David Hanagriff. The number of employees was not listed in the SBA data.
Private businesses were not the only St. Mary recipients of PPP loans.
The Teche Action Board Inc., which oversees Teche Action Clinic, received a loan of at least $2 million to protect 198 workers.
Hospital Service District No. 1, which owns Franklin Foundation Hospital, received a $2 million loan to protect 178 jobs.
Central Catholic School of Morgan City received a loan of at least $350,000 to protect 72 jobs.
A .pdf file listing all the recipients with Morgan City, Baldwin, Patterson, Franklin and Baldwin addresses can be downloaded from a link on this story at StMaryNow.com.