The largest paycheck protection program loan in the Tri-Lakes region went to St. Joseph Addiction Treatment and Recovery Centers, based in Saranac Lake, but also located in Tupper Lake, Malone, Massena, Elizabethtown, Ticonderoga and Keeseville. He received a subsidy in the range of $ 2 million to $ 5 million, which would have kept 239 jobs.

The US Small Business Administration has released data on P3 loans over $ 150,000. In the Tri-Lakes region, several dozen small businesses and nonprofits – those with fewer than 500 employees each – have received millions in loans to continue paying employees as the COVID-19 shutdown has an impact on their income. These include health services, construction companies, and many hotels.

These larger PPP loans would have kept an estimated total of 2,349 jobs in the Tri-Lakes region during the coronavirus pandemic, according to the SBA.

The SBA list did not give specific dollar amounts but rather gave ranges. He also listed the lender of each loan.

PPP loans “Will be fully forgiven if the funds are used for salary costs, mortgage interest, rent and utilities” according to the SBA. For this forgiveness, the loan must be spent within 24 weeks (just over five months) of issuance, and at least 60% of the forgiven amount must have been used for payroll. Otherwise, PPP loans have an interest of 1% and a maturity of two years if issued before June 5 and five if received after that date. Payments are deferred for the first six months.

The US Treasury Department website published data on PPP loans, but the New York newspapers of the USA Today Network compiled it into a searchable database at paycheck-protection-program-loans.

Lake placid

Companies that have received loans of $ 1 million to $ 2 million in this village include: 85 Old Military Road Operating Company (Elderwood of Uihlein), Lake Placid Vacation Corp. (the Lussi family, who own and operate the Crowne Plaza Resort and the Lake Placid Club golf courses), Mountain Lake Children’s Residence, The Cottage Corp. (associated with the Mirror Lake Inn) and Uh-WL Operating Tenant (Whiteface Lodge).

AWH Lake Placid Hotel (High Peaks Resort), Ger Am Properties (Golden Arrow), Lake Placid Advertiser’s Workshop (which does business as Atelier), North Country School and Northwood School each received loans in the order of $ 350,000 to $ 1 million.

Barlow Advertising, Big Slide Brewery, GBD Lake Placid (Courtyard Marriott hotel), Great Adirondack Steak and Seafood, Lake Placid Sports Medicine, Mirror Lake Inn, Mishanec Family Industries (Lisa G’s), Mountain Medical, Lake Placid Pub and Brewery, Whiteface Club and Resort, and the US Luge Association each received a loan between $ 150,000 and $ 350,000.

In total, data shows that these loans have retained 1,304 jobs in Lake Placid.

Saranac Lake

While St. Joseph’s secured the largest P3 loan in that village, North Country Home Services of Saranac Lake followed with a loan of $ 1 million to $ 2 million, retaining 163 jobs.

Bionique Testing Laboratories, Cascade Builders, PJ Hyde and Sons (Hyde Fuel) and the Trudeau Institute each obtained a loan between $ 350,000 and $ 1 million.

Adirondack Internal Medicine and Pediatrics, Fogarty’s Lake Flower Marina, Hari Krusna Inc. (Best Western Hotel), High Peaks Distributing, Mountain Medical Services, Nori’s Village Market, Tissot Construction, Trudeau Sand and Gravel and Upstate Auto each secured loans of 150 $ 000 each. and $ 350,000.

In total, the data shows that these loans have retained 845 jobs in Saranac Lake.

Tupper Lake

The Wild Center and Paul Mitchell Logging were the loan recipients in Tupper Lake, each receiving between $ 350,000 and $ 1 million, retaining 40 and 28 jobs, respectively.

Adirondack Classic Designs (house building), Adirondack Leasing MJH Corp., Day Wholesale, Richards Logging, Shaheen’s Market and Tupper Lake Hardwoods each received a loan between $ 150,000 and $ 350,000.

Data shows that thanks to these loans, Tupper Lake has retained a total of 200 jobs.

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