NASCAR teams, groups approved for millions in federal COVID-19 loans

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Several NASCAR teams and related organizations were approved for between $150,000 and $10 million in loans under the Paycheck Protection Program (PPE), according to data provided Monday.

The U.S. Small Business Administration posted a list of PPP loan data on the U.S. Department of the Treasury website. The Paycheck Protection Program was included in the Coronavirus Aid Relief and Economic Security (CARES) Act that was established to help businesses weather the financial stress of the novel coronavirus (COVID-19) pandemic.

Among the many NASCAR teams, racetracks and related organizations (with data including the range of the loan and the number of jobs retained):

* Richard Childress Racing ($5-$10 million, 334 jobs)

* Chip Ganassi Racing with Felix Sabates ($2-5 million, 179 jobs)

* Roush Fenway Racing ($2-5 million, 179 jobs)

* Roush & Yates Racing Engines ($2-5 million, 192 jobs)

* JTG Daugherty Racing ($1-2 million, 88 jobs)

* GMS Racing ($1-$2 million, 89 jobs)

* Kyle Busch Motorsports ($1-$2 million, 71 jobs)

* JR Motorsports ($1-$2 million, 88 jobs)

* Germain Racing ($350,000-$1 million, 41 jobs)

* Richard Petty Motorsports ($350,000-$1 million, 43 jobs)

* Dale Earnhardt Inc. ($350,000-$1 million, 55 jobs)

* DGR-Crosley ($350,000-$1 million, 67 jobs)

* Premium Motorsports ($350,000-$1 million, 46 jobs)

* Pocono International Raceway ($350,000-$1 million, 142 jobs)

* Hattori Racing ($150,000-$350,000, 16 jobs)

* Jimmie Johnson Racing ($150,00-$350,000, 8 jobs)

* Motor Racing Outreach ($150,000-$350,000, 9 jobs)

* Rev Racing ($150,000-$350,000, 12 jobs)

* Starcom Racing ($150,000-$350,000, 20 jobs)

* Kaulig Racing ($350,000-$1 million, 36 jobs)

* Mesa Marin Raceway ($150,000-$350,000, 16 jobs)

* Bill McAnally Racing ($150,000-$350,000, 19 jobs)

* Young’s Motorsports ($150,000-$350,000, 0 jobs)

* JD Motorsports ($150,000-$350,000, 0 jobs)

In a statement accompanying the data, the SBA said the data was for businesses that were approved for PPP loans but “does not reflect a determination by SBA that the borrower is eligible for a PPP loan or entitled to loan forgiveness. All PPP loans are subject to SBA review, and all loans over $2 million will automatically be reviewed.”

Contributing: Nate Ryan

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