Public companies across industries have continued to apply for and receive PPP Loans, often for millions of dollars, in order to help them stay afloat during the Coronavirus Crisis. We’ve analyzed this loans to see which industries are benefiting most from the CARES program.
Takeaways
- Over 400 public companies received PPP loans, averaging close to $3M each
- Consumer Discretionary, Healthcare, and Industrials sectors each received about 20% of total loan value
- Healthcare totaled 31% of loan volume and 22% of loan value
- Of the 17 companies receiving the maximum $10 million, 7 were in the Consumer Discretionary industry
AlphaSense’s AI technology picks up on nuances in human language found in SEC filings, PR announcements and thousands of other documents in real-time across the entire market, by industry, or watchlist. Start your free trial of AlphaSense now or login to your account.
Consumer Discretionary companies have received the highest percentage in total dollars issued to public companies through the PPP program with Healthcare and Information Technology coming in 2nd and 3rd.
The largest percentage of loans have been issued to Healthcare companies, while Real Estate only represents .9% of loan volume compared to over 4% of loan $ value.
Average Loan $ Value Per Sector
| Sector | Average |
| Communication Services | $2,856,659 |
| Consumer Discretionary | $4,661,296 |
| Consumer Staples | $1,220,162 |
| Energy | $3,404,895 |
| Healthcare | $2,031,225 |
| Industrials | $2,834,827 |
| Information Technology | $2,264,156 |
| Materials | $2,567,405 |
| Real Estate | $12,877,287 |
| Utilities | $698,800 |
| Grand Total | $2,774,214 |
While two REITS are skewing the average in the Real Estate sector to $12.9M, Consumer Discretionary and Energy companies are averaging higher than the $2.8M norm at $4.7M and $3.4M in PPP loans respectively.
Top 50 Loans by $ Value
| Company | GICs | Amount |
| Ashford Hospitality Trust, Inc. | Real Estate | $30,100,000 |
| Ruth’s Hospitality Group, Inc | Consumer Discretionary | $20,000,000 |
| Staffing 360 Solutions | Industrials | $19,400,000 |
| The One Group Hospitality Inc | Consumer Discretionary | $18,300,000 |
| Braemar Hotels & Resorts Inc | Real Estate | $15,798,980 |
| Ark Restaurants Corp | Consumer Discretionary | $14,900,000 |
| Onewater Marine Inc | Consumer Discretionary | $14,100,000 |
| Energy Services of America Corporation | Energy | $13,139,100 |
| Flanigan’s Entperprises | Consumer Discretionary | $13,100,000 |
| Good Times Restaurants Inc | Consumer Discretionary | $11,600,000 |
| Sotherly Hotels | Consumer Discretionary | $10,700,000 |
| Potbelly Corp | Consumer Discretionary | $10,000,000 |
| Fiesta Restaurant Group, Inc. | Consumer Discretionary | $10,000,000 |
| Hallador Energy | Energy | $10,000,000 |
| Quantum Corporation | Information Technology | $10,000,000 |
| J. Alexanders, LLC | Consumer Discretionary | $10,000,000 |
| Shake Shack | Consumer Discretionary | $10,000,000 |
| MIMEDX GROUP, INC. | Healthcare | $10,000,000 |
| CalAmp Corp | Information Technology | $10,000,000 |
| Universal Stainless Reports | Materials | $10,000,000 |
| UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC. | Materials | $10,000,000 |
| Stein Mart Inc | Consumer Discretionary | $10,000,000 |
| Christopher & Banks | Consumer Discretionary | $10,000,000 |
| IDT Domestic Telecom, Inc | Communication Services | $10,000,000 |
| Luby’s Inc | Consumer Discretionary | $10,000,000 |
| A.M. Castle & Co | Industrials | $10,000,000 |
| Harte-Hanks | Communication Services | $10,000,000 |
| Freightcar America Inc | Industrials | $10,000,000 |
| Pennant Group Inc | Healthcare | $9,900,000 |
| Endologix Inc | Healthcare | $9,800,000 |
| Broadwind Energy, Inc | Industrials | $9,500,000 |
| Zagg Inc | Consumer Discretionary | $9,443,728 |
| ASURE SOFTWARE, INC. | Information Technology | $8,855,605 |
| Horizon Global Company LLC | Consumer Discretionary | $8,700,000 |
| Ramaco Resources, Inc. | Materials | $8,444,737 |
| W&T Offshore | Energy | $8,400,000 |
| Air T, Inc | Industrials | $8,215,100 |
| Twin Disc, Incorporated | Industrials | $8,199,500 |
| FutureFuel Corp | Materials | $8,180,000 |
| Axogen, Inc. | Healthcare | $7,800,000 |
| OrbComm | Communication Services | $7,588,107 |
| Wave Life Sciences USA, Inc | Healthcare | $7,234,890 |
| Leaf Group Ltd | Consumer Discretionary | $7,100,000 |
| Cutera Inc | Healthcare | $7,100,000 |
| New Age Beverages Corporation | Consumer Discretionary | $6,868,400 |
| Lazydays Holdings Inc | Consumer Discretionary | $6,831,250 |
| SAExploration Holdings Inc | Energy | $6,800,000 |
| Rignet Inc | Energy | $6,800,000 |
| DMC Global | Energy | $6,700,000 |
| Sientra Inc | Healthcare | $6,700,000 |
Ten firms that applied for funds across different subsidiaries were granted multiple loans totaling more than the $10M PPP loan cap.
AlphaSense is a market intelligence platform used by the world’s leading companies and financial institutions. Since 2011, our AI-based technology has helped professionals make smarter business decisions by delivering insights from an extensive universe of public and private content—including company filings, event transcripts, news, trade journals, expert calls, broker reports, and equity research. Our platform is trusted by over 2,000 enterprise customers, including a majority of the S&P 100. Headquartered in New York City, AlphaSense employs over 1,000 people across offices in the U.S., U.K., Finland, Germany, and India.
Read all posts written by AlphaSense
