Restaurants, lawyers, physicians, dentists and real estate agents were among the top recipients of Paycheck Protection Program loans in Connecticut, according to data released Monday by the U.S. Small Business Administration and Treasury Department.
According to the North American Industry Classification System (NAICS) code for each loan, nearly 2,500 full-service restaurants and more than 1,000 limited-service restaurants received funding through the PPP.
About 18 percent of the full-service restaurants received loans over $150,000. Peoples United Bank, which processed the most PPP loans in Connecticut, was the top lender to full-service restaurants.
Almost all of the nearly 1,200 loans for Connecticut real estate agent and broker offices were for less than $150,000. Of 29 offices with loans over $150,000, 62 percent received between $150,000 and $350,000. Another 21 percent received between $350,000 and $1 million.
Loans for 20 real estate offices were between $100,000 and $150,000. Another 54 received exactly $20,800, the maximum allowed for independent contractors under the PPP rules.
About 18 percent of the loans for real estate offices were made by People’s United Bank. Webster Bank and Liberty Bank were the other top lenders to real estate offices.
Connecticut lawyers accounted for more than 1,900 loans, while physicians received about 1,230 and dentists about 1,170. About 1,000 different industry codes were used in Connecticut.





