Grocery and Convenience Retailers

Businesses and organizations in the Grocery and Convenience Retailers industry (NAICS code 4451, part of the Retail Trade sector) received 55,179 PPP loans totaling $3.12B during the COVID-19 pandemic.

The average loan for this industry was $56,462 — below the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

94.8% of loans in this industry were forgiven — totaling $3.05B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include HAC, INC of OKLAHOMA CITY, OK ($10,000,000); RPCS INC of ROGERSVILLE, MO ($8,673,400); and NUMERO UNO ACQUISITIONS, LLC of LOS ANGELES, CA ($7,482,826).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Retail Trade sector — selling merchandise to the general public for personal or household consumption. — businesses in NAICS 4451 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.