Other Financial Investment Activities

Businesses and organizations in the Other Financial Investment Activities industry (NAICS code 5239, part of the Finance and Insurance sector) received 60,457 PPP loans totaling $3.17B during the COVID-19 pandemic.

The average loan for this industry was $52,415 — 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.

95.2% of loans in this industry were forgiven — totaling $2.98B. 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 BEARCOM GROUP, INC. of GARLAND, TX ($10,000,000); RUSSELL TOBIN AND ASSOCIATES LLC of NEW YORK, NY ($10,000,000); and RMH FRANCHISE CORPORATION of ATLANTA, GA ($10,000,000).

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 Finance and Insurance sector — banking, credit, securities, insurance, and related financial activities. — businesses in NAICS 5239 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.