Companies in one Michigan County received $ 4.5 billion in PPPs – 1,600 times more than the other

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Experts agree that the payroll protection program has benefited all of Michigan, but perhaps Oakland County and the manufacturing industry have benefited the most.

The federal program has provided Michigan small businesses with $ 24 billion in over 300,000 non-repayable loans. There were two rounds of PPP funding, so some places received two loans each.

“It has been a lifeline for many, many businesses,” said Brian Colley, president of the Michigan Small Business Association. “I really think (it was) the difference between survival and survival for many businesses.”

With the program shut down, MLive dived into the data to find out where the money went in Michigan – geographically and by industry. Here are four takeaways.

Oakland County Businesses Receive Nearly $ 3,600 Per Resident

Businesses in all 83 Michigan counties received PPP money, although some received more than others.

Oakland County businesses received $ 4.5 billion – more than any other Michigan county. That’s 1,600 times the Kevino County businesses at $ 2.7 million.

Although Oakland County is the second largest population of all counties in Michigan, it still generates the most PPP money per capita. For each of Auckland’s 1.2 million residents, county businesses have raised about $ 3,500 in PPP loans.

Ontonagon County had the lowest rate at $ 587 per person.

The map below shows how many counties received PPP money per capita. While the Detroit and Grand Rapids areas fared the best, some of the smaller counties also rank high on the list. The darker the shade, the more money the district received per inhabitant.

(Can’t see the map? Click here.)

Hospitality has suffered the most, but other industries have received more PPP money

The hospitality industry relies on personal communication and discretionary spending – which is why the pandemic has been hit hardest.

There were 435,500 leisure and hospitality jobs in Michigan in February 2020. Two months later, it had fewer than 200,000 jobs, according to federal data… No other major industry in Michigan has lost more than half of its jobs.

However, the biggest loser was not the largest recipient of PPP loans. Manufacturing plants received the most with $ 3.9 billion, construction came in second with $ 2.4 billion, and health / welfare companies received $ 2.3 billion.

The hospitality / food service industry received over 18,000 loans totaling $ 1.6 billion.

The sorted database below shows how much money and how many loans businesses in each industry in Michigan received. This also includes how many jobs were saved due to funding.

Can’t see the table? Click here https://datawrapper.dwcdn.net/GgQl3/11/

The PPP money wiped out any losses from the pandemic for many manufacturing and construction businesses, Kalli said, as most of them returned to work within weeks of closing. Due to the ban on dining and the ban on staying at home, the PPP money did not cover all the losses for most hotel businesses, he said.

Even as of June, hospitality only had 79% of the jobs that were before the pandemic. Manufacturing returned to 92% and construction above 99%.

Division into rural and urban areas

Urban businesses earned the majority of their funds in Michigan, according to data Small Business Administration data.

Businesses in urban areas received about $ 18 million and rural businesses about $ 6 million.

The difference was more pronounced for the larger loans. On loans of more than $ 150,000, urban businesses received $ 3.10 for every dollar received by rural businesses. For loans below $ 150,000, urban businesses received $ 2.57 for every dollar received by rural businesses.

Examples of urban areas include Wayne, Oakland, Macomb, Genesee, Vashteno, Kent, and Kalamazoo counties.

Can’t see the diagram? Click here https://datawrapper.dwcdn.net/2I18W/3/

Which businesses received the money?

PPP allowed eligible companies to raise up to $ 10 million, with 21 Michigan companies receiving the maximum. Others received only $ 28.

Below is a complete sorted list of Michigan businesses that have received PPP money. The first database is for loans of $ 150,000 or more, and the second is for loans of less than $ 150,000.

Can’t see the diagram? Click here https://datawrapper.dwcdn.net/ik31L/1/

Can’t see the diagram? Click here https://datawrapper.dwcdn.net/3DARO/2/

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