SAGINAV, Michigan – The federal payroll protection program, established in 2020 to help small businesses stay afloat during the COVID-19 pandemic, has paid Michigan over $ 24 billion in roughly 300,000 loans.
According to federal data obtained by MLive, just under $ 414 million of that amount went to Saginaw County in 5,699 loans, 558 of which were for $ 150,000 or more and 5,131 of which were received for less than $ 60,000. … The program began disbursing funds a few weeks after the start of the pandemic and had a second round of funding in 2021.
Morley Companies Inc., a business services company and Saginaw County office. third largest employer received the most assistance and was the only organization to receive the maximum loan amount in the first round of $ 10 million, according to Saginaw Future. With the exception of Duro-Lastwhich received nearly $ 9 million, no other company exceeded $ 6 million, and apart from the four largest companies, no other company received more than $ 5 million in loans from the program.
Top 10 PPP Loans in Saginaw District
- Morley Companies Inc. received $ 10,000,000.
- Duro-Last Inc., a national roofing company headquartered in Saginaw, received $ 8,930,292.
- Merrill Fabricators Inc., which employs 405 people. according to Saginaw Future, received 5,886,000 US dollars.
- Saginaw Cooperative Hospitals Inc., or CMU Medical Education Partners, received 5,049,500 dollars.
- Hausbeck Brothers, Inc., based in Reese, received $ 4,939,500.
- Limited Liability Partnership Stone Transport, a transport and logistics company based in the Charter Town of Buena Vista, received $ 4,306,538.
- Spicer Group, Inc., a land surveyor, which employs 270 people, received $ 3,546,200.
- Star of West Milling Co.., based in Frankenmouth, received $ 3,538,300.
- Yeo and yeo, a business consulting firm, received $ 3,366,600.
- Zehnder’s from Frankenmouth, Inc. received $ 3,264,100.
Total affiliated with Zehnder family, whose members own and operate many of Frankenmouth’s most popular travel destinations, received a total of $ 12,658,797 million through six loans.
- Zehnder’s from Frankenmouth received an additional $ 2,000,000.
- Frankenmuth Bavarian Inn, Inc. received US $ 2,000,000 and US $ 1,679,200.
- Frankenmuth Bavarian Inn Motor Lodge, Inc. received US $ 2,000,000 and US $ 1,715,497.
For a complete list of Saginaw County loans, see the table below and search for them.
MLive data reporter Scott Levin prepared the coverage for this article.