Up to $70 MIllion in PPP Loans Helped 322 Saline Businesses Retain 4,247 Jobs
The Department of Treasury and Small Business Administration released information about the 4.9 million paycheck protection loans issued to help businesses navigate the COVID-19 pandemic. In all, there were more than $521 billion in loans - and much of that amount will be forgiven.
According to documents made public on the SBA's website, 322 businesses in Saline's 48176 zip code were granted PPP loans.
They were grouped in two categories: Over $150,000 and under $150,000. For reasons unclear, the SBA and Treasury revealed the amount of the lower loans down to the last penny but grouped the bigger loans in categories. SBA and Treasury also revealed the recipients of the larger loans.1,525
In the "Under $150,000" category, there were 276 loans for a total of $10,542,479.36, averaging $38,197.39 per loan. Those loans were taken to retain 1,524 jobs.
The vague information about the greater loans makes them harder to assess. There were 46 loans granted:
- 24 loans for $150,000 to $350,000
- 13 loans for $350,000 to $1 million.
- Four loans for $1-2 million.
- Four loans for $2-5 million.
- 1 loan for $5-10 million.
In all there were 46 loans for $25.1-59.4 million. These loans were taken to retain 2,723 loans.
Here's a listing of the loans in the highest categories.
LoanRange | BusinessName | JobsRetained | Lender |
a $5-10 million | DOUGLAS CORPORATION OF MICHIGAN | 14 | City National Bank |
b $2-5 million | EVANGELICAL HOMES OF MICHIGAN | 431 | Bank of Ann Arbor |
b $2-5 million | MMI ENGINEERED SOLUTIONS, INC | 187 | Bank of Ann Arbor |
b $2-5 million | PRODUCTION SERVICES MANAGEMENT, INC | 219 | U.S. Bank, National Association |
c $1-2 million | MCNAUGHTON AND GUNN, INC. | 147 | Comerica Bank |
c $1-2 million | SALINE LECTRONICS, INC. | 202 | Comerica Bank |
c $1-2 million | SENSORS, INC | 63 | Bank of Ann Arbor |
c $1-2 million | TRI-COUNTY ELECTRIC COMPANY OF WASHTENAW COUNTY | 62 | Chelsea State Bank |
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- Mother and Grandmother Robin Willits, Known for Creativity and Humor, Worked at McNaughton and Gunn Robin Juliana Willits was unexpectedly called home to Heaven on March 24, 2024 at the age of 59.
- Barbara Roether, Devoted Wife, Mother and Grandmother, Believed in Family Above All Barbara Sharon Roether, age 78, of Saline, passed away on Monday, March 27, 2024.