Andover Businesses Among Biggest Recipients Of MA PPP Funding

Andover MA

02 December, 2020

4:48 PM

Description

ANDOVER, MA — Andover businesses were among the biggest recipients of federal Paycheck Protection Program loans in Massachusetts, with the town's 01810 zip code receiving the 13th most in the state, according to new data reported by the Boston Business Journal. Businesses in 01810 zip code received over 700 loans worth over $125 million. Downtown Boston led the state with $296 million in PPP loans. Combined, Boston businesses received over $1 billion in PPP loans. The Paycheck Protection Program, part of the CARES Act passed in response to the coronavirus pandemic in March, offered forgivable loans for payroll and other expenses. The Boston Business Journal and other companies sued the federal government for data on every single PPP loan. >>Read more from the Boston Business Journal PPP Loans to 01810 Andover businesses Loan amount - $126,745,927.29 Total number of loans - 731 Outside of Boston, other Massachusetts towns which received large amounts of loans include Burlington, Woburn and Waltham. One Andover business, dairy cooperative Agrimark Inc, received a maximum $10 million loan, Boston Business Journal also reported. Christopher Huffaker can be reached at 412-26-58353 or [email protected].