Buffalo Grove Businesses Receive Millions In Small Business Loans

Buffalo Grove IL

07 July, 2020

10:53 AM

Description

BUFFALO GROVE, IL — The U.S. Small Business Administration released a list of businesses — including many in Buffalo Grove — approved for federal payroll protection loans under the Paycheck Protection Program. This disclosure covers each of the 4.9 million PPP loans that have been made since April, according to a press release. The program was set up to assist businesses in moving forward during the coronavirus pandemic. "The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country," Treasure Secretary Steven T. Mnuchin said in the release. The average loan size is approximately $100,000, according to Mnuchin, "demonstrating that the program is serving the smallest of businesses." Illinois Coronavirus Update July 6 — Don't miss updates about Illinois' response to COVID-19 — Sign up for Patch news alerts and newsletters. The release includes loan-level data, including business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender, jobs supported, and loan amount ranges. Some Buffalo Grove businesses began receiving loans as early as April 4. After initially refusing to disclose the recipients of the federal relief, the agencies relented following lawsuits from media organizations and provided the names of all businesses that borrowed more than $150,000, accounting for about three quarters of the money distributed. Below is a list of Buffalo Grove businesses that received at least $1 million in loans. The complete list of all loans received by local businesses can be found here. BUFFALO GROVE BUSINESSES RECEIVING $5-10 MILLION LOAN RANGE Ceannate Corp — 234 jobs retainedBUFFALO GROVE BUSINESSES RECEIVING $2-5 MILLION LOAN RANGE ACP Creativit — 199 jobs retainedArxium Incorporated — No dataBourbon Tile & Marble, Inc. — 100 jobs retainedCrosscom National LLC — 249 jobs retainedGlobal Material Technologies, Inc. — 185 jobs retained International Services, Inc. — 247 jobs retainedKopka Pinkus Dolin & Eads PC — 262 jobs retainedProduce Alliance, LLC — 131 jobs retainedSurgical Referral Service, LTD — 259 jobs retainedTherm Flo, Inc. — No dataBUFFALO GROVE BUSINESSES RECEIVING $1-2 MILLION LOAN RANGE Banner Plumbing Supply Company, LLC — 86 jobs retainedBelmont Trading Co Inc. — 170 jobs retainedBuffalo Group LLC — 91 jobs retainedBurgess Computer Decisions Inc — 79 jobs retainedHelpsource of North Shore Inc — 480 jobs retainedIllinois Masonry Corporation — 9 jobs retainedIndeck Energy Services, Inc. — 79 jobs retainedIndeck O&M LLC — 52 jobs retainedLAB Development, LLC — 124 jobs retainedMNJ Technologies Direct, Inc — 110 jobs retainedNative Foods Acquisition, LLC — No dataNew Age Elder Care Inc — 498 jobs retainedPrimehealth Group, LLC — 86 jobs retainedSchultes Precision MGF Inc — No dataSMS-NA, LLC — 112 jobs retainedSymphony Buffalo Grove LLC — 189 jobs retainedWes-Tech Automation Solutions, LLC — 56 jobs retainedStay Patched In! Get Patch real-time email alerts for the latest Buffalo Grove newsCheck out the Events Calendar for what's going on in Buffalo GroveLike our Crime page on FacebookLike the Buffalo Grove Patch on FacebookPatch Mobile: Get app for iPhone and Android