See Which Dundalk Businesses Received PPP Loans

Baltimore MD

08 July, 2020

4:22 PM

Description

DUNDALK, MD — Businesses affected by the coronavirus pandemic were able to apply for federal relief through the U.S. Small Business Administration and U.S. Treasury's Paycheck Protection Program (PPP). In Dundalk, there were numerous businesses receiving amounts reaching in the millions. The Small Business Administration has released loan-level data for loan recipients of $150,000 or above, including business names, addresses, ZIP codes, business type, demographic data, non-profit information, name of lender, jobs supported and loan amounts. The same data was also released for loan recipients totaling less than $150,000, except for business names and addresses. PPP loans were established as part of the federal government's CARES Act and are similar to grants. The loans have an interest rate of 1 percent and can be fully forgiven if used for payroll costs, interest on mortgages, rent and utilities. Businesses with loan amounts between $150,000 and $10 million account for nearly 75 percent of approved loan dollars, according to the Small Business Administration. Here are the businesses in Dundalk that earned PPP loans totaling more than $1 million, based on data released by the Small Business Administration. Here are the businesses in that earned PPP loans over $1 million, based on data released by the Small Business Administration. $2 million to $5 million loan GEORGE R NORRIS INC$1 million to $2 million loan MCCALL HANDLING COTHOMPSON AUTOMOTIVE OF DUNDALK, INC.TITAN INDUSTRIAL SERVICES, INC$350,000 to $1 million loan ATC CORP.COSTAS INN INCDRUG CITY PHARMACY, LLCF.A. TAYLOR & SON, INC.GUARDRAILS,ETC, INCNORTH POINT BUILDERS OF MARYLAND, LLCPOWER FACTORPRICELESS INDUSTRIES INC