Foxborough Companies Received $43.4M In Federal Coronavirus Loans

Foxborough MA

04 December, 2020

12:05 PM

Description

FOXBOROUGH, MA — Companies and nonprofits in Foxborough received about $43.4 million in loan approvals under the federal Paycheck Protection Program, according to data released Tuesday by the Small Business Administration. The loans went to 397 companies and ranged from $872 to $2 million. Applicants said the loans would help them protect 3,516 jobs in Foxborough. The data released this week includes all loans under the program passed in March as the coronavirus pandemic took hold and forced widespread business closures and layoffs. SBA released some loan data in July, but that data only showed loans over $150,000 and did not include specific dollar amounts. The Washington Post, Bloomberg and other media companies sued the SBA to release the full data set. In November, a federal judge ruled in favor of the media companies and ordered the SBA to release the data by Dec. 1. The data released Tuesday was current as of Nov. 24 and includes updates to the data released in July. Previously on Patch: These Foxborough Businesses Got PPP Loans Over $150,000 PPP loans are part of the CARES Act, a comprehensive COVID-19 relief package Congress passed in the spring. The loans are forgivable as long as a certain percentage is used for payroll. The program stopped taking new applications in August, but business groups are pressuring federal lawmakers and the Trump administration to renew the program. In Foxborough, the top loans went to: $2,021,445.00 - INDUSTRIAL DEFENDER INC$1,933,940.00 -MASS MOVEMENT, INC.$1,502,145.00 - ACCUTECH PACKAGING INC$1,380,000.00 - RODMAN FORD SALES INC$1,213,555.00 - ENGINEERING & DESIGN STAFFING, INC.$1,127,400.00 - TREE TECHNOLOGY & LANDSCAPE CO., INC.$1,089,970.00 - CONNECTPAY LLC$960,855.00 - TB12, INC.$918,200.00 - VERDOLINO AND LOWEY, P.C.$608,042.00 - TECHNICAL SUPPORT INTERNATIONAL INC$583,100.00 - ONE PATRIOT PLACE, LLC$574,600.00 - PEDIATRIC SPECIALISTS OF FOXBORO AND WRENTHAM$568,660.00 - MORRIS MERCHANTS INC$567,400.00 - CASEY ENGINEERED MAINTENANCE, INC$ 550,750.00 - BLUEPORT, INC. Statewide, there were nearly 118,000 loans totaling $14.27 billion. In their loan applications, the companies that received the loans said they would help protect 1.17 million jobs in Massachusetts.