These Melrose Businesses Got PPP Loans Over $150K

Melrose MA

07 July, 2020

7:58 AM

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MELROSE, MA — Forty businesses and non-profits in Melrose received loans of $150,000 or more from the Paycheck Protection Program, or PPP, helping retain more than 900 jobs. The U.S. Small Business Administration on Monday released the names of every company that received loans under the coronavirus stimulus package. PPP loans were established as part of the federal government's CARES act, and are similar to grants: they will be forgiven as long as businesses keep its employees on their payroll, without cutting their pay. However, the money does not necessarily have to go directly to employees as long as the business keeps paying them, it can also be used to pay interest on mortgages, rent, and utilities. On Monday, the government released data showing that nearly 5 million businesses have received PPP loans totaling over $521,000,000,000. The U.S. Treasury says that money has supported 51.1 million jobs, as much as 84 percent of America's small business employees. Below are the 40 businesses listed under Melrose receiving at least $150,000 worth of PPP loans, along with the number of jobs they retained (or no number, if it was left blank.) Loan between $1-2 million D&R General Contracting, Inc. Loans between $350,000-$1 million Fotronic Corporation (46)Globe Cap LLC (57)Melrose Glass Co., Inc. Priority Capital Partners, Inc (31)Stephen's Auto Body And Towing, Inc. (37)Turners Seafood Grill And Market, Inc. (0)W.B. Hunt Co., Inc. (89)Wjm Home Care, LLC (92) Loans between $150,000-$350,000 Anchovies Acquisition LLC (24)Bananaland, Inc. (37)Barre & Soul, LlcBeacon Hill Funding, Inc. (14)Churchill Corporation (24)Commonwealth Medical Group Inc. (14)Construction Specialties Unlimited Inc. (21)Grays Appliance Inc (23)Harvest Properties LLC Integrated Pharmacy Solutions, Inc. (23)John E Mclaughlin Agency, Lp (19)Jrmm, Inc (40)M Stanley Metz & Co IncMass Golf Management Llc (0)Massachusetts Medical & Physical Therapy (16)Melrose Animal Clinic, P.C. (0)Melrose Family Dentistry Llc. (17)Melrose Internal Medicine Associates, P.C. (18)Melrose Liberty Bell Inc. (30)Melrose-Wakefield Oral Surgery Inc. (13)Mex-Fajitas Inc (25)Phineas Sprague'S Publick House Inc. (0)Promax Supply Llc (23)Rhonda S. Fogle Md Pc (9)Saint Mary Of The Annunciation School (22)Seven Mile Road Church (11)Solomon & Wright Associates P C (18)Teachable Moments Childhood Program Ii Inc (30)Tenreiro Llc (40)The Fitch Home, Inc. (32)Winchester Testing Laboratory Inc (10) Here is a complete list of all Massachusetts businesses who have received PPP loans over $150,000. Tens of thousands more businesses received loans under $150,000. Learn more about PPP loans at the SBA's website here.