Westborough Companies Received $100M In Federal Coronavirus Loans

Westborough MA

03 December, 2020

4:08 PM

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WESTBROUGH, MA — Companies in Westborough received $100 million in loan approvals under the federal Paycheck Protection Program, according to data released Tuesday by the Small Business Administration. The loans went to 571 companies and ranged from $595 to $5,415,100. Applicants said the loans would help them protect 7,931 jobs in Westborough. "The PPP loan has been instrumental in allowing us to remain fully staffed and adapt to the new realities we face," said Carla McCall, Managing Partner of AAFCPAs, a recipient of a PPP loan, "In fact, we were able to launch a COVID-19 task force that focused on guiding clients through this period of crisis." 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: Coronavirus Relief Loans In Massachusetts: Where PPP Money Went 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 Westborough, here is where the top loans went: $ 5,415,100: DECK NETWORK, LLC, 82 Flanders Rd$ 4,777,800: NAVIN, HAFFTY, & ASSOCIATES, LLC, 1900 West Park Drive Suite 180$ 4,245,300: E.L. HARVEY & SONS, INC., 68 Hopkinton Rd$ 3,761,200: AAFCPAS, INC., 50 Washington Street$ 3,616,900: UNITED MEDICAL SYSTEMS DE INC, 1700 W Park Dr. 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.