- July 23, 2021
- Posted by: Stratford Team
- Category: Business
SAGINAW, MI – The federal Paycheck Protection Program, instituted in 2020 to help keep small businesses afloat during the COVID-19 pandemic, has paid out more than $24 billion to Michigan across roughly 300,000 loans.
Just under $414 million of that came to Saginaw County through 5,699 loans, 558 of which were worth $150,000 or more and 5,131 of which clocked in at less than $60,000, according to federal data obtained by MLive. The program started providing funds weeks after the beginning of the pandemic and had a second round of funding in 2021.
Morley Companies Inc., the business services company and Saginaw County’s third-largest employer according to Saginaw Future, received by far the most assistance and was the only entity to receive the maximum first-round loan amount of $10 million. With the exception of Duro-Last, which received almost $9 million, no other companies topped $6 million, and outside of the top four no other companies received…
