North Andover Companies Got $91 Million In Federal PPP Loans

Christopher Huffaker
·2 min read

NORTH ANDOVER, MA — Companies in North Andover received $91 million in loan approvals under the federal Paycheck Protection Program, according to data released Tuesday by the Small Business Administration.

The loans went to 729 companies and ranged from just $667 to nearly $5 million. Applicants said the loans would help them protect 6469 jobs in North Andover.

Neighboring Andover got even more, with $126 million going to 723 businesses.

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 North Andover Businesses Got PPP Loans Over $150K

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 North Andover, the loans went to:

  • F. H. Cann and Associates, a debt collection agency. Received the town's biggest loan: $4.904 million.

  • Bake'n Joy Foods, which makes baking mixes and doughs. Received a $3.2 million loan.

  • United Plastic Fabricating, a plastic fabricator. Received a $2.8 million loan.

  • Edgewood Retirement Community. Received a $1.8 million loan, which they said would protect 315 jobs, the most of any North Andover loan.

  • Proscape NA, a trucking company. Received a $667 loan.

  • Hundreds more.

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.

Christopher Huffaker can be reached at 412-265-8353 or chris.huffaker@patch.com.

This article originally appeared on the North Andover Patch