Wisconsin received almost $10 billion from federal PPP
GREEN BAY, Wis. (WBAY) - The U.S. Treasury Department released data on companies that received loans from the Paycheck Protection Program through June 30.
By the end of June, Wisconsin businesses received about $9.9 billion in loans through the program out of about $521 billion total nationwide. For comparison, $22.5 billion went to businesses in Illinois, $16 billion to businesses in Michigan $11.2 billion to businesses in Minnesota, and $5.1 billion to businesses in Iowa.
The Treasury only named businesses that received at least $150,000 -- about 15% of all the businesses that received loans (CLICK HERE for the Treasury report).
In Wisconsin, 12,355 businesses received more than $150,000 in PPP funds. There are another 146,208 that received up to $150,000.
The report shows 2,033 businesses in the Green Bay area received up to $150,000. There were 505 more that received $150,000 or more, including four receiving $5 million to $10 million: Interior Installation, Little Rapids, Sanimax and Verhalen (more about this, below).
Appleton had 1,551 businesses that received less than $150,000, and there were 302 businesses identified receiving $150,000 or more. Three of those received $5 million to $10 million: Air Wisconsin, August Winter & Sons and Totalmed Inc. There were 1,551 businesses that received less than $150,000.
In Oshkosh, 775 businesses received less than $150,000 and another 163 that received $150,000 or more. None received $5 million or more.
In Fond du Lac, 546 businesses received less than $150,000 and another 134 received $150,000 or more. None received $5 million or more.
A survey for the Greater Green Bay Area Chamber of Commerce shows 70 percent of Green Bay-area businesses applied for money from the Paycheck Protection Program and nearly 90% of those applicants received money. More than three-quarters of them expect to have their loans forgiven for following the PPP’s rule to use most of the money to keep workers paid.
Conversely, 84% of businesses said they did not apply for a U.S. Small Business Association Economic Injury Disaster Loan. Eighty percent of those that did apply were rejected.
More than a quarter of Green Bay-area businesses surveyed said they had to furlough or lay off employees. Nearly a quarter had to change business hours, and about 64 percent have more workers telecommuting.
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