48 Aurora Businesses Secure Million-Dollar Coronavirus Loans

AURORA, IL — Nearly 300 Aurora businesses received federal coronavirus-relief loans of at least $150,000, including two dozen loans worth at least $1 million, according to data from the U.S. Small Business Administration.

More than 1,500 other businesses in the city received forgivable loans worth less than $150,000 from the Paycheck Protection Program, which was created to support businesses amid the coronavirus pandemic.

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The SBA’s data includes ranges for the amount of each loan over $150,000. In total, Aurora businesses that received a loan worth at least $150,000 split between $134.7 million and $324 million in PPP loans.

The Small Business Administration released a list of 4.9 million businesses that received PPP loans after facing lawsuits from media organizations. Some Aurora businesses began receiving loans as early as April 3.

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"The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country," U.S. Treasure Secretary Steven T. Mnuchin said in the release.

The average loan size is approximately $100,000, according to Mnuchin, "demonstrating that the program is serving the smallest of businesses."

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Of the 298 Aurora businesses that received PPP loans of at least $150,000, 247 are corporations or subchapter S corporations, a business setup that offers the benefits of incorporation without some of the tax burden, according to Investopedia. These 247 businesses employ more than 11,000 people, federal data shows.

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The 1,873 Aurora businesses that received PPP loans from the federal government employ more than 25,000 people, according to the data.

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Forty-one North Aurora businesses also received loans worth more than $150,000, including Oberweis Dairy, which is chaired by millionaire state senator and congressional candidate Jim Oberweis.

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Oberweis Dairy was one of 255 businesses in Illinois to receive a loan between $5 million and $10 million, the largest available under the Paycheck Protection Program. More than 202,000 businesses in the state have received PPP loans, the data shows.

If PPP loans are used as intended — to cover payroll costs, health care benefits, rent/mortgage payments, utilities or interest — the federal government will forgive the loans. If the funds are misused, however, the Small Business Administration will force businesses to repay the portion of funds they misused. No company can receive more than one PPP loan.

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Below is a list of Aurora and North Aurora businesses that received at least $1 million in loans.

Aurora/North Aurora businesses receiving $1 million to $2 million loans:
Weldstar Company
The Most Group Inc.
Louis C. Cordogan Inc.
Connor-Winfield Corp.
Grand Dental Associates, P.C.
Tee Jay Service Company
Anesthesia Associates, Ltd.
Westell, Inc.
Waubonsee Development Company
Gerald Nissan of North Aurora, Inc.
McNish Corporation
Thoughtwave Software and Solutions Inc.
Progressive Carriers Co.
Gripple Inc.
Pro Staffing, Inc.
AmeriSafe Consulting and Safety Services LLC
Processing Technologies International LLC
Tri Star Metals LLC
Control Solutions LLC
Nutrivo LLC
Symphony Countryside LLC
Marmion
J/B Industries Inc.
ILLCO Inc.
WM F. Meyer Co.
Electrical Design Systems Corp.
Quality Logo Products Inc.
Napleton’s Aurora Imports Inc.
Chronos Imaging LLC
National Metalwares LP

Aurora/North Aurora businesses receiving $2 million to $5 million loans:
CNC Logistics Inc.
Olsson Roofing Company
Kane County Personnel Inc.
Unilock Chicago Inc.
First Centennial Mortgage Corporation
ATMI Precast Inc.
Peerless Industries Inc.
Aurora Packing Company Inc.
Abbey Paving & Sealcoating Co.
American Cable & Telephone LLC
Signature Retail Services Inc.
State Mechanical Services LLC
Luse Thermal Technologies LLC
Bernina of America LLC
VNA Health Care
Association for Individual Development
Geneva Construction Co.
RWI Holdings Inc.
Alarm Detection Systems Inc.

Aurora/North Aurora businesses receiving $5 million to $10 million loans:
Engineering Systems Inc.
Andy Frain Services Inc.
Oberweis Dairy Inc.
Magnetrol International Holding Co.