Business & Tech
Wilmington Businesses Among Biggest Recipients Of MA PPP Funding
Businesses in the 01887 zip code got over 500 federal Paycheck Protection Program loans, worth over $100 million.
WILMINGTON, MA — Wilmington businesses were among the biggest recipients of federal Paycheck Protection Program loans in Massachusetts, with the town's 01887 zip code receiving the 16th-most funding, according to new data reported by the Boston Business Journal..
Businesses in 01803 received over 500 loans worth over $110 million. Downtown Boston led the state with $296 million in PPP loans. Combined, Boston businesses received over $1 billion in PPP loans.
The Paycheck Protection Program, part of the CARES Act passed in response to the coronavirus pandemic in March, offered forgivable loans for payroll and other expenses. The Boston Business Journal and other companies sued the federal government for data on every single PPP loan.
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>>Read more from the Boston Business Journal
PPP loans to 01803 Andover businesses
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- Loan amount - $118,867,760.45
- Total number of loans - 557
Outside of Boston, other Massachusetts towns which received large amounts of loans include Andover, Burlington and Woburn.
Christopher Huffaker can be reached at 412-26-58353 or chris.huffaker@patch.com.
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