LANSING – In 14 months, $ 947 million entered Greater Lansing from the Federal Paycheck Protection Program, which aimed to provide relief to businesses during the COVID-19 pandemic.
The federal government, through private lenders, has made loans to 9,482 businesses in Ingham, Eaton and Clinton counties, according to a State Journal analysis of US Small Business Administration data. These loans have preserved 111,631 jobs, according to data from the SBA.
The information in the SBA data was entered by the companies that received the loans and covers the loans issued during the two program cycles.
Here’s how Greater Lansing benefited from the PPP:
- 6,255 Ingham County businesses received $ 665.3 million in loans and preserved 76,885 jobs
- 2,171 Eaton County businesses received $ 194.5 million in loans and preserved 23,908 jobs
- 1,056 Clinton County businesses received $ 87 million in loans and preserved 10,838 jobs
What is PPP?
The program was created in March 2020 during the first months of the COVID-19 pandemic as part of the Coronavirus Aid, Relief, and Economic Security Act. The program was re-authorized and a second round of PPP loans was opened in January 2021.
The PPP was designed to cover salary costs, mortgage or rent payments, utilities or worker protection costs for COVID-19, according to the SBA.
These eligible businesses included small businesses, certain nonprofits, accommodation and food service businesses and sole proprietorships, independent contractors or self-employed workers, according to the SBA.
The PPP ended on May 31, 2021.
Who got the biggest loans?
The top five loan recipients in Ingham, Eaton and Clinton counties received loans totaling $ 63.4 million and saved 4,443 jobs, the data showed.
- Manpower of Lansing, Michigan Inc. in Lansing: $ 9 million, 500 jobs preserved
- Michigan Education Association in East Lansing: $ 6.4 million, 285 jobs preserved
- Michigan Education Special Services Association in East Lansing: $ 6.1 million, 275 jobs preserved
- TechSmith Corp. in Okemos: $ 6 million, 291 jobs preserved
- CentralStar Cooperative in Lansing: $ 5.4 million, 371 jobs preserved
- Eaton Rapids Medical Center: $ 5 million in 2020 and 2021, 250 jobs preserved in 2020 and 282 jobs preserved in 2021
- Air-Way Manufacturing Co. in Olivet: $ 3.9 million, 387 jobs preserved
- Linn Products Inc., in Charlotte: $ 3 million, 306 jobs preserved
- Maner Costerisan & Ellis PC in Lansing: $ 2.7 million, 136 jobs preserved
- ET MacKenzie Co. in Grand Ledge: $ 2.6 million, 171 jobs preserved
- COG Marketers Limited in St. Johns: $ 4.3 million in 2020 and 2021, 126 jobs preserved in 2020 and 130 jobs preserved in 2021
- Quest Solutions in St. Johns: $ 3.4 million, 416 jobs preserved
- Bellefeuil, Szur and Associates in the Township of Bath: $ 2.8 million, 179 jobs preserved
- Michigan Crossroads Council, Boy Scouts of America in Eagle Township: $ 1.4 million, 150 jobs preserved
- Dent Enterprises Inc. in DeWitt: $ 1.3M, 188 jobs preserved
How have companies owned by women belonging to minorities behaved?
The SBA said data on minority or female-owned businesses is limited because many entities that received the loans did not report their status. In Greater Lansing, 80% of loan recipients did not report race and 76% did not report ethnicity, the data showed.
Here are how many diverse businesses have received federal support through the P3:
- 591 owned by Blacks or African Americans
- 125 Hispanic or Latino property
- 116 owned by Asians
- 21 Native Americans or Alaska Natives belonging to
- 3 native Hawaiians or other Pacific Islanders belonging
- 76 Blacks or African Americans belonging
- 30 Hispanics or Latinos belonging
- 22 owned by Asians
- 12 Native Americans or Alaska Natives belonging
- 11 Hispanic or Latino property
- 10 Black or African Americans belonging
- 9 owned by Asians
- 4 Native Americans or Alaska Natives belonging
The PPP loans went to 935 women-owned businesses in Ingham County, 280 in Eaton County and 108 in Clinton County, the data showed.
Contact reporter Craig Lyons at 517-377-1047 or firstname.lastname@example.org. Follow him on Twitter @craigalyons.