Find out which Saginaw County companies received the biggest PPP loans
SAGINAW, MI – The federal Paycheck Protection Program, instituted in 2020 to help keep small businesses afloat during the COVID-19 pandemic, has paid Michigan more than $ 24 billion on approximately 300,000 loans.
Just under $ 414 million of that amount went to Saginaw County through 5,699 loans, of which 558 were worth $ 150,000 or more and 5,131 were under $ 60,000, according to federal data obtained by MLive. The program began providing funds weeks after the start of the pandemic and had a second round of funding in 2021.
Morley Companies Inc., the Saginaw County and Business Services Company third employer according to Saginaw Future, received the most aid by far and was the only entity to receive the maximum first round amount of $ 10 million. With the exception of Duro-Last, which received nearly $ 9 million, no other company exceeded $ 6 million, and apart from the first four, no other company received more than $ 5 million in program loans.
The 10 Biggest PPP Loans in Saginaw County
- Morley Companies Inc. received $ 10,000,000.
- Duro-Last Inc., a national roofing company headquartered in Saginaw, received $ 8,930,292.
- Merrill Fabricators Inc., which employs 405 according to Saginaw Future, received $ 5,886,000.
- Saginaw Cooperative Hospitals Inc., or CMU medical training partners, received $ 5,049,500.
- Hausbeck Brothers, Inc., based in Reese, received $ 4,939,500.
- Stone Transport Limited Partnership, a trucking and logistics company based in the Township of Buena Vista Charter, received $ 4,306,538.
- Spicer Group, Inc., a land surveyor who employs 270 people, received $ 3,546,200.
- Star of the West Milling Co., based in Frankenmuth, received $ 3,538,300.
- Yeo & Yeo, a business consulting firm, received $ 3,366,600.
- Zehnder by Frankenmuth, Inc. received $ 3,264,100.
In total, entities affiliated with the Zehnder family, whose members own and operate many of Frankenmuth’s most popular tourist destinations, received a total of $ 12,658,797 million on six loans.
- Zehnder’s of Frankenmuth received an additional $ 2,000,000.
- Bavarian Inn Frankenmuth, Inc. received $ 2,000,000 and $ 1,679,200.
- Frankenmuth Bavarian Inn Motor Lodge, Inc. received $ 2,000,000 and $ 1,715,497.
For a complete list of Saginaw County loans, view and search the table below. If you don’t see the graph, Click here.
MLive data reporter Scott Levin contributed reporting for this story.
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