SBA's PPP put $1.1 billion into Vermont to help save 114,000 jobs

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SBA's PPP put $1.1 billion into Vermont to help save 114,000 jobs

Tue, 07/07/2020 - 10:08am -- tim

Vermont Business Magazine The US Small Business Administration, in consultation with the Treasury Department, on Monday released detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made.

There were 10,387 PPP loans in Vermont under $150,000 with a total value of $367,897,165 and the associated jobs retained were 45,179. There were 1,542 loans of $150,000 or more which retained 68,659 jobs.

Between the large and small loans which totaled 11,929 companies, Vermont received $1,187,439,086. Total jobs retained were 113,838. The small loans were itemized but the companies were not named. The large loans were not itemized but company names were provided.

The list of Vermont organizations receiving $1 million or more is below. There are 171 such organizations, ranging from for-private businesses to non-profit entities.

The lending intuitions for each loan provided all the upfront capital. The US Treasury then will reimburse the lender once the PPP requirements are satisfied related to payroll and then the rest of the funding converts to a regular 1 percent loan between the borrower and the lender. Congress could take further action to forgive the entire PPP or up to a certain amount regardless of whether it was all used for payroll or not.

“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,” said Secretary Steven T. Mnuchin.  “We are particularly pleased that 27% of the program’s reach in low and moderate income communities which is in proportion to percentage of population in these areas.  The average loan size is approximately $100,000, demonstrating that the program is serving the smallest of businesses,” he continued.  “Today’s release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors.”

“The PPP is an indisputable success for small businesses, especially to the communities in which these employers serve as the main job creators,” said Administrator Jovita Carranza.  “In three months, this Administration was able to act quickly to get funding into the hands of those who faced enormous obstacles as a result of the pandemic.  Today’s data shows that small businesses of all types and across all industries benefited from this unprecedented program.  The jobs numbers released last week reinforce that PPP is working by keeping employees on payroll and sustaining millions of small businesses through this time.”

The SBA information includes loan-level data, including business names, addresses, NAICS (industrial classification) codes, zip codes, business type, demographic data, non-profit information, name of lender, jobs supported, and loan amount ranges as follows:

  • $150,000-350,000
  • $350,000-1 million
  • $1-2 million
  • $2-5 million
  • $5-10 million

These categories account for nearly 75 percent of the loan dollars approved.  For all loans below $150,000, SBA is releasing all of the above information except for business names and addresses.

The data release also includes overall statistics regarding dollars lent per state, loan amounts, top lenders, and distribution by industry.  The loans have reached diverse communities proportionally, across all income levels and demographics.

In addition, the data provides information regarding the sizes of participating lenders and participation by community development financial institutions, minority depository institutions, Farm Credit System institutions, fintechs and other nonbanks, and other types of lenders.  It further contains data showing the reach of the program in underserved communities, rural communities, historically underutilized business zones (HUBZones), and participation by religious, grantmaking, civil, professional, and other similar organizations.

Vermont Organizations Receiving $1 Million Or More

Loan Range Business Name City Jobs Retained Lender
a $5-10 million BENNINGTON COLLEGE CORPORATION BENNINGTON 370 TD Bank, National Association
a $5-10 million COPLEY HOSPITAL, INC. MORRISVILLE 0 Union Bank
a $5-10 million GW PLASTICS, INC. BETHEL 500 People's United Bank, National Association
a $5-10 million ITECH US INC SOUTH BURLINGTON 260 First United Bank and Trust Company
a $5-10 million MOMENTUM MANFACTURING GROUP LLC SAINT JOHNSBURY 500 Wintrust Bank, National Association
a $5-10 million PC CONSTRUCTION COMPANY SOUTH BURLINGTON 403 TD Bank, National Association
a $5-10 million VERMONT ENERGY INVESTMENT CORPORATION WINOOSKI 302 People's United Bank, National Association
b $2-5 million AUTUMN HARP INC ESSEX JUNCTION 0 TD Bank, National Association
b $2-5 million BAKER DISTRIBUTING CORPORATION COLCHESTER 243 People's United Bank, National Association
b $2-5 million BELLAVANCE TRUCKING, INC. BARRE 165 TD Bank, National Association
b $2-5 million BOWL NEW ENGLAND, INC. COLCHESTER 500 People's United Bank, National Association
b $2-5 million BURR & BURTON SEMINARY MANCHESTER 179 Berkshire Bank
b $2-5 million CABOT HOSIERY MILLS, INC NORTHFIELD 324 People's United Bank, National Association
b $2-5 million CARLOS G OTIS HEALTH CARE CENTER INC TOWNSHEND 208 People's United Bank, National Association
b $2-5 million CERSOSIMO LUMBER COMPANY INC. BRATTLEBORO 221 People's United Bank, National Association
b $2-5 million COMMUNITY HEALTH CENTERS OF BURLINGTON, INC. BURLINGTON 301 KeyBank National Association
b $2-5 million COMMUNITY HEALTH CENTERS OF THE RUTLAND REGION, INC. RUTLAND 356 People's United Bank, National Association
b $2-5 million CONTROL TECHNOLOGIES WILLISTON 144 People's United Bank, National Association
b $2-5 million D.E.W. CONSRUCTION CORP. WILLISTON 126 Northfield Savings Bank
b $2-5 million DOWNS RACHLIN MARTIN PLLC SAINT JOHNSBURY 121 Woodsville Guaranty Savings Bank
b $2-5 million DUBOIS & KING, INC. RANDOLPH 120 People's United Bank, National Association
b $2-5 million ENGELBERTH CONSTRUCTION, INC. COLCHESTER 138 People's United Bank, National Association
b $2-5 million ENGINEERS CONSTRUCTION INC. WILLISTON 124 People's United Bank, National Association
b $2-5 million EUSTIS CABLE ENTERPRISES LTD BROOKFIELD 225 People's United Bank, National Association
b $2-5 million FARRELL DISTRIBUTING CORPORATION SOUTH BURLINGTON 326 Community National Bank
b $2-5 million FOODSCIENCE CORPORATION WILLISTON 162 TD Bank, National Association
b $2-5 million GALVION BALLISTICS LTD. NEWPORT 222 BMO Harris Bank National Association
b $2-5 million GARDENER'S SUPPLY COMPANY, INC BURLINGTON 253 Northfield Savings Bank
b $2-5 million HAZELETT STRIP-CASTING CORP. COLCHESTER 150 Community Bank, National Association
b $2-5 million HERITAGE AUTOMOTIVE GROUP INC SOUTH BURLINGTON 361 TD Bank, National Association
b $2-5 million HUBBARDTON FORGE LLC CASTLETON 232 TD Bank, National Association
b $2-5 million JOLLEY ASSOCIATES, LLC SAINT ALBANS 417 NBT Bank, National Association
b $2-5 million KAYCAN LTD WILLISTON 180 Bank of America, National Association
b $2-5 million KOFFEE KUP DONUT SHOP, INC. COLCHESTER 284 KeyBank National Association
b $2-5 million LAMOILLE COUNTY MENTAL HEALTH SERVICES, INC. MORRISVILLE 0 Union Bank
b $2-5 million LANDMARK COLLEGE INC PUTNEY 331 TD Bank, National Association
b $2-5 million LARK INNS, L.P. BURLINGTON 428 Community Bank, National Association
b $2-5 million LOGIC SUPPLY, INC. SOUTH BURLINGTON 119 KeyBank National Association
b $2-5 million MACTAW, INC SOUTH BURLINGTON 182 Manufacturers and Traders Trust Company
b $2-5 million NEW ENGLAND AIR SYSTEMS LLC WILLISTON 132 People's United Bank, National Association
b $2-5 million NORTHEAST KINGDOM HUMAN SERVICES NEWPORT 465 Community National Bank
b $2-5 million ONION RIVER COOPERATIVE INC. BURLINGTON 315 Mascoma Bank
b $2-5 million PEERLESS CLOTHING INTERNATIONAL INC SAINT ALBANS 487 HSBC Bank USA, National Association
b $2-5 million PLANNED PARENTHOOD OF NORTHERN NEW ENGLAND, INC. COLCHESTER 253 People's United Bank, National Association
b $2-5 million R.K. MILES, INC. MANCHESTER CENTER 201 Community Bank, National Association
b $2-5 million RESOURCE SYSTEMS GROUP, INC. WHITE RIVER JUNCTION 124 Mascoma Bank
b $2-5 million S.D. IRELAND CONCRETE CONSTRUCTION CORPORATION WILLISTON 200 Community Bank, National Association
b $2-5 million SIMON PEARCE, INC WINDSOR 250 People's United Bank, National Association
b $2-5 million SMUGGLERS NOTCH MANAGEMENT CO. LTD. JEFFERSONVILLE 0 Union Bank
b $2-5 million SOLARCOMMUNITIES, INC. WATERBURY Citizens Bank, National Association
b $2-5 million SPRINGFIELD HOSPITAL, INC. SPRINGFIELD 451 Mascoma Bank
b $2-5 million SUPERIOR TECHNICAL CERAMICS CORP SAINT ALBANS 170 Cambridge Savings Bank
b $2-5 million THE LANE PRESS SOUTH BURLINGTON 153 People's United Bank, National Association
b $2-5 million THUNDERBIRD LLC SOUTH BURLINGTON 374 TD Bank, National Association
b $2-5 million TRANS RAIL HOLDING COMPANY BURLINGTON 139 Northfield Savings Bank
b $2-5 million TRAPP FAMILY LODGE INC. STOWE 0 Union Bank
b $2-5 million TRUSTEES OF THE ST. JOHNSBURY ACADEMY SAINT JOHNSBURY 252 Passumpsic Savings Bank
b $2-5 million TWINCRAFT, INC. WINOOSKI 217 Community Bank, National Association
b $2-5 million UNITED COUNSELING SERVICE OF BENNINGTON COUNTY INC BENNINGTON 279 The Bank of Bennington
b $2-5 million VERMONT ELECTRIC COOPERATIVE, INC. JOHNSON 106 People's United Bank, National Association
b $2-5 million VERMONT LAW SCHOOL, INC. SOUTH ROYALTON 225 TD Bank, National Association
b $2-5 million VHV COMPANY WINOOSKI 173 Community Bank, National Association
b $2-5 million VNA & HOSPICE OF THE SOUTHWEST REGION INC. RUTLAND 300 Berkshire Bank
b $2-5 million VT. PRECISION-FRAN CTY IND CO. SWANTON 235 People's United Bank, National Association
b $2-5 million WOODSTOCK RESORT CORPORATION WOODSTOCK 389 People's United Bank, National Association
b $2-5 million WORLD LEARNING INC. BRATTLEBORO 366 KeyBank National Association
c $1-2 million 98 STARR FARM ROAD OPERATING COMPANY, LLC BURLINGTON 131 People's United Bank, National Association
c $1-2 million ADA TRAFFIC CONTROL, LTD. COLCHESTER 200 People's United Bank, National Association
c $1-2 million ADDISON COUNTY HOME HEALTH & HOSPICE, INC. MIDDLEBURY 105 National Bank of Middlebury
c $1-2 million ALLIANCE MECHANICAL INC. ESSEX JUNCTION KeyBank National Association
c $1-2 million ARC MECHANICAL CONTRACTORS,INC BRADFORD 71 Ledyard National Bank
c $1-2 million AUTOMASTER MOTOR CO., INC. SHELBURNE 140 People's United Bank, National Association
c $1-2 million AWH STOWE RESORT HOTEL, LLC STOWE 196 CIBC Bank USA
c $1-2 million BENOIT ELECTRIC, INC. BARRE 80 People's United Bank, National Association
c $1-2 million BENOURE PLUMBING AND HEATING, INC. SOUTH BURLINGTON 75 NBT Bank, National Association
c $1-2 million BIRCHWOOD OPERATIONS LLC BURLINGTON 132 Customers Bank
c $1-2 million BLA PARTNERS LLC SOUTH BURLINGTON 62 KeyBank National Association
c $1-2 million BOURNE'S, INC. MORRISVILLE 0 Union Bank
c $1-2 million BURLINGTON SUBARU INC. BURLINGTON 96 JPMorgan Chase Bank, National Association
c $1-2 million CAPITAL CANDY COMPANY INC. BARRE 160 People's United Bank, National Association
c $1-2 million CAPSTONE COMMUNITY ACTION BARRE 166 Northfield Savings Bank
c $1-2 million CASELLA CONSTRUCTION, INC. MENDON 129 TD Bank, National Association
c $1-2 million CATHEDRAL SQUARE CORPORATION SOUTH BURLINGTON 126 People's United Bank, National Association
c $1-2 million CENTRAL VERMONT HOME HEALTH & HOSPICE, INC BARRE 163 Northfield Savings Bank
c $1-2 million CHAMPLAIN CHOCOLATE COMPANY BURLINGTON TD Bank, National Association
c $1-2 million CHAMPLAIN HOUSING TRUST, INC. BURLINGTON TD Bank, National Association
c $1-2 million CHAMPLAIN VALLEY EQUIPMENT, INC. MIDDLEBURY 90 Community Bank, National Association
c $1-2 million CHUCK'S HEATING AND AIR CONDITIONING, INC. COLCHESTER 105 Community Bank, National Association
c $1-2 million CITY FEED AND LUMBER CO., INC. SAINT ALBANS 126 NBT Bank, National Association
c $1-2 million CLARA MARTIN CENTER INC. RANDOLPH 181 Northfield Savings Bank
c $1-2 million COMMANDO LLC SOUTH BURLINGTON 93 Community National Bank
c $1-2 million COMPETITIVE COMPUTING INC. COLCHESTER TD Bank, National Association
c $1-2 million CONCEPT2, INC. MORRISVILLE 71 TD Bank, National Association
c $1-2 million CONCEPTS NREC LLC WHITE RIVER JUNCTION 86 Community National Bank
c $1-2 million COPLEY PROFESSIONAL SERVICES GROUP INC. MORRISVILLE 0 Union Bank
c $1-2 million DARTMOUTH JOURNAL SERVICES INC WATERBURY 137 American National Bank of Minnesota
c $1-2 million DEALERPOLICY, INC WILLISTON 71 People's United Bank, National Association
c $1-2 million DORE & WHITTIER ARCHITECTS, INC. BURLINGTON 59 TD Bank, National Association
c $1-2 million ESSEX INN LIMITED PARTNERSHIP ESSEX JUNCTION 127 Leader Bank, National Association
c $1-2 million FLEX-A-SEAL, INC. WILLISTON 133 People's United Bank, National Association
c $1-2 million FRANKLIN COUNTY HOME HEALTH AGENCY, INC. SAINT ALBANS 161 Peoples Trust Company of St. Albans
c $1-2 million GALLAGHER, FLYNN & COMPANY, LLP SOUTH BURLINGTON 70 TD Bank, National Association
c $1-2 million GLOBAL SOURCING GROUP INC. BURLINGTON 65 Bank of America, National Association
c $1-2 million GODDARD COLLEGE CORPORATION PLAINFIELD 140 Community National Bank
c $1-2 million GOSS DODGE INC SOUTH BURLINGTON 105 Truist Bank d/b/a Branch Banking & Trust Co
c $1-2 million GREATER BURLINGTON YOUNG MENS CHRISTIAN ASSOCIATION INC BURLINGTON 405 Northfield Savings Bank
c $1-2 million GREEN MOUNTAIN ELECTRIC SUPPLY COLCHESTER 194 Berkshire Bank
c $1-2 million GREEN MTN. CONCERT SERVICES, INC. WILLISTON Citizens Bank, National Association
c $1-2 million HALLAM ASSOCIATES, INC SOUTH BURLINGTON 97 TD Bank, National Association
c $1-2 million HARRISON CONCRETE CONSTRUCTION, INC. GEORGIA 63 Community Bank, National Association
c $1-2 million HAYWARD TYLER, INC. COLCHESTER 108 TD Bank, National Association
c $1-2 million HUNGER MOUNTAIN COOPERATIVE INC. MONTPELIER 122 Northfield Savings Bank
c $1-2 million IVEK CORPORATION NORTH SPRINGFIELD 104 TD Bank, National Association
c $1-2 million J HUTCHINS INC RICHMOND 0 Simmons Bank
c $1-2 million KINGSBURY COMPANIES LLC MIDDLESEX 73 Northfield Savings Bank
c $1-2 million KP BUILDING PRODUCTS INC WILLISTON 96 Bank of America, National Association
c $1-2 million LAKE CHAMPLAIN TRANSPORTATION COMPANY BURLINGTON 106 Community National Bank
c $1-2 million LARAWAY YOUTH & FAMILY SERVICES, INC. JOHNSON 146 Community National Bank
c $1-2 million LONG FALLS PAPERBOARD LLC BRATTLEBORO 103 People's United Bank, National Association
c $1-2 million LUND FAMILY CENTER, INC. SOUTH BURLINGTON 138 People's United Bank, National Association
c $1-2 million MANUFACTURING SOLUTIONS INC. MORRISVILLE 0 Union Bank
c $1-2 million MARK ST PIERRE RICHFORD 100 Community National Bank
c $1-2 million MAYO HEALTHCARE INC NORTHFIELD 124 Northfield Savings Bank
c $1-2 million MOUNT ANTHONY HOUSING CORPORATION BENNINGTON 183 TD Bank, National Association
c $1-2 million NAYLOR & BREEN BUILDERS, INC. BRANDON 95 Bar Harbor Bank & Trust
c $1-2 million NEW ENGLAND WOODCRAFT, INC BRANDON 149 TD Bank, National Association
c $1-2 million NORTH HARTLAND TOOL CORPORATIO NORTH HARTLAND 80 KeyBank National Association
c $1-2 million NORTHEAST WASHINGTON COUNTY COMMUNITY HEALTH INC PLAINFIELD 100 Northfield Savings Bank
c $1-2 million OUTDOOR GEAR EXCHANGE BURLINGTON 122 Community Bank, National Association
c $1-2 million PAD PRINT MACHINERY OF VERMONT INC. EAST DORSET 75 TD Bank, National Association
c $1-2 million PECK ELECTRIC CO. SOUTH BURLINGTON 100 NBT Bank, National Association
c $1-2 million PHOENIX FEEDS & NUTRITION, INC. NEW HAVEN 62 People's United Bank, National Association
c $1-2 million POULIN GRAIN, INC. NEWPORT 125 Community National Bank
c $1-2 million PREMIER COACH CO., INC. MILTON 87 Community Bank, National Association
c $1-2 million PRIMARY CARE HEALTH PARTNERS-VERMONT, LLP WILLISTON 103 KeyBank National Association
c $1-2 million PRIMMER PIPER EGGLESTON AND CRAMER PC BURLINGTON TD Bank, National Association
c $1-2 million QUECHEE LAKES LANDOWNERS' ASSO QUECHEE 120 Bar Harbor Bank & Trust
c $1-2 million R.R. CHARLEBOIS, INC. MILTON 77 Community Bank, National Association
c $1-2 million RHINO, INC BURLINGTON 218 People's United Bank, National Association
c $1-2 million RICHARDS, INC. BRATTLEBORO 142 The Brattleboro Savings & Loan Association
c $1-2 million ROAD TO HANA, INC. SOUTH BURLINGTON 212 Community National Bank
c $1-2 million S. B. COLLINS, INC. SAINT ALBANS 72 NBT Bank, National Association
c $1-2 million S.D. IRELAND BROTHERS CORPORATION WILLISTON 104 Community Bank, National Association
c $1-2 million SAC INCORPORATED, A VERMONT CORPORATION WILLISTON 112 Community National Bank
c $1-2 million SD ASSOCIATES, LLC WILLISTON 122 People's United Bank, National Association
c $1-2 million SELECT DESIGN LTD BURLINGTON 64 Community National Bank
c $1-2 million SEWIN LOVE FABRIC SHOPPE LYNDON CENTER 0 Union Bank
c $1-2 million SPORTS & FITNESS EDGE INC SOUTH BURLINGTON 350 Bank of America, National Association
c $1-2 million SPRINGFIELD MEDICAL CARE SYSTEMS, INC SPRINGFIELD 257 Mascoma Bank
c $1-2 million SSG-ADVISORS, LLC BURLINGTON 109 Sandy Spring Bank
c $1-2 million TATA'S NATURAL ALCHEMY, LLC WHITING 130 KeyBank National Association
c $1-2 million THE PEOPLE'S COMPUTER COMPANY, INC. WINOOSKI 80 People's United Bank, National Association
c $1-2 million THE SKINNY PANCAKE INC. BURLINGTON 150 Northfield Savings Bank
c $1-2 million THE VERMONT TEDDY BEAR CO INC SHELBURNE 116 TD Bank, National Association
c $1-2 million THETFORD ACADEMY THETFORD CENTER 90 Mascoma Bank
c $1-2 million TIVOLY, INC. DERBY LINE 132 Community National Bank
c $1-2 million TOTAL TEMPERATURE INSTRUMENTATION, INC. SOUTH BURLINGTON 65 Community Bank, National Association
c $1-2 million TYGATE MOTEL CORPORATION SOUTH BURLINGTON 150 Community Bank, National Association
c $1-2 million UNDERWOOD CATERING INC ENOSBURG FALLS 474 NBT Bank, National Association
c $1-2 million UPPER VALLEY SERVICES, INC. RANDOLPH 212 People's United Bank, National Association
c $1-2 million VERMONT ACADEMY SAXTONS RIVER 96 TD Bank, National Association
c $1-2 million VERMONT BREAD COMPANY BRATTLEBORO 111 KeyBank National Association
c $1-2 million VERMONT COLLEGE OF FINE ARTS MONTPELIER 106 Mascoma Bank
c $1-2 million VERMONT LEGAL AID INC BURLINGTON 71 People's United Bank, National Association
c $1-2 million VERMONT MAPLE SUGAR COMPANY, INC. MORRISVILLE 0 Union Bank
c $1-2 million VERMONT MECHANICAL INCORPORATED WILLISTON 129 People's United Bank, National Association
c $1-2 million VERTEK CORPORATION COLCHESTER 91 KeyBank National Association
c $1-2 million WAKE ROBIN CORPORATION SHELBURNE 166 Manufacturers and Traders Trust Company
c $1-2 million WESCO INC SOUTH BURLINGTON 185 People's United Bank, National Association
c $1-2 million WESTMINSTER CRACKER COMPANY, INC. RUTLAND 119 Wintrust Bank, National Association
c $1-2 million WHITNEY BLAKE OF VT, INC BELLOWS FALLS 0 TD Bank, National Association

View all US data.

About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov

Source: WASHINGTON—The U.S. Small Business Administration 7.6.2020