The U.S. Small Business Administration reported this week that over 1,500 businesses in the Adams/Hanover area were helped by the U.S. Government’s Payroll Protection Program (PPP) that was intended to soften the economic damage from the coronavirus pandemic.
About 200 organizations received funds of over $150,000 for a total of $89 million and around 1,300 organizations received funds of less than $150,000 for a total of $48 million.
The maximum loan amount in the program was $10 million.
Because the report is listed by zip code it includes some companies in Hanover as well as those in Adams County.
Adams County companies that received at least $1 million were:
- GVM, Inc., Biglerville
- Waggoner Construction Inc., East Berlin
- Penn Wood Products Inc., East Berlin
- Rice Fruit Company, Gardners
- Zeigler Bros. Inc., Gardners
- Graphcom, Inc., Gettysburg
- Transitions Healthcare Gettysburg, LLC, Gettysburg
- Bar Ray Products Inc., Littlestown
- Hoffman Homes Inc., Littlestown
- Kennie’s Markets, Inc., Littlestown
- Mid Atlantic Cooperative Solutions Inc., New Oxford
- Agricultutal Commodities Inc., New Oxford
- Winter Gardens Quality Foods Inc.,New Oxford
The names of the companies receiving less than $150,000 were not listed but they included Corporations, Non-Profit Organizations, Limited Liability Companies, Sole Proprietorships, and Partnerships.
Companies that maintain most of their payroll through the span of the loan may convert those funds into a grant.
The PPP was initially rolled out in April as part of the CARES Act and offered $349 billion to small businesses. When those funds ran out the government replenished the program with an additional $310 billion. There is about $130 billion remaining.
Charles (Chuck) Stangor is Gettysburg Connection's Owner, Publisher, and Editor in Chief. I would like to hear from you. Please contact me at cstangor@gettysburgconnection.org.