Acton Companies Received $64M In Federal Coronavirus Loans

ACTON, MA — Companies in Acton received $64 million in loan approvals under the federal Paycheck Protection Program, according to data released Tuesday by the Small Business Administration.

The loans went to 499 companies and ranged from $1,113 to $7,609,782. Applicants said the loans would help them protect 4,844 jobs in Acton.

The data released this week includes all loans under the program passed in March as the coronavirus pandemic took hold and forced widespread business closures and layoffs. SBA released some loan data in July, but that data only showed loans over $150,000 and did not include specific dollar amounts.

The Washington Post, Bloomberg and other media companies sued the SBA to release the full data set. In November, a federal judge ruled in favor of the media companies and ordered the SBA to release the data by Dec. 1. The data released Tuesday was current as of Nov. 24 and includes updates to the data released in July.

Previously on Patch: Coronavirus Relief Loans In Massachusetts: Where PPP Money Went

PPP loans are part of the CARES Act, a comprehensive COVID-19 relief package Congress passed in the spring. The loans are forgivable as long as a certain percentage is used for payroll. The program stopped taking new applications in August, but business groups are pressuring federal lawmakers and the Trump administration to renew the program.

In Acton, here's where the top loans went:

• $7,609,782: THE HAARTZ CORPORATION, 87 Hayward Rd.
• $2,881,510: REX LUMBER COMPANY, 840 Main St.
• $ 2,242,000: ACTON MEDICAL ASSOCIATES, P.C. 321 Main Street
• $ 2,181,157: PSYCHEMEDICS CORPORATION 289 Great Rd Ste 200
• $ 2,123,695: MIG CORPORATION INC, 1 Acton Place suite 200

Statewide, there were nearly 118,000 loans totaling $14.27 billion. In their loan applications, the companies that received the loans said they would help protect 1.17 million jobs in Massachusetts.