Charlestown Companies Received $48.8M In Coronavirus Loans

CHARLESTOWN, MA — Companies and nonprofits in Charlestown received $48.8 million in loan approvals under the federal Paycheck Protection Program, according to data released Tuesday by the Small Business Administration.

The loans went to 310 companies and ranged from $748 to $3.7 million. Applicants said the loans would help them protect 3,685 jobs in Charlestown.

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: This Charlestown Business Got The Most Federal Coronavirus Money ...

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 Charlestown, the top loans went to:

• $3,699,391.00 COSTA FRUIT & PRODUCE 18 Bunker Hill Industrial Park
• $3,337,800.00 CAMBRIDGE COLLEGE, INC. 500 Rutherford Avenue
• $3,281,600.00 APPALACHIAN MOUNTAIN CLUB 10 CITY SQ, Suite 2
• $2,532,200.00 J2 INTERACTIVE LLC 2 Thirteenth Street
• $1,828,684.00 BOSTON BOATWORKS LLC 333 TERMINAL ST
• $1,823,250.00 CAMPBELL CONROY & O'NEIL PC 1 CONSTITUTION PLZ
• $1,494,095.00 MEDIATE MANAGEMENT COMPANY, INC. 4 Bunker Hill Industrial Park
• $1,450,000.00 ROBERT W SULLIVAN, INC. 529 MAIN ST
• $1,255,247.00 TENTINDO, KENDALL, CANNIFF & KEEFE, LLP 510 RUTHERFORD AVE
• $952,100.00 SMARTWEBS, INC. 529 Main St.
• $928,400.00 HEADING HOME INC 529 Main Street
• $919,567.00 SAVE THAT STUFF INC. 200 Terminal Street
• $902,551.00 SEVEN BRIDGES GENOMICS INC 529 MAIN ST. SUITE 6610
• $732,553.40 MACKAY CONCRETE CONSTRUCTION, INC 529 MAIN ST
• $728,500.00 DC BEANE AND ASSOCIATES CONSTRUCTION COMPANY 1 Historical Park Bld
• $668,315.00 POMEROY & CO INC 18 Spice Street
• $665,870.00 AUTOMATION SOLUTIONS, INC. 38 3RD AVE 100W
• $644,782.00 TUDOR WHARF HOTEL TENANT LLC 34 - 44 CHARLES RIVER AVE
• $602,647.82 COMMUNITY RESEARCH INITIATIVE OF NEW ENGLAND, INC. 529 Main St.
• $532,410.00 MAARK LLC 40 Cambridge Street

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.