Newton Companies Received $269M In Federal Coronavirus Loans

NEWTON, MA — Companies in Newton and Chestnut Hill received $269 million in loan approvals under the federal Paycheck Protection Program, according to data released Tuesday by the Small Business Administration.

The loans went to 2,437 companies and ranged from $315 to $5.7 million. Applicants said the loans would help them protect some 19,613 jobs in the Newton and Chestnut Hill area.

Chestnut Hill, which does include some parts of Brookline, added about 273 loans worth about $40 million. [Editors note: This post has been updated to include the Newton neighborhood of Waban]

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.

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 Newton and Chestnut Hill, the top 10 loans went to:

• $ 5,693,278.00 WS ASSET MANAGEMENT, INC. 33 Boylston St, Suite 3000 Chestnut Hill
• $ 3,975,250.00 WILLIAM JAMES COLLEGE, INC. 1 Wells Ave Newton Center
• $ 3,690,200.00 CHESTNUT HILL REALTY CORP. 300 Independence Dr Chestnut Hill
• $ 2,680,022.00 DANE STREET, LLC 1234 Chestnut St
• $ 2,569,800.00 BARCLAY WATER MANAGEMENT INC 55 Chapel St
• $ 2,508,200.00 THE BEAVER COUNTRY DAY SCHOOL, INC. 791 Hammond St. Chestnut Hill
• $ 2,395,508.00 STANLEY & AMP; SONS INC 3 Carl ST
• $ 2,393,100.00 HOUSEWORKS, LLC One Gateway Center
• $ 2,220,100.00 BOSTON ACADEMY OF THE SACRED HEART, INC. 785 Centre St.
• $ 2,204,400.00 JEWISH COMMUNITY CENTERS OF GREATER BOSTON, INC. 333 Nahanton

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.