Stoughton Companies Received $78.4M In Federal Coronavirus Loans

STOUGHTON, MA — Companies and nonprofits in Stoughton received over $78.4 million in loan approvals under the federal Paycheck Protection Program, according to data released Tuesday by the Small Business Administration.

The loans went to 631 companies and ranged from $415 to about $5.3 million. Applicants said the loans would help them protect 5,629 jobs in Stoughton.

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: Stoughton's Smaller PPP Loans Totaled Over $18 Million

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 Stoughton, the top loans went to:

1. $5,260,300.00 - A. A. WILL CORP.
2. $2,949,037.50 - PRIMO MEDICAL GROUP INC.
3. $2,944,420.00 - YALE APPLIANCE AND LIGHTING INC
4. $2,842,520.00 - FRANKLIN SPORTS, INC
5. $2,602,960.00 - MATS INC
6. $2,335,588.03 - NORTH AMERICAN LEASING
7. $1,763,250.00 - BOSTON INTERIORS HOME FURNISHINGS, LLC
8. $1,651,597.00 - SYSTEMIZE LOGISTICS
9. $1,536,147.00 - ARTISAN INDUSTRIES, INC.
10. $1,500,000.00 - XQUISITE LANDSCAPING, INC.

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.