Woburn Businesses Second Only To Boston In MA PPP Funding

WOBURN, MA — Woburn businesses were among the biggest recipients of federal Paycheck Protection Program loans in Massachusetts, second only to businesses in Boston's financial district, according to new data reported by the Boston Business Journal.

Businesses in the city's 01801 zip code received over 1,300 loans worth nearly $290 million, just short of downtown Boston's $296 million. Combined, Boston businesses received over $1 billion in PPP loans.

The Paycheck Protection Program, part of the CARES Act passed in response to the coronavirus pandemic in March, offered forgivable loans for payroll and other expenses. The Boston Business Journal and other companies sued the federal government for data on every single PPP loan.

>>Read more from the Boston Business Journal

PPP Loans to 01801 Woburn businesses

• Loan amount - $289,240,979.83
• Total number of loans - 1358

Outside of Boston, other Massachusetts communities which received large amounts of loans include Braintree, Quincy and Waltham.

One Woburn business, the nursing and rehab facility provider Next Step Healthcare LLC, received a maximum $10 million loan, Boston Business Journal also reported. At least four other city firms received $5 million or more.

Christopher Huffaker can be reached at 412-26-58353 or chris.huffaker@patch.com.