Four Montgomery County ZIP Codes are among the highest recipients of federal Paycheck Protection Program loans of over $150,000 in the Philadelphia area, writes Kennedy Rose for the Philadelphia Business Journal.
PPP was established to assist businesses to keep their staff on payroll during the COVID-19 pandemic by providing them with loans of up to $10 million.
In Montgomery County, the ZIP Code with the highest number of approved PPP loans of more than $150,000 is 19406 in King of Prussia at 227.
This is also the second ZIP Code in the entire Philadelphia region with the number of approved loans within this range, just behind Philadelphia’s 19103 ZIP Code which has so far received 405 loans.
Next is ZIP Code 19428. This area includes Conshohocken and Plymouth Meeting with 181 businesses having been approved for a loan of $150,000 or higher.
Next on the list is ZIP Code 19422 in Blue Bell with 151 approved loans.
Finally, ZIP Code 19446 in Lansdale is also near the top of the table with a current total of 104 approved loans.
Read more about the PPP loans at the Philadelphia Business Journal by clicking here.