Earlier this week, the U.S. Small Business Administration released detailed information on approved borrowers from the federal government’s Paycheck Protection Program, including those in Montgomery County, writes Matthew Kish for the Philadelphia Business Journal.
The SBA was ordered by U.S. District Judge James Boasberg to release the “names, addresses, and precise loan amounts of all individuals and entities that obtained COVID-related loans pursuant to the Paycheck Protection Program and Economic Injury Disaster Loans program.” This follows a lawsuit filed in May by several news organizations.
Prior to the ruling, the SBA had refused to release the information when asked to do so under the Freedom of Information Act, citing privacy concerns.
In Montgomery County, the highest amount went to Wampole-Miller in Conshohocken, which was approved for a PPP loan of $10,000,000. The company retained 395 jobs.
Emergency Care Research Institute in Plymouth Meeting received a PPP loan of $8,869,450 and retained 462 jobs, while Utility Line Services received $7,775,177 and kept 380 jobs.
Meanwhile, Venezia Hauling in Pottstown was approved for $7,087,900. No jobs were retained.
Finally, Philadelphia D & M in Plymouth Meeting received $7,084,400. It retained 409 jobs.
Read more about the PPP loans at the Philadelphia Business Journal by clicking here.
