At least 15 Warren businesses and non-profits, out of more than 2,000 across the state, received loans of at least $150,000 from the federal Paycheck Protection Program to help pay employees during …
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At least 15 Warren businesses and non-profits, out of more than 2,000 across the state, received loans of at least $150,000 from the federal Paycheck Protection Program to help pay employees during the Coronavirus outbreak.
The loans were part of the federal government's CARES Act, and will be forgiven if the business which received them maintain their employees and pledge not to reduce salaries. Funds can also be used for rent, utilities, mortgages and other expenses.
Here is a list of the Warren-based businesses that were approved for a loan, according to data released by the U.S. Small Business Administration. Sixteen other businesses were listed as being beneficiaries, but the data did not show an approval date for the loan and they are not included in this list.
* Bridan Corporation, 160 Franklin St. Loan range $150,000 to $350,000;
* Warren Electric Corp., 36 Franklin St. Loan range $150,000 to $350,000;
* Warren Dental Associates, 634 Main St. Loan range $150,000 to $350,000;
* Creative Connection, 84 Cutler St., Loan range $150,000 to $350,000;
* Sagamore Sales and Marketing, 569 Main St., Suite 201. Loan range $350,000-$1 million;
* Taylor Box Company, 293 Child St. Loan range $350,000-$1 million;
* O&G Studio LLC, 30 Cutler St. Loan range $150,000 to $350,000;
* Waterfront Investments LLC, 215 Water St. Loan range $150,000 to $350,000;
* The Corliss Institute, 290 Main St. Loan range $150,000 to $350,000;
* Choice Collison Center Inc., 2 Industrial Way. Loan range $150,000 to $350,000;
* Magnetic Seal, 365 Market St. Loan range, $1-$2 million;
* WaterRower Inc., 560 Metacom Ave. Loan range $1-$2 million;
* Blount Boats, 461 Water St. Loan range $350,000-$1 million;
*East Bay Educational Collaborative, 317 Market St. Loan range $350,000-$1 million.
* Phoenix Times Publishing, 1 Bradford St., Bristol. Note: Though this is a Bristol business, it is listed here as it is the parent company of the Warren Times-Gazette.