COLDWATER, MI (WTVB) – Almost 400 Branch County businesses and non-profit organizations received loans through the Paycheck Protection Program according to information published this week by the Small Business Administration and Treasury Department.
The P.P.P. loans were distributed as part of the CARES Act and figures show nearly 5,000 employees in Branch County benefitted.
Coldwater businesses got 248 loans totaling over $10 million while 58 went to Quincy totaling about $2.2 million, 49 went to Bronson totaling $1.8 million, 31 went to Union City worth just under $800,000 and nine went to Sherwood totaling over $232,000.
Local companies that got loans of between $2 million and $5 million were ASAMA Coldwater Manufacturing, JL Maynard, Sekisui Voltek and Speedrack Products Group. In the case of Sekisui Voltek, company officials say the money was immediately repaid, so in essence there wasn’t a loan.
