YOUNGSTOWN, Ohio – In Mercer and Lawrence counties, 2,399 businesses received a total of $274,940,896.11 in Paycheck Protection Program loans, according to data from the Small Business Administration.
The loans, which were awarded throughout the span of the program between April 3 and Aug. 8, helped companies in the two counties retain 25,753 jobs.
Loans ranged from the maximum amount of $10 million – Joy Cone in Hermitage, Pa., was the only business to get that amount – to $587, received by Bruening Signs & Advertising in New Castle, Pa.
Bruce-Merrilees Electric Co. of New Castle, Pa., got the second-largest PPP loan, $6,742,042, in the two counties, followed by Interstate Chemical Co. in Hermitage, which received $4,342,600.
Rounding out the top 10 in Mercer and Lawrence counties are:
• Flynn’s Tires of Pennsylvania Inc., Hermitage, $4,323,337.
• Global Management Solutions Inc., Ellwood City, $4,128,700.
• Autosoft Inc., West Middlesex, $3,862,000.
• Westminster College, New Wilmington, $3,626,920.
• St. Paul Homes, Greenville, $3,205,400.
• Thiel College, Greenville, $2,369,800.
• Grove Manor Corp., Greenville, $2,231,300.
The median Paycheck Protection loan in the two counties was $27,400. There were 43 loans of more than $1 million and 12 of less than $1,000.
First National Bank of Pennsylvania was the largest lender in the two counties, with 946 PPP loans totaling $111,106,039. The median loan size was $27,803.50.
Huntington National Bank ranked second with 265 loans for $30,518,692 – a median of $30,100 – and PNC followed closely in third with 220 loans for $30,353,600, a median of $34,650.