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Local companies benefit from SBA loans

LISBON — Millions of dollars were put toward helping small businesses throughout Columbiana and Hancock counties in the form of loans through the U.S. Small Business Administration (SBA) Payroll Protection Program (PPP) this year.

The federal loans were awarded to eligible businesses throughout the United States in order to help keep their workers employed during the COVID-19 crisis. The loans carry a 1 percent interest rate.

New information was recently released by the SBA outlining exactly how much funding was administered through the program.

The SBA first released information in July outlining which businesses received more than $150,000 in loans. The new information released by the SBA outlines all of the loans administered through the program, with some churches and non-profit organizations listed as recipients as well.

According to the SBA website, the PPP administered more than $525 billion in funding in the form of 5.2 million loans across the United States to eligible lenders before the program’s Aug. 8 closing date.

The average loan size among all recipients across the U.S. was just over $100,000, according to SBA.gov.

In Ohio, more than $14 billion was released, with Columbiana County receiving roughly more than $43 million. The Ohio loans range in amount from just under $110,000 to $10 million.

In the Lisbon area, Geronimo Painting Co. on McGeegan Road received just under $700,000 and JB Food Services Inc. on Adams Road received just over $677,000.

Companies in the Lisbon area that received just over half a million in loan funding were JP Industrial Products Inc. on state Route 45 and Global Pak Inc. on Elkton Road.

Several other businesses in the county received lower amounts of funding, while a handful of non-profit organizations that serve Columbiana County received the lion’s share.

For example, The Community Action Agency of Columbiana County received just over $2.5 million in PPP funding. The non-profit agency employs just under 300 people.

The Columbiana County Mental Health Center also received $1.09 million. It employs 144 people.

The Family Recovery Center received under $1 million.

In Salem, Butech Bliss received the largest amount of loan funding, at $5.08 million. The steel processing company on South Ellsworth Avenue employs 317 people.

Hickey Metal Fabricating and Roofing Co. on Georgetown Road received the second largest amount, at $2.2 million. The company employs 204 people.

Haltech Corporation on North Price Road received $1.8 million. The manufacturing company employs 130 people.

Meanwhile, Greenford Christian Church and St. Paul Catholic Church in Salem were also the recipients of loans under $350,000.

Some Salem businesses that received loans valued under $150,000 included LB Brunk and Sons Inc., Quality Water Systems and the Salem Golf Club.

In the southern part of the county, Hill International Trucking LLC of East Liverpool received the largest amount of funding, at $1.14 million, with PNP Inc. receiving the second largest amount, at $903,900. PNP is a pipeline supplier and employs 118 people.

Hill International Trucking of Chester, W.Va., also received funding in Hancock County.

Among other recipients in East Liverpool, the YMCA also received funding in the $150,000 to $350,000 range.

In Hancock County, the Homer Laughlin China Co. received just under $5 million in loan funding. According to PPP loan information listed on federalpay.org, the company had a net total payroll expense of between $9.6 million and $24 million in 2019. The company has 500 employees.

Fox Nursing Home in Chester, W.Va., also received $752,000 in funding and B&B Welding and Fabrication received just under $700,000 in funding.

These businesses are only a snapshot of the total businesses in both counties to receive funding.

According to the SBA, the loans will be forgiven if all employee retention criteria are met, and the funds are used for eligible expenses.

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