A total of 40 businesses in 23 communities covered by the Daily Herald in DuPage County received the highest level of loans through the federal Payroll Protection Program, data from the U.S. Small Business Administration show.
Companies are among more than 3,300 in this part of DuPage that received at least $ 150,000 from the program, which was created to lessen the effect of the COVID-19 pandemic on the economy.
Top-tier loan applicants searched between $ 5 million and $ 10 million in the program, which offers loans that can be forgiven, in whole or in part, if employers refrain from cutting jobs. DuPage County businesses that searched for the largest loans available include:
• William T. Connelly Inc. in Addison.
• Andy Frain Services, Engineering Systems Inc. and Magnetrol International Holding Co. in Aurora.
• D&D Plumbing, Denk & Roche Builders, Just In Time Staffing and LEC Delaware LLC in Bensenville.
• TCC Wireless in Bloomingdale.
• American Litho on Carol Stream.
• Flexible Steel Lacing Co. and Sevan Multi-Site Solutions in Downers Grove.
• Patson Inc. and RG Construction Services in Elmhurst.
• Abcom Technology Group, American Academy of Pediatrics, Gift of Hope Organ Tissue Donor Network, installation specialists and National Safety Council in Itasca.
• Patrick Engineering at Lisle.
• Pernix Group, Progressive Packaging Corp., Quest Food Management Services and TRP Acquisition in Lombard.
• Phoenix Closures, Inproduction, Midwest Anesthesia Partners and Total Staffing Solutions in Naperville.
• AM Castle and Co., Blistex, Fourgen Holdings, Inland Investment Real Estate Service, Launch Technical Workforce Solutions, Nephrology Associates of Northern Illinois, Summit Staffing and Witt Kieffer in Oak Brook.
• Acquisition of M&R US in Roselle.
• Aligned Equity Partners, Plymouth Tube Co. and Symbria in Warrenville.
The loans, if forgiven, could be converted into federal grants, funded by American taxpayers.
A total of 3,171 companies and nonprofits in the Daily Herald’s DuPage County coverage area received minor grants between $ 150,000 and $ 5 million.
No matter the amount, these federal loans and other local forms of assistance are helping businesses keep their doors open, said Greg Bedalov, president and CEO of economic development agency Choose DuPage. For example, a relief program Choose DuPage is implementing in partnership with the county government has so far distributed approximately $ 5 million in forgivable loans to small businesses affected by the pandemic, Bedalov said.
The problem is that many companies need more ongoing assistance to avoid layoffs or closings, he said.
“Without additional funds, it will be very difficult for these companies to survive,” said Bedalov.
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