Coronavirus PPP Loans: Where The Money Went In Michigan

MICHIGAN — The U.S. Small Business Administration and U.S. Treasury Department have released details for the country's Paycheck Protection Program that helps businesses affected by the coronavirus pandemic.

Across the county, more than 4.9 million loans of more than $150,000 were distributed to businesses and nonprofit organizations. The total amount of money distributed through loans greater than $150,000 exceeded $521 billion.

U.S. Treasury information shows nearly 20,000 businesses and nonprofits in Michigan were approved for loans of more than $150,000. The largest of the loans range between $5-10 million; 185 Michigan companies received loans in that range.

The loans are made by lending institutions including banks and credit unions and are guaranteed by the SBA. All PPP loans are subject to review by the SBA and all loans over $2 million are automatically reviewed by the SBA.

The average size of a PPP loan is around $107,000 and 86.5 percent of all loans were for less than $150,000, according to the SBA.

Here is a searchable database for Michigan companies that received loans of over $150,000.

Editor's Note: The data used in this story came from the Small Business Administration. Since the release of the PPP database, a number of errors related to the loan amounts received by small businesses have been reported. If your business is listed here as receiving the wrong loan amount, email joey.oliver@patch.com so we can make the correction.