Joyce Visits Small Businesses in Stow, Witnesses On-The-Ground Impact of PPP Loans in Summit County
STOW – Yesterday, Congressman Dave Joyce (OH-14) visited Anderson International Corp and NMG Aerospace, two small businesses in Stow that received loans through the Paycheck Protection Program (PPP). He toured their facilities, spoke with employees and met those involved with running the businesses. In accordance to guidance and protocols issued by Governor DeWine, the Centers for Disease Control and Prevention and the companies themselves, Joyce had his temperature taken prior to both visits, wore a mask at all times and maintained a social distance whenever possible.
“It was great to visit Anderson International Corp and NMG Aerospace to see firsthand how the Paycheck Protection Program has helped these businesses keep their heads above water and keep workers employed during these difficult times,” said Joyce. “Before the COVID-19 pandemic, over 2.2 million Ohioans worked for small businesses. But the past several months have taken a heavy toll on those businesses, including more than 122,000 minority-owned small businesses. That’s why I continue to fight for this critical loan program and am hopeful that Congress will come together to ensure this next relief package includes the resources necessary to help businesses tackle the challenges that lie ahead and prevent more hardworking Buckeyes from losing their jobs.”
Created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which Joyce voted for back in March, the PPP has provided more than 5 million loans to small businesses, supporting more than 51 million jobs and over 80% of all small business employees. In total, 6,691 businesses in OH-14 have received a PPP loan, helping to save 77,649 jobs across Northeast Ohio. Thanks to the $1.2 million PPP loan Anderson International Corp received in April, the business has been able to keep all of its 73 employees on payroll despite losing close to 40% of its typical income. NMG Aerospace, which received a $6.9 million PPP loan, has been able to keep 80% of its 374 workers employed.