Dec 15
2020
Sliver of companies got half of pandemic aid
A lot of businesses received forgivable loans from the federal government to help them through the pandemic. To be exact, 18,768 in the eight counties of Western New York. The loans were worth $2.2 billion, altogether. But a fraction of the companies — some 5 percent — received about half that sum. Two businesses got the maximum $10 million loan allowed under the Paycheck Protection Program: Ferguson Electric and the Buffalo Medical Group. New Era Cap, widely criticized by public officials earlier this year for taking PPP money then laying off 117 employees, received the third-largest loan, $8.4 million. Other[...]