PPP pumped $606M into repair and maintenance industry

[caption id="attachment_18081" align="aligncenter" width="1200"] An analysis shows electronics repair and recycling firms received over $600 million in Paycheck Protection Program loans. | Kmpzzz/Shutterstock[/caption] Electronics repair and maintenance businesses received about $606 million in Paycheck Protection Program loans, a sum that includes over $166 million received after Congress allowed certain companies to take a second bite at the PPP apple. E-Scrap News recently updated its analysis of Paycheck Protection Program (PPP) data and its map of recipients. In March 2020, federal leaders first approved PPP, which provided forgivable loans to companies to help them weather the pandemic’s economic disruptions. Then, in December 2020, Congress passed – and President Trump signed – legislation allowing the U.S. Small Business Administration (SBA) to provide a second round of forgivable loans to certain PPP recipients. E-Scrap News last tallied PPP loans in December 2020, just before leaders authorized a second round of PPP support. A new analysis of SBA data released in January shows that electronics repair and maintenance companies received a total of 15,074 loans worth $606,176,332. The following are the breakdowns by type of company:

Consumer electronics repair and maintenance (NAICS code 811211)

1st loans: 4,150 loans worth $140,157,856 (average $33,773). 2nd loans: 1,480 loans worth $59,936,196 (average $40,497). Total loans: 5,630 loans worth $200,094,052 (average $35,541).

Computer and office machine repair and maintenance (NAICS code 811212)

1st loans: 5,550 loans worth $215,384,052 (average $38,808). 2nd loans: 2,043 loans worth $73,966,940 (average $36,205). Total loans: 7,593 loans worth $289,350,992 (average $38,108).

Communication equipment repair and maintenance (NAICS code 811213)

1st loans: 1,295 loans worth $84,522,402 (average $65,268). 2nd loans: 556 loans worth $32,208,886 (average $57,930). Total loans: 1,851 loans worth $116,731,288 (average $63,064). E-Scrap News has created online maps showing who received loans. This map shows electronics repair and maintenance recipients of the first round of PPP loans. Zoom in to see regions in more detail, and click on the individual icons for specifics on the companies that received the payments. The pink cell phone icon represents firms specializing in consumer electronics, the green plug icon represents firms specializing in computer and office machines, and the brown phone receiver icon represents firms specializing in communication equipment. (Story continues below map).  Link to map: https://www.google.com/maps/d/u/0/edit?mid=1pINrmYZOtOqHTAPsmIfPvuOLmoMardSM&usp=sharing This map shows electronics repair and maintenance recipients of the second round of PPP loans (story continues below map). Link to map: https://www.google.com/maps/d/u/0/edit?mid=1CeO_owYttS53oGV2auYF-Mlcbev43x--&usp=sharing The data above is pulled from loans coded using six-digit North American Industry Classification System (NAICS) codes. There is no code specific to electronics recycling; however, many other electronics processors that don't fall under the "repair and maintenance" categories above can be found under codes for "materials recovery facilities" and "recyclable material merchant wholesalers." Resource Recycling, sister publication to E-Scrap News, recently mapped out the materials recovery facilities and recyclable material merchant wholesalers receiving PPP loans. (Disclosure: Resource Recycling, Inc., publisher of E-Scrap News, received a $92,000 PPP loan in April 2020 and a $121,000 loan in February 2021. The company was coded under the NAICS codes for “convention and trade show organizers” and “periodicals publishers.”)

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