The Small Business Administration recently released data on the Payroll Protection Program loans by community. The Community Gazette reviewed the data for Bethel, Brookfield, Easton, Monroe, Newtown, Redding and Ridgefield to see how our local communities received these funds.
We have chosen not to publish the names of local firms that received program dollars, and instead have focused on the distribution of these funds across our local region.
The SBA chose to divide the data between those firms that received less than $150,000 and firms that received $150,000 to $10 million. They did not provide the same level of detail across both groups. For example, the under $150,000 data set does not include business name for each loan, but does include dollar amount, number of employees named in the program loan, community where the business is located and bank that processed the loan. The over $150,000 group contains the same information except while it provides the individual company name, it divides the loans into five groupings rather than indicate specific loan amount. To calculate loan value by community, we have assigned each grouping an average loan value, except in cases where the actual loan amount is provided.
Newtown firms received the most PPP dollars, over $56 million while Ridgefield had the most loans, with 664.
We also looked at the impact of these loans. Brookfield had the most jobs per $100,000 in loans at 11.9, while Monroe had the fewest, at 6.8. The charts below attempt to provide information for readers to compare how each town has participated in the program and how it has impacted the community.