Joe Cassese, owner of Cassese’s MVR, stands behind the bar of the well-known restaurant bordering the Youngstown State University campus. Cassese used a Paycheck Protection Program loan of $140,000 to keep his employees working during the viral outbreak.
Upward of 2,600 loans of $150,000 or less through the Paycheck Protection Program, a federal loan endeavor to help keep people employed during the viral outbreak, were given to businesses in Mahoning County.
Companies secured more than $95.8 million in loans that owners / operators used to preserve more than 15,000 jobs, according to data released from the U.S. Small Business Administration.
The Vindicator reviewed the latest data dump by the federal government for Ohio, searching for local companies by community listed in the company’s mailing address.
Others, like North Lima, were reviewed by ZIP code.
That review revealed companies in all corners of Mahoning County, from sole proprietors to nonprofit organizations, took advantage of the program.
YOUNGSTOWN
More than 1,400 loans worth at least $53 million were given to businesses in Youngstown, saving more than 8,400 jobs, according to the data.
The top three loan amounts were $148,600 to Veterans Outreach, a nonprofit organization on Belgrade Avenue, Youngstown, 62 jobs; $146,800 to Austintown Pediatrics Inc. on Javit Court, Austintown, 14 jobs; and $146,360 to Associates in Nephrology Ltd., on Windham Court, Boardman, 16 jobs.
Among the 122 businesses that received at least $100,000 was Cassese’s MVR Inc. on North Walnut Street near the Youngstown State University campus.
Owner Joe Cassese said without the loan help, the well-known restaurant may not have survived.
“We ended up in a situation that without those funds at the time, we would not really have been able to bring the people back to work and keep the people that we did,” Cassese said. “We hoped and prayed we would be eligible for the funds because they were that paramount.”
Cassese said the irony is because restaurants are still suffering badly, they’re still just treading water.
It’s not uncommon on weeknights during what’s normally the 6 p.m. dinner rush for thin crowds of 12 or fewer in the restaurant, he said. Traffic increases on weekends.
When the first round of COVID-19 restrictions were put into place in mid-March, Cassese said he laid off 48 employees, keeping eight on board for carryout. He was able to keep 35 working through most of the summer but has since reduced to 16 employees, and he said he’s “struggling to keep them all scheduled.”
ELSEWHERE
About 430 loans were given in the Canfield area for nearly $15 million. The loans, according to the data, saved nearly 2,400 jobs.
Here, the top three loan amounts were $149,600 to Adam May Inc. on Montgomery Drive, 55 jobs; Profile Energy Inc. on North Broad Street, 15 jobs; and Hometown Produce LTD., on West Main Street, 14 jobs.
There were 33 companies that received at least $100,000.
One hundred-ninety loans were issued in Boardman worth more than $6 million and, in Poland, 148 loans worth $4.6 million, according to the numbers.
In Boardman, a reported 1,050 jobs were saved and Poland, 801.
The top loan in Boardman was $147,000 to Chase Agency Inc., 11 jobs; then $139,500 to Donald A. Dechellis DDS Inc., 17 jobs; and Institute for Motivational Living Inc., 13 jobs.
Ten loans were for at least $100,000.
In Poland, the highest three loan amounts were CBOSS Inc. on Southwestern Run Road, nine jobs; Western Reserve Nursery and Garden Center on Western Reserve Road, 24 jobs; and Poland Veterinary Centre LLC on Clingan Road, 13 jobs. Seven loans were at least $100,000.
In addition:
l 61 loans valued at more than $1.9 million saved a reported 454 jobs in Struthers; Davidson Becker Inc. on Spring Street received the greatest amount, $148,100 to save 41 jobs.
l 61 loans worth more than $1.7 million saved a reported 250 jobs in Austintown. Here, the greatest loan was $143,000 to JC Austintown Inc., on Mahoning Avenue. Zero jobs were reported.
l 30 loans were awarded in Campbell, saving 173 jobs. The top amount of the just more than $1 million given away was $133,100 to HealthRidge Medical Center Inc. on Struthers Liberty Road, 21 jobs.
l 75 loans worth about $3.2 million saved a reported 450 jobs in North Lima. The top amount was $147,785 to Data Com Inc. on Market Street that reported seven jobs saved.
l There were 29 loans in Lowellville worth about $1 million, 223 jobs; 20 loans in Berlin Center worth about $640,000, 91 jobs; 35 loans in Beloit for about $1 million, 202 jobs; 30 loans in Sebring worth about $1 million, 208 jobs; 37 loans in North Jackson for about $1.4 million, 224 jobs; 21 loans in Lake Milton for about $648,000, 142 jobs; 47 loans in New Middletown for about $1.3 million, 237 jobs; and 30 loans in New Springfield for about $1 million, 123 jobs.
Paycheck Protection Program
This was the second release of date by the SBA, which in July disclosed business names, addresses, ZIP codes, business type, demographic data, nonprofit information, name of lender, jobs supported and loan amounts for companies that received loans between $150,000 and $10 million.
Also disclosed was less-detailed information on companies that received loans up to $150,000.
The latest release for the lesser loans, however, disclosed the same type of information as earlier this year for the higher loans. Also, the earlier release for the greater loans were in ranges: $150,000 to $350,000; $350,000 to $1 million; $1 million to $2 million; $2 million to $5 million; and $5 million to $10 million. This disclosure, though, released exact amounts for the higher amount loans.
The program was part of $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act that Congress passed in March to incentivize employers to keep their workers, or if they had been laid off, to get them back working.
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