Coronavirus Paycheck Protection Loans In Odenton: Who Got Money

ODENTON, MD — As coronavirus spread throughout the country, many companies in Odenton and Severn, as well as nationwide, struggled to survive while they were temporarily out of business. In hopes of saving jobs during the outbreak, the federal government launched an effort to help businesses pay their employees and avoid layoffs.

That aid, called the Paycheck Protection Program, helped save millions of jobs around the country. Now, a list of businesses that received a PPP loan is public.

Most loans were worth less than $150,000, but the U.S. Small Business Administration announced all the companies that were awarded more than that threshold. Altogether, 40 Odenton businesses received loans worth more than that $150,000 mark. Twenty-one Severn companies took home loans that exceeded that checkpoint.

The most notable local businesses to secure a PPP loan were Archbishop Spalding High School, the Annapolis Area Christian School and The Hideaway.

Archbishop Spalding earned a loan worth $2 million to $5 million. The private school credits the loan with saving 180 jobs.

The Annapolis Area Christian School obtained $1 million to $2 million in extra funding. The private K-12 school did not indicate the number of workers protected with the loan.

The Hideaway, a restaurant just west of the MARC train station, won a loan valued between $350,000 and $1 million. The restaurant retained 78 employees with its PPP money.

The earliest a local business received a PPP loan was on April 5 when Powercon Corporation landed a Severn-high $5 million to $10 million. The company, which builds power lines, did not report how many jobs the loan spared.

Odenton's Hogue Enterprises, better known as Grand Rental Events, also secured a loan on April 5. The $150,000 to $350,000 loan helped Hogue save 22 jobs in its party rental business.

The most recent business to get approved was RFM services, an Odenton heating, ventilating and air conditioning company. Its PPP loan was issued on June 26. The $150,000 to $350,000 have saved eight RFM jobs, so far.

Five Severn nonprofits won awards worth more than $150,000, as did one from Odenton. Four of those were church-related enterprises, with Archbishop Spalding High School and the Annapolis Area Christian School being the most recognizable.

Four Severn companies reported saving zero jobs with their PPP loans. That does not mean the businesses laid off workers or closed, however. It just means that they did not directly attribute the retention of any jobs to the loan. No Odenton businesses reported saving zero jobs.

Ferguson Trenching Company kept an Odenton-high 200 workers on staff with its $2 million to $5 million loan. Ferguson's loan was tied for the largest in Odenton.

The Arc of the Central Chesapeake Region says it retained 271 employees, the most in Severn, with its $2 million to $5 million in PPP funding. The nonprofit promotes equity for people with disabilities.

Powercon was the only local businesses received an A list loan, which was worth between $5 million and $10 million. Five area businesses banked a B list loan, valued at $2 million to $5 million. Another five companies won C list loans for $1 million to $2 million. The remaining 50 enterprises scored awards worth between $150,000 and $1 million.

The PPP loans were born on March 27 when the federal government initiated the CARES Act, which aimed to provide economic relief during the coronavirus crisis. The loans are similar to grants. Businesses will only have to repay them if they layoff workers or cut their pay.

Companies do not need to spend the money directly on employee paychecks, however. As long as a business continues paying its workers, the money can be used to pay mortgage interest, rent and utilities

Altogether, more than 5 million American businesses were granted PPP loans. The loans totaled more than $500 million, according to the data released by the small business administration. The loans have supported 51 million jobs, or about 84% of the country’s small business workers.

A list of all the companies in Maryland that earned PPP loans worth more than $150,000 is available here.

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Patch editors Rich Scinto, David Copeland and Elizabeth Janney contributed to this report.

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