Manufacturing

Businesses and organizations in the Manufacturing industry (NAICS code 3331, part of the Manufacturing sector) received 17,822 PPP loans totaling $1.66B during the COVID-19 pandemic.

The average loan for this industry was $93,035 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

77.7% of loans in this industry were forgiven — totaling $1.55B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include ZEECO, INC of BROKEN ARROW, OK ($10,000,000); UNVERFERTH MANUFACTURING COMPANY, INC. of KALIDA, OH ($10,000,000); and DYNAMIC INDUSTRIES, INC. of NEW ORLEANS, LA ($10,000,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Manufacturing sector — metal, machinery, computer, electrical, transportation, and furniture manufacturing. — businesses in NAICS 3331 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.