Manufacturing

Businesses and organizations in the Manufacturing industry (NAICS code 3339, part of the Manufacturing sector) received 14,453 PPP loans totaling $2.45B during the COVID-19 pandemic.

The average loan for this industry was $169,547 — above the national PPP average of approximately $67,000. This reflects the relatively large size of many businesses in this sector, which tend to have higher payroll costs and more employees.

92.9% of loans in this industry were forgiven — totaling $2.41B. 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 THE HILLIARD CORPORATION of ELMIRA, NY ($8,854,000); FAIRBANK SCALES INC. of KANSAS CITY, MO ($8,031,000); and MI-JACK PRODUCTS, INC. of HAZEL CREST, IL ($7,273,900).

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 3339 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.