Manufacturing

Businesses and organizations in the Manufacturing industry (NAICS code 3363, part of the Manufacturing sector) received 4,096 PPP loans totaling $1.47B during the COVID-19 pandemic.

The average loan for this industry was $358,817 — 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.

95.2% of loans in this industry were forgiven — totaling $1.44B. 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 FISHER %26 COMPANY of ST. CLAIR SHORES, MI ($10,000,000); HATCH STAMPING COMPANY, LLC of CHELSEA, MI ($10,000,000); and PRIDGEON & CLAY, INC. of GRAND RAPIDS, MI ($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 3363 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.