Metal and Mineral Merchant Wholesalers

Businesses and organizations in the Metal and Mineral Merchant Wholesalers industry (NAICS code 4235, part of the Wholesale Trade sector) received 4,437 PPP loans totaling $1.01B during the COVID-19 pandemic.

The average loan for this industry was $227,009 — 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.

97.7% of loans in this industry were forgiven — totaling $996.6M. 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 A M CASTLE AND CO of OAK BROOK, IL ($10,000,000); HEIDTMAN STEEL PRODUCTS INC. of TOLEDO, OH ($8,867,900); and THE MACOMB GROUP, INC. of STERLING HEIGHTS, MI ($8,297,200).

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 Wholesale Trade sector — selling goods to retailers, industrial, commercial, institutional, or professional business users. — businesses in NAICS 4235 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.