Machinery, Equipment, and Supplies Merchant Wholesalers

Businesses and organizations in the Machinery, Equipment, and Supplies Merchant Wholesalers industry (NAICS code 4238, part of the Wholesale Trade sector) received 42,437 PPP loans totaling $5.50B during the COVID-19 pandemic.

The average loan for this industry was $129,698 — 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.

91.1% of loans in this industry were forgiven — totaling $5.37B. 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 UNICAL AVIATION INC. of WALNUT, CA ($10,000,000); AK HUNT CAPITAL FINANCE LLC of PEWAUKEE, WI ($9,975,000); and GOSIGER HOLDINGS, INC of DAYTON, OH ($9,676,700).

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 4238 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.