Chelsea, MI — PPP Loan Data

Chelsea, Michigan received 418 Paycheck Protection Program loans totaling $41.3M. The average loan in the city was $98,775 — above the national program average of approximately $67,000.

98.1% of loans in Chelsea — totaling $38.3M — received SBA forgiveness. Forgiveness required borrowers to demonstrate that funds were used for qualifying expenses and that they maintained employee headcount and compensation levels during the covered period.

Among the largest disclosed recipients in Chelsea were HATCH STAMPING COMPANY, LLC ($10,000,000), SHERIDAN BOOKS INC ($3,204,643), and CHELSEA LUMBER COMPANY ($1,659,000).

The most active industry sector in Chelsea was Accommodation and Food Services with 27 loans worth $3.9M, followed by Residential Building Construction (27 loans).

Applicants in Chelsea reported retaining 3,941 jobs through the program. These figures are self-reported and were not independently verified by the SBA. The majority of loans in this city — those under $150,000 — have borrower names withheld under FOIA Exemption 6.

Chelsea is part of Michigan, which received a total of thousands of PPP loans during the program period. City-level data is based on the borrower's self-reported city name; some variation in spelling may cause minor undercounting. See the methodology page for more detail on data limitations.