Troy, MI — PPP Loan Data

Troy, Michigan received 4,717 Paycheck Protection Program loans totaling $817.7M. The average loan in the city was $173,349 — above the national program average of approximately $67,000.

95.4% of loans in Troy — totaling $800.1M — 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 Troy were ICONMA, L.L.C. ($10,000,000), BENESYS, INC. ($10,000,000), and CONTINENTAL CAFE HOLDINGS, LLC ($10,000,000).

The most active industry sector in Troy was Legal Services with 241 loans worth $48.0M, followed by Accommodation and Food Services (236 loans).

Applicants in Troy reported retaining 81,188 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.

Troy 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.