Three Fairfield County companies received $10 million loans under the Paycheck Protection Program, the maximum amount available under that Small Business Administration initiative.
Cenveo Worldwide Ltd., a Stamford company that produces and distributes envelopes, labels, and other printed projects, was one such firm. It filed for Chapter 11 bankruptcy in 2018 and presently employs 500 people, according to data released by the SBA.
In addition, a pair of Shelton companies ”“ Monroe Staffing Services and Service Management Group, both of which list 500 employees ”“ received the maximum $10 million. Monroe Staffing is an employment recruiting service, while Service Management Group is part of the janitorial services industry.
Two other Connecticut firms ”“ Day Pitney and Propark Inc., both in Hartford ”“ also received the maximum $10 million. PPP loans are potentially forgivable under SBA guidelines.
The information was made public after the Washington Post and nine other organizations sued the SBA for access to PPP records.
All told, 8,595 Connecticut businesses each received at least $150,000 in loans from the $669 billion PPP program. Nationwide, some 650,000 companies received loans.
