Northern Dry Bulk was approved for $513,800 loan under Paycheck Protection Program
Of the 11,91 loans made to industries in the plastic recycling business during the first paycheck protection program, Northern Dry Bulk applied for and was granted a $513,800 loan to cover the salaries of its 46 employees on April 6th, 2020. The average loan to similar companies was $165,179. Norther Dry Bulk was not eligible for the second Paycheck Protection Program loan.
COVID|LaborIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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