Acme United Corporation announced on June 16 that its Paycheck Protection (PPP) loan of $3,508,047 has been fully forgiven by the Small Business Administration, and that payment was remitted by the SBA to Acme United’s lender, HSBC Bank USA, NA, on June 9, 2021. Walter Johnsen, chairman and chief executive officer of Acme United, said “We appreciate the support of both HSBC and the SBA in extending the PPP loan to Acme United last year and the forgiveness of the loan.

Beginning in March 2020, Acme United encountered numerous business and operational uncertainties resulting from the COVID-19 pandemic. The PPP loan was a key factor in enabling Acme United to successfully meet the significant challenges that resulted from these uncertainties, including our ability to avoid laying off any of our employees during the pandemic.”

Source: ACME