Earlier this yr, in response to catastrophic job losses brought on by the onset of the coronavirus pandemic and the ensuing dire want for financial assist, the federal authorities issued greater than $500 billion in forgivable PPP loans, a program that was authorized by Congress as a part of the $2 trillion CARES Act.
The federal authorities launched detailed data this week concerning this system after it was sued by 11 information organizations, NBC Information amongst them. The New York Times called the data “the primary full accounting of how federal cash was spent by way of this system.”
The Paycheck Safety Program got here beneath hearth within the spring when it was found that some giant companies had acquired loans, companies just like the Shake Shack and Nathan’s Well-known restaurant chains (each of which returned their loans), in addition to spiritual organizations, which, of their protection, employed hundreds of lecturers.
Whereas the PPP cash is technically a mortgage, “Paycheck Safety Program (PPP) debtors could also be eligible for mortgage forgiveness if the funds had been used for eligible payroll prices, funds on enterprise mortgage curiosity funds, lease or utilities throughout both the 8- or 24-week interval after disbursement,” according to the Small Business Administration.
The data released this week contains particular particulars on who, precisely, bought the cash, how a lot they bought, and what number of workers had been anticipated to learn from the loans. It additionally included areas, making it simple to interrupt down regionally.
In line with the Small Enterprise Administration, 55,823 San Diego County companies, faculties, nonprofits and spiritual organizations acquired $6.1 billion in PPP loans. The overwhelming majority of that quantity, $4.Four billion, went to 7,746 native companies, which all bought loans in extra of $125,000.
Here’s a full checklist of companies, organizations and teams situated within the San Diego space that bought a PPP mortgage from the Small Enterprise Administration of $150,000 or extra, as much as $10 million. This doesn’t embrace EIDL cash or PPP loans beneath $150,000:
In line with the U.S. Census Bureau, there have been 86,070 employers within the county in 2018, the newest yr for which figures had been obtainable.
These 55,823 corporations employed 534,417 individuals, in accordance with the SBA knowledge. Since San Diego had about 1.Three million staff in 2018, practically 2 in 5 had been affected by the distribution of the PPP loans in San Diego.
Seven native corporations acquired loans of $10 million, the most important on supply by way of the PPP program. Three of these went to restaurant operations: Islands Eating places, the Cerca Trove Restaurant Group and Rubio’s Eating places, which, notably, filed for bankruptcy in October.
The San Diego County $10 million membership is rounded out by the Kleinfelder Group, an engineering consulting and design group; Epsilon Methods, a protection contractor; Hospitality Workforce Members, an employment providers firm; and the Wis Worldwide company, a list service for retail institutions.
All the companies on the high listed themselves as employers of 500 individuals, aside from Hospitality Workforce Members, which registered as an employer of 442 staff.
Citing the rear in San Diego was Bounds Insured, of Fallbrook, which acquired a mortgage of simply $59.
In between the most important and smallest loans are a who’s who of San Diego, all the pieces from the Del Mar Thoroughbred Membership to the Rock Church to the Outdated Globe theater to George’s on the Cove. Here’s a checklist of entities which have model recognition in San Diego, all of which acquired loans of $1 million or extra:
| $6,830,900 | THE BRIGANTINE RESTAURANT GROUP | 500 |
| $6,638,674 | BARTELL HOTELS | 500 |
| $6,419,800 | TAYLOR-LISTUG, INC. [Taylor Guitars] | 454 |
| $5,533,880 | PROCOPIO, CORY, HARGREAVES & SAVITCH LLP | 258 |
| $5,427,900 | URBAN PLATES, LLC | 204 |
| $4,862,000 | [TONY] ROBBINS RESEARCH INTERNATIONAL INC. | 267 |
| $4,713,700 | 22ND DISTRICT AGRICULTURAL ASSOCIATION [COUNTY FAIR] | 213 |
| $4,667,100 | FRANCIS PARKER SCHOOL | 287 |
| $4,390,700 | HOEHN MOTORS INC. | 284 |
| $4,387,000 | SAN DIEGO CONVENTION CENTER CORPORATION, INC. | 484 |
| $4,351,900 | LA JOLLA COUNTRY DAY SCHOOL | 223 |
| $4,200,165 | LA JOLLA BEACH AND TENNIS CLUB PARTNERS, L.P. | – |
| $3,783,215 | CASINO PAUMA | 360 |
| $3,742,600 | ST PAUL’S EPISCOPAL HOME, INC. | 399 |
| $3,687,858 | BURGER LOUNGE OF AMERICA, LLC | 478 |
| $3,580,700 | CATHOLIC SECONDARY EDUCATION | 216 |
| $3,261,100 | WALTER ANDERSON PLUMBING | 185 |
| $3,211,587 | THE SAN DIEGO SYMPHONY ORCHESTRA ASSOCIATION | – |
| $3,025,000 | SAN DIEGO ROCK CHURCH | 330 |
| $2,866,450 | OLD GLOBE THEATRE | 148 |
| $2,842,700 | US GRANT HOTEL SAN DIEGO, LLC | 280 |
| $2,814,017 | DEL MAR THOROUGHBRED CLUB | 322 |
| $2,802,200 | SANTA FE CHRISTIAN SCHOOLS | 230 |
| $2,719,565 | ST. VINCENT DE PAUL VILLAGE, INC. | 288 |
| $2,584,945 | CALIFORNIA WESTERN SCHOOL OF LAW | 234 |
| $2,560,800 | SAN DIEGO BLOOD BANK | 305 |
| $2,555,000 | OCEANS ELVEN CASINO | 343 |
| $2,255,500 | GOMPERS PREPARATORY ACADEMY | 160 |
| $2,230,000 | STEELE CANYON GOLF CLUB | 375 |
| $2,217,000 | THE UPPER DECK COMPANY | 163 |
| $2,215,200 | MODERN TIMES DRINKS, INC. | – |
| $2,084,203 | BELMONT PARK ENTERTAINMENT LLC | 428 |
| $2,082,042 | CAL STATE UNIV SAN MARCOS CORPORATION | 319 |
| $1,976,115 | THE SUPER DENTISTS, INC. | 220 |
| $1,906,100 | INJURED MARINE SEMPER FI FUND | 164 |
| $1,875,000 | KING/CHAVEZ ACADEMY OF EXCELLENCE | 200 |
| $1,863,075 | PECHANGA RESORTS INCOPORATED | 262 |
| $1,836,700 | ALL PRO BAIL BONDS INC | 124 |
| $1,830,695 | USS MIDWAY MUSEUM | 190 |
| $1,779,100 | BILL HOWE PLUMBING, INC. | 130 |
| $1,774,600 | GOLDEN ACORN CASINO AND TRAVEL CENTER | 207 |
| $1,769,200 | MATER DEI CATHOLIC HIGH SCHOOL | 112 |
| $1,751,300 | MOSSY AUTOMOTIVE GROUP, INC. | – |
| $1,707,800 | BROADWAY TYPEWRITER CO. INC | 182 |
| $1,625,000 | SAMMY’S WOODFIRED PIZZA | – |
| $1,578,000 | VIETNAM VETERANS OF SAN DIEGO | 185 |
| $1,543,652 | KAHOOTS | – |
| $1,524,900 | GEORGE’S AT THE COVE, INC | – |
| $1,524,600 | LAWRENCE FAMILY JEWISH COMMUNITY CENTERS | 135 |
| $1,519,400 | CATHOLIC CHARITIES DIOCESE OF SAN DIEGO | 144 |
| $1,518,700 | RANCHO COMMUNITY REFORMED CHURCH | 267 |
| $1,476,202 | URBAN CORPS OF SAN DIEGO COUNTY | 280 |
| $1,460,000 | HORIZON CHRISTIAN FELLOWSHIP RANCHO SANTA FE | 130 |
| $1,458,000 | LINFIELD CHRISTIAN SCHOOL | 140 |
| $1,431,800 | HAY HOUSE, INC. | 25 |
| $1,361,400 | THE LEARNING CHOICE ACADEMY | 106 |
| $1,359,200 | BETTER BUZZ COFFEE COMPANY | 253 |
| $1,279,356 | SAN DIEGO COMIC CONVENTION | 82 |
| $1,276,900 | CHRISTIAN UNIFIED SCHOOLS OF SAN DIEGO | 168 |
| $1,250,000 | GIRL SCOUTS SAN DIEGO-IMPERIAL COUNCIL I | |
| $1,241,000 | HELEN WOODWARD ANIMAL CENTER | 169 |
| $1,224,400 | ST. AUGUSTINE’S SCHOOL OF SAN DIEGO | 69 |
| $1,221,800 | SAN DIEGO SOCIETY OF NATURAL HISTORY | 202 |
| $1,185,200 | ACADEMY OF OUR LADY OF PEACE | 86 |
| $1,158,000 | SINGING HILLS GOLF RESORT | 190 |
| $1,120,000 | POWER BAIL BONDS | 62 |
| $1,096,850 | RANDALL LAMB ASSOCIATES, INC. | 55 |
| $1,062,100 | J PUBLIC RELATIONS, INC. | 49 |
| $1,061,112 | TACOS EL GORDO DE TIJUANA BC INC | 112 |
| $1,051,800 | CALIFORNIA PROTON THERAPY CENTER, LLC | 52 |
| $1,038,300 | LOCAL MEDIA SAN DIEGO [Z90.3, 91X MAGIC 92.5, 100.7 BIG FM] | 76 |
| $1,034,365 | EASTLAKE COMMUNITY CHURCH OF CHULA VISTA | 122 |
| $1,022,193 | SAN DIEGO COASTER COMPANY LP [BELMONT PARK AMUSEMENT RIDES]] | 228 |
— to www.nbcsandiego.com
The post San Diego Got $6 Billion in PPP Loans. Who Got Them? – NBC 7 San Diego appeared first on Correct Success.
source https://correctsuccess.com/loans/san-diego-got-6-billion-in-ppp-loans-who-got-them-nbc-7-san-diego/
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