Who in San Diego Got the $6 Billions Worth of PPP Loans?

by on December 8, 2020 · 5 comments

in Economy, San Diego

NBC7 here in San Diego released a list of the local entities that received loans from the Paycheck Protection Program of the federal government.

The data was just released by the feds after it was sued by 11 news organizations, NBC News among them. The New York Times called the data “the first full accounting of how federal money was spent through the program.”

Released this week, the data includes specific details on who exactly, got the money, how much they got, and how many employees were expected to benefit from the loans. It also included locations, making it easy to break down locally.

The list is very interesting and somewhat surprising when one views the businesses, churches, private schools, and large law firm that received millions in loans.

While the PPP money is technically a loan, PPP borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent or utilities during either the 8- or 24-week period after disbursement, according to the Small Business Administration.

The Program came under fire in the spring when it was discovered that some large corporations had received loans, as well as religious organizations.

From NBC7:

According to the Small Business Administration, 55,823 San Diego County businesses, schools, nonprofits and religious organizations received $6.1 billion in PPP loans. The vast majority of that amount, $4.4 billion, went to 7,746 local businesses, which all got loans in excess of $125,000. …

Seven local companies received loans of $10 million, the biggest on offer through the PPP program. Three of those went to restaurant operations: Islands Restaurants, the Cerca Trove Restaurant Group and Rubio’s Restaurants, which, notably, filed for bankruptcy in October.

The San Diego County $10 million club is rounded out by the Kleinfelder Group, an engineering consulting and design group; Epsilon Systems, a defense contractor; Hospitality Team Members, an employment services company; and the Wis International corporation, an inventory service for retail establishments.

All of the firms at the top listed themselves as employers of 500 people, with the exception of Hospitality Team Members, which registered as an employer of 442 workers.

For the complete list of businesses, organizations and groups located in the San Diego area that got a PPP loan from the Small Business Administration of $150,000 or more, up to $10 million, go here to NBC7 article and scroll down some. Here’s the list of the very top:

Here’s another list of San Diego’s known brands who received good-sized ($1 million +) loans, with some of interest marked in yellow:

There’s lots more. Go to the list.

 

 

{ 5 comments… read them below or add one }

Avatar Will December 9, 2020 at 5:08 am

I wonder if the fed vetted all of these companies to see if they were up to date with their tax payments or if any of the companies are or were defendants in any criminal cases?

The state failed miserably with their unemployment payments, handing out our money willy-nilly to anybody who asked.

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Avatar thequeenisalizard December 9, 2020 at 9:54 am

So, the churches pay NO taxes, but get federally funded loans huh?

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Avatar Chris December 9, 2020 at 5:55 pm

My sister in an Episcopal Priest. I asked her this and she said yes.

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Avatar Will December 9, 2020 at 11:28 am

Good point, but they’re just another non-profit. I saw a bunch of non-profit, non-taxpsying organizations on the list. So what is fair and equitable? They have employees, too.

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Frank Gormlie Frank Gormlie December 9, 2020 at 12:55 pm

We need somebody to research these lists and figure out who else received PPP loans.

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