The half-trillion-dollar loan program advertised as a lifesaver for the country’s struggling small businesses is again under fire after the Small Business Administration on Monday released a list containing hundreds of recipients of the program, revealing that several private equity-backed chains owned by members of Congress and dozens of publicly traded companies and corporations received millions.
The Paycheck Protection Program—a part of the Coronavirus Aid, Relief and Economic Security Act—first drew scrutiny after it quickly burned through its initial $350 billion allocation by helping large public companies secure multi-million dollar loans while several small businesses missed out.
Some publicly traded companies such as Shake Shack gave back the PPP money after public outcry, and the program has since been extended and expanded by the federal government to help more small businesses.
The program has distributed roughly $520 billion through about 4.9 million loans, according to the SBA. Roughly $130 billion still sits unclaimed. Small-business owners have until Aug. 8 to apply for a PPP loan.
To see the full list of recipients that received a loan of at least $150,000 click here.
The SBA also released lists containing the approved loans of less than $150,000 for each state but did not disclose the names of the recipients. To see those lists click here.
Below are Watsonville businesses and nonprofits that received more than $500,000 in loans or were approved for more than one loan. The SBA asked business owners to provide some background information, including how many jobs the loan would help retain and the ethnicity of the owner. If at least 75% of the loan, according to the SBA, is used for payroll, it becomes “forgivable”.
- Monterey Mushrooms: $5-10 million | Jobs retained: 0
- Salud Para La Gente: $5-10 million | Jobs retained: 366 | nonprofit
- Alta Vista Farms LP: $2-5 million | Jobs retained: 418
- Del Mar Food Products Corp: $2-5 million | Jobs retained: No answer
- Dobler and Sons: $2-5 million | Jobs retained: 263
- Elyxir Distributing: $2-5 million | Jobs retained: no answer
- Lakeside Organics: $2-5 million | Jobs retained: 245
- Ortega Berry Farms, LLC: $2-5 million | Jobs retained: 425
- S. Martinelli & Company: $2-5 million | Jobs retained: 326
- Sierra Farms LLC: $2-5 million | Jobs retained: 0
- 72 Hour LLC (Chevrolet of Watsonville): $1-2 million | Jobs retained: 66
- A&I Transportation: $1-2 million | Jobs retained: 0
- California Giant Berry Farms: $1-2 million | Jobs retained: no answer
- Central Coast Energy Services, Inc.: $1-2 million | jobs retained: 68 | nonprofit
- Community Bridges: $1-2 million | Jobs retained: 181 | nonprofit
- Creekside Farms Inc.: $1-2 million | Jobs retained: 193
- Dick Peixoto Company: $1-2 million | Jobs retained: 120
- Golden State Harvesting, Inc.: $1-2 million | Jobs retained: 200
- J.E. Farms, Inc.: $1-2 million | Jobs retained: 122
- La Rosa Tortilla Factory, Inc.: $1-2 million | Jobs retained: 160
- Mar Vista Berry Farms: $1-2 million | Jobs retained: no answer
- Monte Vista Christian: $1-2 million | Jobs retained: 120 | nonprofit
- Plant Sciences, Inc.: $1-2 million | Jobs retained: 415
- Premier Refrigerated Transport, LLC: $1-2 million | Jobs retained: 0
- PV Farming Operations, LLC: $1-2 million | Jobs retained: 206
- Royal Oaks Farms LLC: $1-2 million | Jobs retained: no answer
- Sambrailo packaging: $1-2 million | Jobs retained: 177
- Schmid Thermal Systems, Inc.: $1-2 million | Jobs retained: 85
- Smith & Vandiver Corporation: $1-2 million | Jobs retained: 98
- Spawn Mate Inc.: $1-2 million | Jobs retained: 0
- Tomatero Organic Farms, Inc.: $1-2 million | Jobs retained: 99
- Vasvision Berry Farms LLC: $1-2 million | Jobs retained: 0
- Willoughby Farms, Inc.: $1-2 million | Jobs retained: 110
- Mas Mac, Inc. (McDonald’s): $700k-2 million (over 2 loans) | Jobs retained: 291
- Aggrigator, Inc.: $300k-700k (over 2 loans) | Jobs retained: 29
- 7-Eleven: $300k-700k (over 2 loans) | Jobs retained: 26
- La Princesa: $300k-700k (over 2 loans) | Jobs retained: 85
Editor’s note: The Pajaronian is part of a group of 12 weekly newspapers that did apply for and receive a PPP loan of $1-2 million through Nuz, Inc. in Santa Cruz.
