More than 700 businesses in Gilroy received loans totaling millions of dollars through the federal Paycheck Protection Program, according to data released July 6 by the Small Business Administration.
TriCal, Inc., a distributor of soil conditioning and fumigation products, received at least $5 million, the largest loan out of all Gilroy businesses. Community Solutions, Head Start and Janesco Enterprises each received at least a $2 million loan, according to the SBA.
The half-trillion-dollar loan program advertised as a lifesaver for the country’s struggling small businesses is again under fire after the SBA released a list containing thousands 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, visit tinyurl.com/ybbv8pdt.
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, visit tinyurl.com/yaoq8lep.
Below are Gilroy businesses and nonprofits that received more than $1 million in loans. 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 percent of the loan, according to the SBA, is used for payroll, it becomes “forgivable.”
• TriCal, Inc.: $5-10 million | Jobs retained: 285
• Community Solutions for Children, Families, and Individuals: $2-5 million | Jobs retained: 324
• Head Start: $2-5 million | Jobs retained: 260
• Janesco Enterprises: $2-5 million | Jobs retained: 500
• American Steel and Stairways: $1-2 million | Jobs retained: 35
• Atlantic Concrete: $1-2 million | Jobs retained: 122
• BBD West: $1-2 million | Jobs retained: 226
• FTU Labor Contractors: $1-2 million | Jobs retained: 157
• Gill Motors (Gilroy Chevrolet): $1-2 million | Jobs retained: 0
• Gilroy Gardens Family Theme Park: $1-2 million | Jobs retained: 171
• Global Mushrooms: $1-2 million | Jobs retained: 116
• Go Kids: $1-2 million | Jobs retained: 146
• Heinzen: $1-2 million | Jobs retained: 104
• Infosoft: $1-2 million | Jobs retained: 78
• Navigator Schools: $1-2 million | Jobs retained: 1
• Noah Concrete Corporation: $1-2 million | Jobs retained: 56
• Odd Fellows – Rebekah Children’s Home of California: $1-2 million | Jobs retained: none specified
• Renn Transportation: $1-2 million | Jobs retained: 89
• South County CDJR: $1-2 million | Jobs retained: 115
• Stars Therapy Services: $1-2 million | Jobs retained: 65
• T&K: $1-2 million | Jobs retained: 325
Editor’s note: The Gilroy Dispatch 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.
