SAN ANTONIO – The U.S. Small Business Administration (SBA) has released data regarding businesses that applied for Paycheck Protection Program loans and nearly 3,000 San Antonio businesses appear to have requested funds through the program.
The list of organizations that received loans include businesses, nonprofit organizations and educational entities.
Among the businesses that requested the most money in San Antonio are Bill Miller Bar-B-Q, Our Lady of the Lake University and the Law Offices of Thomas J Henry, all of which requested a loan amount between $5 and $10 million.
The data doesn’t specify the exact amounts each company requested.
At least one of the criteria of eligibility for a PPP loan is that a company must have “500 or fewer employees whose principal place of residence is in the United States or are a business that operates in a certain industry and meet the applicable SBA employee-based size standards for that industry,” according to the Federal Register.
Here are some of the notable San Antonio entities who requested PPP loans:
- Archdiocese of San Antonio: $2-5 million
- Haven for Hope: $2-5 million
- Mi Tierra Cafe & Bakery: $2-5 million
- San Antonio Food Bank: $2-5 million
- Wayne Wright LLP: $1-2 million
- Witte Museum: $1-2 million
- Morgan’s Wonderland: $350,000-$1 million
- Planned Parenthood: $350,000-$1 million
- San Antonio Missions Baseball Club: $350,000-$1 million
- San Antonio Museum of Art: $350,000-$1 million
Here is the full list of 2,892 San Antonio businesses that requested loans greater than $150,000:
PPP loans are not made by the SBA but instead made by lending institutions which are then guaranteed by the SBA. The loans must be used for payroll costs, interest on mortgages, rent and utilities to be eligible for full loan forgiveness.
“Borrowers apply to lenders and self-certify that they are eligible for PPP loans. The self-certification includes a good faith certification that the borrower has economic need requiring the loan and that the borrower has applied the affiliation rules and is a small business,” according to a press release. “The lender then reviews the borrower’s application, and if all the paperwork is in order, approves the loan and submits it to SBA.”
All small businesses or non-profit organizations listed in the data released by the SBA have been approved for a PPP loan by a lender but that doesn’t mean the borrower is eligible for the loan.
“All PPP loans are subject to SBA review and all loans over $2 million will automatically be reviewed,” according to the press release. “Because a borrower is listed in the data as having a PPP loan does not mean that SBA has determined that the borrower complied with program rules or is eligible to receive a PPP loan and loan forgiveness.”
Only active loans for more than $150,000 are included in the data, and loans that have been canceled are not included in the data.
The Paycheck Protection Program resumed accepting applications Monday at 8 a.m. in response to the Paycheck Protection Program Extension Act. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020, according to SBA.gov.
SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses, the website states. Click here to read more about PPP loan forgiveness.