Texas – Data released by the U.S. Small Business Administration (SBA) shows 378 Paycheck Protection Program loans valued between $5-10 million were given to Texas businesses, 25 of which are located in San Antonio.
Among the San Antonio businesses that received the large payouts are Bill Miller Bar-B-Q, Joeris General Contractors, Mission Pharmacal Company, Our Lady of the Lake University of San Antonio and Thomas J Henry Law.
One business in Boerne, C2 Pipeline Services, and two in San Marcos, Berry Aviation and Caraday Management, also received high dollar loans as part of the PPP.
Data provided by the SBA does not include exact loan amounts given to each business, however, each business listed has been approved by a delegated lender.
In order to be considered for a PPP loan a company affected by COVID-19 must have 500 or fewer employees or “meet the SBA industry size standard if [there are] more than 500 [employees],” according to SBA.gov.
Here is the full list of 378 Texas businesses that requested loans between $5-10 million:
PPP loans are 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. Click here to read more about PPP loan forgiveness.
According to a press release, all loans over $2 million will be automatically reviewed by the SBA.
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.