Nearly 6,300 Texas-based companies received federal government loans worth more than $ 1 million this spring, representing a significant injection of public funds into the state as the federal government strove to keep the economy afloat.
Of that amount, nearly 400 Texas companies received loans ranging from $ 5 million to $ 10 million, according to data released Monday by the Trump administration.
Companies participating in what government officials called the Paycheck Protection Program included a large number of well-known restaurant groups: the trouble Luby’s chain of cafeterias; Pappas Restaurants, which is the parent company of Pappadeaux Seafood Kitchen and Pappasito’s Cantina; Pei Wei Asian Dinner; Rosa Coffee and Tortilla Factory; and TGI Friday. Each of those restaurants said the loans allowed them to keep 500 jobs.
Other notable recipients included the Alamo Drafthouse Cinema chain and the Houston Livestock Show and Rodeo. Authorities called off the rodeo midway through this year’s event in March at the start of the COVID-19 outbreak.
But the array of businesses receiving loans has crossed virtually every segment of the Texas economy. The data included auto dealerships, hundreds of nonprofits, churches, oil and gas industry support companies, medical offices, zoos, law firms, and colleges.
Many remarkable Texan institutions were also present. Companies that received at least $ 1 million in PPP loans included El Paso’s Lucchese cowboy boot company, Mi Tierra Mexican restaurant in San Antonio, Billy Bob’s Texas from Fort Worth, Camp Longhorn from Burnet. , the First Baptist Church of Dallas and the Colonial Country Club of Fort Worth, which was the site of a much-debated PGA tournament last month.
Monday’s post is the most comprehensive list to date of businesses and nonprofits that have received money from the Paycheck Protection Program. Businesses were allowed to apply for the loans if they were negatively affected by the coronavirus pandemic. If business owners comply with federal mandates – namely, retain staff – taxpayer-funded loans will turn into grants and will not need to be repaid.
In total, the federal government disclosed the names of 52,150 Texas businesses and nonprofits that received the loans. Almost 46,000 of these loans went to businesses or organizations that received less than $ 1 million.
Many current and former politicians and officials have also obtained PPP loans.
KXAN noted earlier Monday that Democratic candidate Christine Mann’s campaign
Like the Dallas Morning News Previously reported, Republican US Rep. Roger williams, which represents the 25th congressional district, received a PPP loan for its car dealership. The new information clarified that the sum was between 1 and 2 million dollars.
Kathaleen Wall, who is locked in a Republican runoff for the 22nd District of Texas, has a stake of between $ 5 million and $ 25 million in biopharmaceutical company Hope Biosciences, according to the financial disclosure of its candidate. This company received between 150,000 and 350,000 dollars in PPP.
Dallas Republican candidate Genevieve Collins, who is running to overthrow the US representative. Colin Allred in the 32nd Congressional District, said on it candidate financial information that she is an employee of her family’s company, IStation, an education technology company. This company has obtained between 2 and 5 million dollars of PPP funds.
Rep. the United States Chip Roy, an Austin Republican who represents the 21st Congressional District, reported that his wife owns between $ 50,000 and $ 100,000 of the fracking sand company Atlas Sand. This company received between 2 and 5 million dollars from the government. Roy’s office contacted the Tribune with a statement about the loan.
“My wife and I acquired a fractional stake in Atlas Sand Co. before I entered Congress, and neither she nor I have any decision-making power in any of its financing or operating decisions,” said Roy. “Assuming the company is fully qualified for the loan, as have over 4 million other businesses across the country, then it serves the intended purpose.
Related, I voted for the TRUTH, written by my friend, colleague and co-author of the Paycheck Protection Flexibility Act, Democratic Representative Dean Phillips, to increase transparency and accountability for small businesses that have taken out PPP loans, ”he added. “Moreover, it also highlights one of the reasons. I introduced bipartisan legislation (the TRUST In Congress Act) requiring members of Congress, along with their spouses and children, to enter into blind trusts for their tenure in Congress. “
There is also Farouk Systems, maker of the Chi straightener. Company founder Dr. Farouk Shami made an unsuccessful offer for the 2010 nomination for Democratic governor of Texas. This company has received between $ 5 and $ 10 million in government assistance.
Two branches of Planned Parenthood, the Houston-based Planned Parenthood Gulf Coast and the Dallas-based Planned Parenthood of Greater Texas, received between $ 2 million and $ 5 million each.
However, the data is not complete. The Small Business Administration – the branch of the Treasury Department administering the program – has not released information for loans below $ 150,000. Only about 15% of the loans were for $ 150,000 or more.
On Twitter, Jovita Carranza, administrator of the US Small Business Administration says the data “Shows that small businesses of all types and in all industries have benefited from this unprecedented program. “
Data includes companies under private control. Earlier this spring, many publicly traded companies filed their PPP loan information with the Securities and Exchange Commission. During these disclosures, many questions were raised about the spirit of the law.
Big companies like Pizza Inn and Taco Cabana, based in Texas were able to obtain small business loans, thanks to the wording of the CARES Act, the bill that created the program. This language defined a small business as any business with fewer than 500 employees in a given location.
Small business owners have expressed frustration with the process in recent months. In order to avoid a new government bureaucracy, banks have become the clearing houses for claims. Lower priority customers and business owners who do little banking expressed his frustration to be relegated to the back of the pack throughout the distribution process.
Patrick Svitek contributed to this report.
The Texas Tribune will continue to update this story throughout the day.
Disclosure: The Texas Tribune, as a local nonprofit and small business newsroom, applied for and received a Paycheck Protection Program loan in the amount of $ 1,116,626.
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