AUSTIN (KXAN) – For months, it looked like finding out which businesses received taxpayer dollars in the Paycheck Protection Program would never happen.
The federal government initially refused to publish names of businesses receiving the loans, designed to help businesses continue paying employees during the pandemic.
This week, the U. S. Treasury Department published some of the names of the businesses that accepted the PPP loans for more than $150,000. The government has not identified any business names on PPP loans that total less than $150,000.
In Texas, treasury records show 52,151 businesses received loans of at least $150,000. Those businesses reported “retaining” 2,742,960 jobs with those loans.
The government data does not indicate specific loan amounts for each business. The records only show categories of loans, ordered by ranges:
- $5-10 million
- $2-5 million
- $1-2 million
- $350,000-$1 million
The Treasury Department said these loans total 75% of all PPP loans, which equates to five million loans totaling more than $521 billion as of June 30, according to the latest data provided by treasury. Under certain circumstances, the loans could be forgiven by the government.
That means some of the tax dollars the government lent might turn into gifts to the businesses whose loans are forgiven.
California leads the nation in PPP loan totals with $68.2 billion lent since the program went into effect. Texas has lent the second-most with $41.1 billion, New York had the third-highest total with $38.3 billion.
The latest data from treasury shows 3,592 businesses with Austin addresses borrowed between $150,000 and $10 million dollars. The top borrowers in the $5-10 million category are:
|ABC Pest Control, Inc., of Austin|
|Alamo Drafthouse Cinemas Holdings, LLC|
|AM Technical Solutions, Inc.|
|Asphalt Inc., LLC|
|Asure Software, Inc.|
|CSA Service Solutions, LLC.|
|Hopdoddy Burger Bar, Inc.|
|Hospitalists Now., Inc.|
|Ranger Excavating, L.P.|
|Roscoe Properties, Inc.|
|Success Foods Management Group, LLC DBA Torchy’s Tacos|
|Triple Crown Consulting, LLC|
|TurnKey Vacation Rentals, Inc.|
Those borrowers reported retaining 5,831 jobs, according to June 30 U.S. Treasury Department data.
The federal legislation changed the SBA lending rules that traditionally prohibited nonprofits from participating in SBA loan programs. That change allowed churches and businesses connected to religious organizations to borrow PPP money to help meet payroll.
A KXAN analysis of PPP data shows 737 churches and religious administrative entities borrowed PPP money. Data shows eight churches in Houston and Dallas and a Dallas-area Christian television station received loans in the $2-5 million-dollar range.
Those eight entities reported saving nearly 2,500 jobs with the loan dollars.
KXAN’s analysis of the data shows 51 major religious entities and administration offices received PPP loans.
The following Austin religious entities received between $1-2 million, according to the federal data:
- Hill Country Bible Church of Austin
- Shalom Austin
- The Austin Stone Community Church
Executive Pastor of Austin Stone Community Church told KXAN:
“… we are very grateful for the PPP funding in this very uncertain financial time, as it enabled us to retain our employees and continue to mobilize the many volunteers of our church to serve others in our city and the world.”
Messages left for administrators of Shalom Austin and Hill Country Bible Church of Austin were not immediately returned.
Federal data does not show specific loan amounts or the names of religious entities that received less than $150,000.