In response to the Covid-19 pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 27, 2020. Included in the legislation was the Paycheck Protection Program (PPP) that allowed the Small Business Administration (SBA) to issue forgivable loans to small businesses struggling to survive the economic downturn. The SBA PPP loan was designed to help businesses continue to meet payroll until the economy recovered.
There were two loan programs, the PPP loan and the separate Economic Injury Disaster Loan (EIDL) program. The PPP loans were forgivable if they were used for payroll expenses and some related business expenses like rent payments. The EIDL is not forgivable but carries with it a low interest rate of 3.75% payable over 30 years. The first EIDL payment is not due until one year after the loan is given.
The Washington Post, the Center for Public Integrity and several other publications sued the Small Business Administration earlier this year to force the SBA to release the loan data on both the PPP and EIDL loan recipients. Yesterday, the SBA released the loan recipients and amounts of loans across the nation.
In total 5.2 million loans were issued, according to the SBA loan data. The SBA reports that $523 billion in PPP loans were issued. Including the EIDL loans, about $700 billion has been loaned to businesses. About 87% of the loans were for less than $150,000. The SBA was criticized for the loan program because the emergency loans exacerbated the disparity in access to capital for minority businesses and communities.
According to The New York Times, one percent of the loan recipients accounted for 25% of the total PPP money loaned.
El Paso Politics previously made available a list of PPP loan recipients that received over $150,000 on loans. Yesterday’s SBA data release includes those that received less than $150,000 in loan monies and includes the previously unreleased EIDL money.
El Paso Politics compiled the SBA loan data released yesterday. From our database we identified the following:
- In El Paso, $584.1 million in bailout loans were issued.
- There are 6,332 recipients in El Paso.
- The average amount of Coronavirus loans for El Paso was $92,358.
List of El Paso businesses receiving $1 million or more:
- Pizza Properties, $7.16 million
- Vinton Steel, LLC, $3.96 million
- The Garick Group, Inc., $3.68 million
- Outwest Express, LLC, $3.64 million
- Diversified Interiors of El Paso, Inc., $3.22 million
- M&S Group, Inc., $3.02 million
- DA Defense Logistics HQ, LLC, $2.94 million
- Castro Enterprises, $2.55 million
- Casa Ford, Inc., $2.46 million
- Verlander Enterprises, LLC, $2.45 million
- Sratoga Group, LLC, $2.4 million
- EPT Integrity Asset Management, LLC, $2.34 million
- Border Recapping LLC, $2.25 million
- Gustavo Jimenez, Inc., $2.2 million
- Transnational Express, $2.18 million
- Viscount Properties III, LLC, $2.17 million
- ZTEX Construction, Inc., $2.16 million
- Argentum Recycling, Inc., $2.14 million
- El Paso Trade School, Inc., $2.12 million
- Excel Garment Manufacturing, LTD., $2 million
- Sky Transportation Services, Inc., $1.94 million
- Talk 4 Less Wireless Communications, LLC, $1.92 million
- Diocese of El Paso, $1.87 million
- Quickstudy Learning Centers, Inc., $1.74 million
- Project Vida Health Center, $1.66 million
- Seisa Medical, Inc., $1.64 million
- Dharma Home Care, Inc., $1.6 million
- Spectrum Relocation Group, Inc., $1.59 million
- Heller Ford Sales, Inc., $1.59 million
- Agave Transportation Services, Inc., $1.56 million
- Casa Nissan, Inc., $1.54 million
- East El Paso Physicians Medical Center, LLC, $1.53 million
- Funk and Company, $1.53 million
- Trutemps, Inc., $1.53 million
- Rio Grande Urology, PA, $1.53 million
- Lone Star Apple, LLC, $1.49 million
- Hoy Family Auto, Inc., $1.48 million
- RJ Border International, LP, $1.48 million
- Arm Healthcare, LLC., $1.48 million
- Hospice of El Paso, Inc., $1.43 million
- Polymerica Limited Company, $1.43 million
- Bowen Mach & Fabricating, Inc., $1.42 million
- EPMED, PA, $1.41 million
- Dick Poe Motors, LP, $1.37 million
- Ray Pena McChristian, P.C., $1.36 million
- Mountain Star Sports Group, LLC, $1.36 million
- Kemp Smith, LLP, $1.36 million
- AMC Bus, Inc., $1.35 million
- Russell Transport, Inc., $1.33 million
- Rudolph Chevrolet, $1.32 million
- Mission Chevrolet, LTD., $1.3 million
- Tri-State Ventures, LLC, $1.27 million
- Crawford Buick GMC, Inc., $1.25 million
- Mesilla Valley Biofuels, LLC, $1.25 million
- Mid-West Textile Co., $1.22 million
- El Paso Paper Box, Inc., $1.22 million
- Mimbela Contractors, Inc., $1.21 million
- Valor Personal Assistance Service, Inc., $1.2 million
- Centro de Salud Familiar La Fe, Inc., $1.18 million
- Odessa Enterprises, Inc., $1.18 million
- Southwest Hyundai, L.P., $1.17 million
- Paso del Norte Children’s Development Center, $1.16 million
- Venegas Engineering Management and Construction, Inc., $1.16 million
- Aliviane, Inc., $1.13 million
- Amo Enterprises, Inc., $1.12 million
- Supreme Laundry & Cleaners, Inc., $1.1 million
- Project Amistad, Inc., $1.1 million
- Tabet Enterprises, Inc., $1.09 million
- Enrique Mata Sr. Drywall, LLC, $1.08 million
- Maintenance Unlimited, Inc., $1.07 million
- Ireme Trujillo dba Care Home Health Agency, $1.07 million
- Weaver-Bailey Contractors, Inc., $1.06 million
- Howl Transporation, LLC, $1.05 million
- Spectrum Imaging Technologies, Inc., $1.05 million
- Plastic Molding Technology, Inc., $1.05 million
- Dick Poe Dodge, LP, $1.04 million
- Amaru Motors 3, LLC, $1.03 million
- Management and Engineering Technologies International, Inc., $1.03 million
- ECM International, Inc., $1.02 million
- Scott, Hulse, Feuille, Finger & Thurmond, P.C., $1.01 million
- Urgent Care Home Health, Inc., $1 million
- Centro San Vicente, $1 million
Other notable El Paso businesses:
- El Paso Country Club, $771,500
- Abundant Living Faith Center Church, Inc., $725,100
- Barnet Harley Davidson, L.P., $623,400
- L&J Café, $562,575
- St. Clement’s Parish School, $535,800
- Diocesan Migrant & Refugee Services, Inc., $471,700
- Loretto Academy in El Paso, $452,600
- Ardovinos Wine Gourmet & Gifts, Inc., $450,600
- Taco Chinampa, $427,013
- YMCA of El Paso, $421,142
- Cathedral High School, $415,500
- Scherr & Legate, PLLC., $398,700
- Sanders/Wingo Advertising, Inc., $376,000
- La Fe Preparatory School, Inc., $370,502
- Currey Adkins, LP., $365,000
- Project Vida, $326,200
- El Paso Sports Commission, $143,100
- El Paso Zoological Society, $62,703
- El Paso Pro-Musica, $44,686
- El Paso Matters (Bob Moore), $15,800
The smallest loans issued:
- Autos Tommy, $105
- Rico Sanchez Tart, $300
- Nice and Clean Professional Cleaning Services, $375
- Anthony Ireland, $384
- Fun Cuts 4 Kids, LLC., $400
- Massage Matters, $418
- Tower Motel, $596
- Veronica Beltran, $500
- SNB Income Tax & Financial Services, $677
- Ricardo Sigala & Sons, Inc., $700
El Paso Politics is considering making our database available for the community to search and analyze the data. We welcome input from our readers to see if this is worthwhile and whether sufficient readers would be interested in using our database for research purposes.
Thank you for gathering this information.
I have submitted an Open Records Request asking for a listing of local businesses that received CARES Act funding from the city. My belief is that we will find some of the same folks on the list you presented. I also find it interesting that the businesses that filed a lawsuit to override Judge Samaniego’s order received millions of dollars and they were not small businesses.
I think it’s interesting to see this list. I’m wondering why some of the smallest business only received less than $500. How is this decided? I’m curious to know if that actually helped them stay in business or pay their employees.