These San Jose Nonprofits Received The Most PPP Loan Money

Campbell CA

04 August, 2021

6:50 PM

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By Tran Nguyen, San Jose Spotlight August 3, 2021 The federal Paycheck Protection Program awarded roughly $122 million to more than 360 nonprofits in San Jose this past year to weather the pandemic, according to recent data from the Small Business Administration. As COVID-19 shuttered social gatherings and in-person services, local nonprofit leaders said the loans were vital to prevent layoffs and cuts to programming. "Getting the loan… and having it forgiven (was) helpful," said Deanna Chevas, administrative manager of Silicon Valley Bicycle Coalition. "We're in good financial position now because of the PPP loan and our donors." Businesses and nonprofits can use PPP funding to cover payroll costs, mortgage or rent payments, utilities or worker protection costs related to COVID-19, according to the SBA. The federal program supported at least 11,231 nonprofit jobs in San Jose, as 97% of all loan monies went to retaining employees, the data shows. In comparison, companies and businesses in San Jose received more than $2 billion in PPP loans, with full service restaurants getting the most money. About 30 local nonprofits—including clinics, schools and places of worship—received more than $1 million in loans. That totals approximately $69 million and accounts for more than half of all approved loans to San Jose nonprofits. About 40 organizations received between $350,000 and $1 million. More than 80% of all approved loans were under $350,000. The Silicon Valley Bicycle Coalition applied twice before receiving a PPP loan, Executive Director Shiloh Ballard told San José Spotlight. The group had to lay off some workers and cut back on programs at the beginning of the pandemic. All employees took a pay cut or reduced hours, Chevas said. The organization has since brought workers back with the PPP money. It received roughly $300,000 through two loans to retain 11 workers, data shows. "It's really been a roller coaster," Ballard said. Momentum for Health, Foothill Health Center (now Bay Area Community Health), and Catholic Charities of Santa Clara County received the three highest payouts for nonprofits in the city. They preserved 1,285 jobs collectively, according to the data. K-12 schools received the most PPP money out of all industries, followed by places of worship— $21 million and $11 million in total, respectively. As of July 1, the SBA has forgiven almost half of all loans to San Jose nonprofits, according to the data. Here's a look at the 10 nonprofits that received the most PPP assistance in San Jose. All organizations on the list either did not respond to requests for comment or were not immediately available for comment. Momentum for Health—mental health services Loan amount: $7,852,005 Jobs: 450 Amount forgiven (includes any accrued interest): Not available Foothill Health Center (Bay Area Community Health)—community health center Loan amount: $6,290,700 Jobs: 355 Amount forgiven (includes any accrued interest): $6,363,086 Catholic Charities of Santa Clara County—social services organization Loan amount: $4,899,900 Jobs: 480 Amount forgiven (includes any accrued interest): Not available Center for Employment Training—trade school Loan amount: $4,757,852 Jobs: 475 Amount forgiven (includes any accrued interest): $2,687,326 Indian Health Center of Santa Clara Valley—health clinic Loan amount: $4,377,300 Jobs: 254 Amount forgiven (includes any accrued interest): $4,426,110 Presentation High School—private high school Loan amount: $3,800,000 Jobs: 114 Amount forgiven (includes any accrued interest): $1,816,027 Across The Bridge Foundation (Downtown College Prep)—charter school Loan amount: $2,836,800 Jobs: 166 Amount forgiven (includes any accrued interest): Not available Accion Opportunity Fund—financial services Loan amount: $2,556,948 Jobs: 124 Amount forgiven (includes any accrued interest): Not available The Foundation for Hispanic Education—charter schools Loan amount: $2,505,358 Jobs: 91 Amount forgiven (includes any accrued interest): $1,420,528 Second Harvest of Silicon Valley—food bank Loan amount: $2,500,000 Jobs: 211 Amount forgiven (includes any accrued interest): $2,527,603 Contact Tran Nguyen at [email protected] or follow @nguyenntrann on Twitter. San José Spotlight is the city's first nonprofit news organization dedicated to independent political and business reporting. Please support our public service journalism by clicking here.