Coronavirus Relief Loans In Boulder: Where PPP Money Went

Boulder CO

06 July, 2020

8:59 PM

Description

BOULDER, CO — More than 600 Boulder businesses have received Paycheck Protection Program, or PPP, loans to help pay their employees during the coronavirus pandemic. PPP loans were established as part of the federal government's CARES act, and are similar to grants: they will be forgiven as long as businesses keep their employees on their payroll, without cutting their pay. However, the money does not necessarily have to go directly to employees as long as the business keeps paying them — the funds can also be used to pay interest on mortgages, rent and utilities. The U.S. Small Business Administration released data Monday that shows nearly 5 million businesses have received PPP loans totaling more than $521,000,000,000. The U.S. Treasury says that money has supported 51.1 million jobs, as much as 84 percent of America's small business employees. Don't miss the latest news updates in Boulder: Free Boulder Patch Newsletters and Email Alerts | Facebook | Twitter Here's an interactive map that shows which businesses received PPP loans in Boulder: Here are a few local businesses and organizations that accepted PPP funds: PPP between $150K - $300K Back Country Pizza and Tap HouseThe Post Brewing Company BoulderThe Seaweed Bath CompanyPPP between $300K - $1 million The Humane Society of Boulder ValleyInternational Mountain Bicycling AssociationBoulder Shelter for the HomelessPPP between $1 million - $2 million Summit Restaurant DevelopmentTristar Ventures Frasier Meadows ManorPPP between $2 million - $5 million The Kitchen CafeRocky Mountain InstituteNaropa UniversityPPP between $5 million - $10 million Boulder Medical CenterSpectra Logic CorporationGores Vitac HoldingsHere is a complete list of all Colorado businesses who have received PPP loans over $150,000. Tens of thousands more businesses received loans under $150,000. Learn more about PPP loans at the SBA's website here. Editor's Note: The data used in this story came from the Small Business Administration. Since the release of the PPP database, a number of errors related to the loan amounts received by small businesses have been reported. If your business is listed here as receiving the wrong loan amount, email [email protected] so we can make the correction.