WILLITS, 8/5/20 — In March, Congress handed the Coronavirus Help, Aid, and Financial Safety (CARES) Act, which in flip created the Payroll Safety Program (PPP), a course of for accepted banks to offer expedited loans to companies, with nearly all of the funds being forgivable — and although nearly all of loans have been made, loan purposes are nonetheless accessible by way of August Eight to companies massive and small, together with right here in Mendocino County. You may be eligible in case you are a enterprise proprietor, sole proprietor, or unbiased contractor that was working previous to the pandemic.
Up to now lots of of Mendocino County companies have acquired federal loans by way of the PPP within the final a number of months. The names of recipients and loan quantities had been launched to the general public in July, 2020 together with the names of all companies receiving over $150,000 in loans, and we’ve compiled an inventory of native companies which acquired such loans (see under). A lot of those massive loans are forgivable — which means that portion gained’t should be paid again — if used in direction of payroll or different specified bills.
Among the largest loans and extra outstanding native companies to obtain authorities assist had been, in no explicit order: Manufacturing unit Pipe, Willits Redwood Firm, Inc., Little River Inn, Navarro Vineyards, Spare Time Provide, Thurston Auto Plaza, Strong Waste of Willits, Sherwood Valley On line casino, Mendo Mill and Lumber Co., Broiler Steakhouse, Geiger’s Lengthy Valley Market, Black Oak Espresso Roasters (Espresso Critic), and the Mendocino Coast Botanical Gardens, to call just a few. Non-profits and neighborhood organizations such because the Anderson Valley Well being Middle, Manzanita Companies, Inc., the Ford Street Undertaking, North Coast Alternatives, and the Rural Communities Housing Improvement Undertaking additionally acquired funds. The biggest loan went to Mendocino Neighborhood Well being Clinic.
The deadline for purposes has been prolonged till August Eight or till funds are exhausted, and for small companies concerned with this system, West Enterprise Improvement Middle is providing help, and quite a few native banks are expediting the processing of purposes.
The PPP program requires candidates to be processed by way of accepted lenders, which regionally embody Financial savings Bank of Mendocino County, Redwood Credit score Union, Tri Counties Bank, Umpqua Bank, and others. West Firm has additionally put collectively an inventory of assets to help native companies throughout the pandemic, together with webinars with advisors protecting find out how to navigate the loan forgiveness program, which some small enterprise house owners have struggled with as the method has modified quite a few instances. Particular person proprietors and unbiased contractors can even apply for this system.
The Mendocino Voice has compiled an inventory of the companies which acquired loans of between $150,000 and $5,000,000 throughout the first spherical of purposes, organized by location, in a spreadsheet under. The names of native companies receiving smaller quantities in loans had been additionally made public thanks to a Freedom of Data Act request, and might be discovered at this hyperlink (statewide knowledge). Purposes for this system are submitted and processed by way of native banks, and Congress has prolonged the deadline for purposes from the unique finish date of June 31 till August 8, 2020 (extra info right here).
Of the 140 companies granted a loan in Mendocino County, 73 are listed as firms, 16 are LLCs (restricted legal responsibility firm), 15 are non-profit organizations, 11 are sole proprietorships, 15 are S firms, 5 are partnerships, one belief, two are skilled associations, one is a co-operative, and one is an ESOP (worker owned stock plan). In complete, 65 listed their enterprise handle as in Ukiah, 21 as Fort Bragg, and 9 as Willits. The information included a column for “jobs retained,” which not all organizations stuffed out. Nonetheless, for those who did, the sum complete of jobs claimed to be saved was 7,369.
Out of 140 companies, 16 had been listed as owned by a lady, 40 had been listed as owned by a person, and 84 didn’t checklist something. Three claimed to be owned by veterans, 13 listed “non veteran,” and 123 didn’t reply. As to race, 110 individuals didn’t provide info, 28 individuals answered white, one enterprise proprietor was listed as “Hispanic,” and one as “American Indian/Alaskan Native.” Nonetheless, not all enterprise house owners supplied info for all questions on the applying, and this checklist doesn’t embody info for organizations which acquired loans for quantities lower than $150,000.
Nationally, details about who acquired the loans has been the supply of some controversy, as the particular names of corporations acquired loans weren’t instantly made public, however as an alternative solely launched after congressional strain and lawsuits from information organizations just like the Middle for Public Integrity— after which quite a few corporations that had spoken out in opposition to this system or misrepresented their companies to be able to apply had been discovered to have acquired funding.
Beneath you could find the entire checklist of Mendocino County companies that acquired funds over $150,000 quantity. The checklist of loan recipients for smaller quantities might be discovered right here. Because the loans have been dispersed throughout ongoing shelter-in-place orders, some companies selected to make use of the funds to maintain workers on payroll though their companies may not have been working.
See the database
Extra info might be discovered by scrolling to the precise and left, and up and down.