25 San Antonio businesses secured federal pandemic relief loans of $ 5 million or more
Leading companies in San Antonio, including the Bill Miller Bar-BQ chain and the Thomas J. Henry law firm, have taken out loans of $ 5 million or more under a federal government relief program. coronaviruses intended to help small employers.
According to recently released federal records, 25 companies in Alamo City were among 400 Texas companies that borrowed $ 5 million or more under the Paycheck Protection Program, designed to help small businesses keep their paychecks. workers during the pandemic.
Other important local businesses on the list include Buffets LLC, a leading operator of franchised restaurants; Joeris General Contractors, one of the city’s largest construction companies; and Lewis Energy Group, a key player in the Eagle Ford Shale oil and gas field south of San Antonio.
In April, a number of publicly traded companies, including Shake Shack and Ruth’s Chris Steakhouse, faced a public outcry after revealing in financial documents that they had exploited the program. Critics have complained that large companies, some with hundreds of millions in revenue, grabbed the first round of PPP funds before small employers could dip into them.
Among the large companies that agreed to return money Amid the outcry was Fiesta Restaurant Group, the parent company of San Antonio-born Taco Cabana. He agreed to repay $ 15 million in PPP loans.
An analysis of the Small Business Administration figures by news organizations also revealed that companies with ties to current office holders have also benefited from the PPP.
Atlas Sand, a company partly owned by the wife of the American Republican. Chip Roy, received between $ 2 million and $ 5 million in federal funding, the Texas Tribune reported. Roy represents the 21st Congressional District, which includes the country of Texas Hill and parts of San Antonio and Austin.
According to a Washington post Analysis, the family shipping business of U.S. Transportation Secretary Elaine Chao received a P3 loan, as did at least seven members of Congress or their spouses.
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