These San Jose nonprofits received the most PPP loan money
Second Harvest of Silicon Valley workers pack and distribute food at its warehouse in San Jose. Photo By Nicholas Chan.

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.

Leave a Reply

Your email address will not be published.