Boise-area businesses received largest COVID-19 relief loans

Three Idaho health care groups were among the largest recipients of federal aid intended to prevent layoffs during the coronavirus pandemic.

Alliance Medical Group, which operates 20 Primary Health Medical Group clinics in the Treasure Valley, was among three employers who secured between $ 5 million and $ 10 million in forgivable loans under the $ 670 billion paycheck protection program. of dollars.

Sandpoint’s Bonner General Hospital and Healthwise Inc., a nonprofit health education company in Boise, have also secured loans in this range, according to a disclosure Monday from the Small business management, which administers the program.

Twelve of Idaho’s 15 companies that have obtained loans between $ 5 million and $ 10 million are located in the Treasure Valley. The others are Commercial Tire of Meridian; Boise’s Dennis Dillon Auto Park & ​​Truck Center; Compunet Inc., a Boise information technology company; Cradlepoint, a Boise technology company that manufactures wireless routers and provides cloud-based services; Engineered Structures Inc., a Meridian construction company; JUB engineers from Boise; RM Mechanical Inc. of Boise; Teancum LLC., A division of Peterson Motor Co., based in Boise; Thomas Management LLC, a Meridian food service company that supplies chefs to hospitals, retirement homes, businesses and private colleges; and Valley Agronomics LLC, a Nampa company that helps farmers increase their yields.

The list contained the names of 660,000 small businesses and nonprofits that secured at least $ 150,000 in funding. It was the first time that the SBA publicly identified loan recipients.

The companies identified represent only a small part of the companies that have received PPP funds. Over 80% of the loans were for smaller amounts.

However, the disclosure helped temper criticism of the Trump administration, which for months had rejected requests from lawmakers and news outlets to identify the recipients of the funds.

Several news outlets, including the New York Times, Washington Post, Bloomberg, Dow Jones & Co. and ProPublica, have filed a Lawsuits under the Freedom of Information Act search for business names and loan amounts for all PPP recipients.

The published data only contains information for about 15% of the 4.9 million loans issued. The SBA did not disclose the names of borrowers for loans under $ 150,000.

The government issued $ 521 billion in loans, with an average loan of $ 107,000. The program has helped support around 51 million jobs, according to self-reported data from borrowers. The SBA said this represents 84 percent of all employees working in small businesses, based on Census Bureau data.

The program is part of the federal economic stimulus legislation of the $ 2,000 billion CARES Act passed by Congress. The goal was to quickly deliver cash to workers in companies with fewer than 500 employees to keep them employed until the end of the pandemic. The companies applied through their banks, which approved the loans and sent them to the SBA for final approval.

Congress passed a law extending the nomination deadline until August 8. About $ 130 billion remains in the program, and the administration plans to release more data on the program after that deadline.

This story was originally published 6 July 2020 13:17.

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Journalist John Sowell has worked for the Statesman since 2013. He covers business and growth issues. He grew up in Emmett and graduated from the University of Oregon. If you enjoy seeing stories like this, consider supporting our work with a digital subscription to the Idaho Statesman.

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