Restaurants, Doctors, Lawyers Top Thousands of Nevada P3 Loan Recipients | News from Carson City, Nevada
Tens of thousands of small businesses and organizations in Nevada – from casinos and law firms to churches and even strip clubs – have received at least $ 3.1 billion through the Paycheck Protection Program stimulus package, according to a massive disclosure made by the federal government.
The Small Business Administration released loan information Monday, including the names of 660,000 small businesses and nonprofits nationwide that have received at least $ 150,000 in funding since the program launched this spring. .
According to Washington Post, the disclosure only covers about 15 percent of the 4.9 million loans issued under the program. The SBA withheld names of borrowers for loans under $ 150,000, which likely omits most sole proprietors and independent contractors.
Nonetheless, the disclosure gives a first look at the major Nevada companies and organizations that have applied for and received loans under the program, including the Waldorf Astoria Las Vegas on the Las Vegas Strip, Dotty’s parent company, the resorts – Terrible Herbst service and the operator of a Taco Bell franchisee.
But the more than 5,500 Nevada companies listed in the disclosure also cover a wide range of industries; healthcare and hospitals, law firms, churches, schools, nonprofit groups, news organizations and even a strip club and a cannabis company. Several mining companies, which did not shut down during the Nevada businesses shutdown, also said they received loans.
The program was part of the $ 2 trillion federal CARES law enacted in late March, with the goal of quickly delivering dollars to businesses with fewer than 500 employees to keep them afloat during extended business shutdowns caused by the COVID-19 pandemic. If recipients can use at least 60 percent of the amount on salary costs, they will receive full loan forgiveness, making the money a grant.
He was praised for disbursing massive sums of money to small businesses quickly, but also criticized for initially allowing large companies or well-funded or publicly traded companies to access the loan program. The deadline to apply for the program has been extended to August 8 this week, and it has about $ 130 billion left in available loans.
Nationally, the federal government provided $ 521 billion in loans under the program, which helped support about 51 million jobs (according to self-reported data by lenders). In Nevada, the loans have supported more than 42,000 businesses with more than 525,000 jobs statewide.
The actual loan amounts for companies receiving more than the $ 150,000 disclosure threshold were given in ranges, meaning that the total federal loan amount to these 5,542 Nevada companies was somewhere between 1 , $ 96 billion and $ 4.75 billion.
On top of that, the more than 36,600 state-owned businesses that received loans under $ 150,000 under the program still received a total of $ 1.2 billion in federal loans under the program. program framework.
The biggest loans
There were 25 Nevada entities that received loans between $ 5 million and $ 10 million. 174 others had loans between $ 2 million and $ 5 million, while 432 received between $ 1 and $ 2 million, and 1,615 had loans between $ 350,000 and $ 1 million.
The following entities received loans exceeding $ 5 million:
– Allison, Curtis, Kingsley, Meoz, Michael and Sanchez, Prof. Corp: this entity encompasses Comprehensive Cancer Centers, a medical group with several sites in Las Vegas
– CCLV Luxury Hotel Holding, LLC, better known as the Waldorf Astoria Las Vegas hotel on the Las Vegas Strip
– Connor Group Inc., a professional services firm that assists financial executives of companies with offices in Reno and other countries
– Diversified Protection Corporation, a Las Vegas-based company that provides security services to federal agencies and commercial businesses and has multiple offices across the country
– Golden Gate Bell LLC, which operates Taco Bell restaurants
– Med-Smart Inc., which helps medical office staff
– Nevada Restaurant Services, which operates Dotty’s Taverns
– Nevada Sales Limited, a flooring company
– NG Washington II, an investment management company in the casino industry
– Opportunity Village Association For Retarded Citizens, serving people with disabilities
– Panorama Mortgage Group, Llc, which operates as Alterra Home Loans and Legacy Home Loans in Las Vegas and also operates in Salt Lake City
– Pereira & Associates LLP, an immigration law firm
– Peri & Sons Farms, Inc., an onion farm in Yerington which also has a location in California
– Q&D Construction LLC, a general contractor in heavy / civil construction, aeronautics and commercial
– R&R Partners, Inc., an advertising and integrated marketing company that created the “What Happens in Vegas, Stays in Vegas” campaign
– Roman Catholic Bishop of Las Vegas and his successors, A Corporation Sole, which is the Catholic Church of Southern Nevada
– RBG LLC, which is the CasaBlanca Resort and Casino in Mesquite
– Sierra Nevada Construction, Inc., which is a contractor
– Silver State Bell LLC, which owns and operates Taco Bell restaurants
– Swift Communications, Inc., a Carson City-based news company that has publications in places such as Utah, California, Colorado, and South Dakota
– Terrible Herbst, Inc., which operates car washes and convenience stores
– The Nathan Adelson Hospice, a non-profit hospice and healthcare provider
– Washoe Barton Medical Clinic, also known as Carson Valley Medical Center, provides cardiology, pediatrics, emergency care, surgery, oncology and other medical services
WBF Management LLC, which operates McDonald’s restaurants in Southern Nevada and elsewhere.
Xl Concrete Masonry LLC, a masonry and concrete contractor serving Nevada and California.
Loan beneficiaries by sector
Nonprofits and charities that have received loans include:
– Village of opportunities
– Nevada Donor Network, which facilitates organ donation
– The Smith Center
– Boys and Girls Club
– Hope for Prisoners, a post-prison reintegration organization
– Catholic charities
– Communities in Schools, an organization for the prevention of early school leaving
– Jobs for Nevada graduates
Many churches have received loans, including
– Christian Ministries of Lake Mead
– Chapel of Calvary Spring Valley
– Canyon Ridge Christian Church
– Hope Baptist Church Vegas
– Central Christian Church
Private schools, charter schools, and higher education institutions that have received loans include:
– Coral Academy
– Odyssey charter school
– The Prairie School
– UNLV Medicine
– Bishop Manogue High School
– Preparation for democracy
– College of Sierra Nevada
The companies that received the loans included a long list of medical offices, car dealerships, gas stations and restaurants. At least one strip club, Dejavu Showgirls, and one cannabis company, Tahoe Hydroponics, have received loans. The same goes for entertainment entities including Epic Club Crawls and the Life is Beautiful festival.
Media companies that have received loans include:
– Greenspun Media, parent company of the Las Vegas Sun
– Channel 5 Public Broadcasting in Reno, a subsidiary of PBS
– Nevada Public Radio
– Reno Media Group, which owns several radio stations
– Nevada News Bureau, the parent company of The Nevada Independent
Mining companies have been allowed to continue operating during shutdowns of non-essential businesses. Those who have received loans include:
– Nevada Copper
– MP Mine, which processes “rare earth” minerals used in rechargeable batteries and camera lenses
– Empire Mining, a gypsum mining company based in Gerlach
– Renowned law firms received loans, including:
– Glen Lerner
– Hutchison and Steffen
– Southern Nevada Legal Aid
– McDonald Carano
– Eglet law group
Many casinos receive loans, including:
– Plaza Hotel
– Jerry’s nugget
– Tuscany Hotel & Casino
– This story was written by Nevada Independent reporters Riley Snyder, Tabitha Mueller, Savanna Strott and Michelle Rindels. It is used with permission from The Nevada Independent. Go here for updates to this story and others.