Paycheck Protection Program loans to local nonprofit housing organizations

Paycheck Protection Program loans to local nonprofit housing organizations

By Lynda Carson - July 12, 2020

Oakland - Reportedly, through the Paycheck Protection Program (PPP), and loans made under the CARES Act, the federal government provided around $659 billion to banks for low-interest loans to companies and nonprofit organizations because of the economic disaster created by the coronavirus Covid-19 pandemic. The Small Business Administration is administering the PPP program.

According to the NON PROFIT MEGAPHONE website, in part it reads, “This program offers nearly all nonprofits a loan for 2.5x your average monthly payroll expenses (max of $10m). As long as your organization spends the loaned money on payroll, mortgage payments, rent and utilities, and you maintain your payroll, the entire loan amount can be forgiven, converting it into a grant. No personal guarantee or collateral is required.”

Additionally, according to ProPublica in part they state, “Companies and nonprofit organizations that receive PPP loans may have the loans forgiven if they meet certain criteria, including not laying off employees during an 8-week period covered by the loan. Applicants must attest in their application that the loans are necessary for their continuing operation.”

In recent months, reportedly ProPublica has joined several major news organizations to sue the federal government in an effort to force the government to disclose the names of companies that received loans through the Paycheck Protection Program (PPP). This was after the government delayed and refused to release the loan information to the public.

ProPublica and other news organizations won the lawsuit to force the Trump regime to release the names of some of the companies/organizations that received taxpayer money through the PPP.

Additionally, after winning their lawsuit, ProPublica created a data base and a tracking search engine that may be found by clicking here. This will help to find some companies that received loans through the PPP.

Below are some Bay Area nonprofit housers / affordable housing developers that were in the tracking data base provided by ProPublica. The exact loan amounts were not listed. They were listed as the minimum amount received, up to the maximum amount the entities may have received.

Loans to some of the local nonprofit housing organizations:

Abode Services
Fremont - Loan Amount: $2-5million - Date Approved: April 27, 2020

Bay Area Community Services INC.
Oakland - Loan Amount: $2-5million - Date Approved: April 15, 2020

Berkeley Food and Housing Project
Berkeley - Loan Amount: $350,000-1 million - Date Approved: April 28, 2020

Bonita House, INC.
Oakland - Loan Amount: $350,000-1 million - Date Approved: April 30, 2020

Bridge Housing Corporation
San Francisco - Loan Amount: $5-10 million - Date Approved: April 13, 2020

California Housing Partnership Corporation
San Francisco - Loan Amount: $350-1million - Date Approved: May 3, 2020

Chinatown Community Development Center
San Francisco - $2-5 million - Date Approved: April 9, 2020

Community Housing Partnership
San Francisco - Loan Amount: $2-5 million - Date Approved: April, 15, 2020

Contra Costa Interfaith Transitional Housing
Pleasant Hill - Loan Amount: $350,000-1 million - Date Approved: April 15, 2020

EAH INC.
San Rafael - Loan Amount: $5-10 million - Date Approved: April, 27, 2020

East Bay Asian Local Development Corporation
Oakland - Loan Amount: $1-2 million - Date Approved: April 14, 2020

Eden Housing, INC.
Hayward - Loan Amount: $2-5 million - Date Approved: April 16, 2020

Eden Housing Management, INC.
Hayward - Loan Amount: $2-5 million - Date Approved: April 27, 2020

Eden Housing Resident Services, INC.
Hayward - Loan Amount: $150,000-$350,000

Habitat For Humanity East Bay/Silicon Valley
Concord - Loan Amount: $1-2 million - Date Approved: April 8, 2020

Housing Consortium of the East Bay
Oakland - Loan Amount: $150,000-$350,000 - Date Approved: April 15, 2020

Mission Housing Development Corporation
San Francisco - $350,000-1 million - Date Approved: April 13, 2020

Non-Profit Housing Association of Northern California
San Francisco - Loan Amount: $150,000-350,000 - Date Approved: April 28, 2020

Operation Dignity, INC.
Emeryville - Loan Amount: $350,000-1 million - Date Approved: April 15, 2020

Resources for Community Development
Berkeley - Loan Amount: $350,000-1 million - Date Approved: April 28, 2020

Satellite Affordable Housing Associates
Berkeley - Loan Amount: $1-2 million - Date Approved: April, 10, 2020

St. Mary’s Center
Oakland - $350,000-1 million - Date Approved: April 28, 2020

Tenants and Owners Development Corporation
San Francisco - $350,000-1 million - Date Approved: April 30, 2020

Tenderloin Neighborhood Development Corporation
San Francisco - $5-10 million - Date Approved: May 3, 2020

Lynda Carson may be reached at tenantsrule [at] yahoo.com

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