The federal government on Monday released the names of more than 650,000 U.S. businesses that have successfully applied for Paycheck Protection Program (P3) loans – federal stimulus loans intended to help keep family businesses across the country at bay. flood during the coronavirus crisis – Monday. As you might expect, many of the names on the list are prominent restaurateurs, like California Governor Gavin Newsom, whose Plumpjack group of restaurants, bars, wineries, hotels, and event spaces have borrowed as many as 350. $ 000 to the federal government.
These roughly 650,000 names represent only a fraction of the recipients of the loan, which is administered by the US Small Business Administration (SBA). The data released Monday relates only to recipients of loans over $ 150,000, the US Treasury said in a press release. Recipients of loans below $ 150,000 are listed in the agency’s database by demographic information, but all names and addresses have been redacted.
The Washington post has created a searchable database of all recipients of loans over $ 1 million, and on that list alone several local names appear: Mexican channel Tacolicious won between $ 2 million and $ 5 million to support 343 jobs , according to the report, Chinatown food and drink emporium China Live borrowed between $ 1 million and $ 2 million to support 182 jobs, and Tartine Bakery borrowed between $ 1 and $ 2 million to support 145 jobs.
Not on the To post The list was Plumpjack, the company founded by Newsom in 1992 as the Fillmore District wine store. Since then it has expanded to four wineries, three retail outlets and restaurants, including Marina District hot spot Balboa Cafe, SoMa Forgery cocktail bar and Wildhawk, Mission bar which took over the former Lexington Club space. The restaurant group has won a PPP loan in a range of between $ 150,000 and $ 350,000, reports the Associated Press.
Govt @GavinNewsom declined to comment on his winery / hotel / restaurant business, @PlumpJack, receiving a federal diploma #PPP loan of $ 150,000 to $ 350,000. He said his business interests were in a blind trust and we had to ask the trustee about it, “period.”
– SovernNation (@SovernNation) July 6, 2020
Asked about the loan on Monday, Newsom said: “You will have to ask the people who run these companies,” KRON 4 reports. SF Chronicle report from 2018, when Newsom – who was previously Lieutenant Governor of California – was elected head of state, he transferred “title and control of the companies he founded to a blind trust, a step which goes beyond anything required by law, ”a spokesperson said.
This wasn’t the first time Newsom had left his empire: when he was elected mayor of San Francisco in 2004, he sold all of his businesses in the city to investor Plumpjack and local billionaire Gordon Getty for 1.7 million bucks. When he was elected lieutenant governor in 2010, Newsom bought the company from Getty. A second sale was not in the cards when Newsom was elected governor, it seems: he told the Chron during his campaign: “These are my babies, my life, my family… I can’t do this. I can’t sell them.
Nonetheless, Newsom’s baby family is currently out of his hands, he says, a case confirmed by Plumpjack, McKenzie Ward’s vice president of marketing. According to Ward, Newsom “has no say in the decisions we make,” and the company was grateful for the federal loan, which would have saved 14 jobs.
Those interested in browsing the list for other loan recipients have several options: Post’s database of recipients over $ 1 million is here, the Treasury Department has a downloadable CSV file for recipients over $ 150,000 here, and a state-by-state list of those who borrowed less than $ 150,000 – remember this one has no name or address – is available here. Do you see something important that you think we should be looking at? Write U.S.