INTERACTIVE: PPP loans allow Grapevine, Colleyville, Southlake businesses to retain over 47,000 jobs

See how local businesses received federal PPP loans in the interactive story below. (Community Impact staff)
See how local businesses received federal PPP loans in the interactive story below. (Community Impact staff)

See how local businesses received federal PPP loans in the interactive story below. (Community Impact staff)

Over 3,500 businesses in Grapevine, Colleyville and Southlake received potentially forgivable loans through the federal Paycheck Protection Program to help combat the effects of the coronavirus pandemic. Businesses that received those loans reported they were able to retain more than 47,000 jobs in the three cities.

Seventy-four businesses in Grapevine, Colleyville and Southlake received loans of at least $1 million, according to data from the U.S. Small Business Administration. The majority of the businesses that qualified for loans, however, received amounts of $50,000 or less, the data shows.

A total of $659 billion was authorized by the U.S. Congress for PPP loans nationwide to help businesses with job retention and other expenses.

Over 1,500 of the 3,574 federal stimulus loans distributed in Grapevine, Colleyville and Southlake were concentrated in in the industries of professional, scientific and technical services; health care and social assistance; and services listed as "other," which excludes public administration.

Companies that received PPP loans were also asked to report the number of jobs they expected to retain on their loan application. While most companies reported retaining some number of jobs, about 13% of Grapevine, Colleyville and Southlake loan recipients either did not respond to that question or reported zero jobs retained.

Businesses must meet certain federal standards to be eligible for loan forgiveness.

Data was released by the SBA on July 6 after the administration was sued by 11 media organizations, including The New York Times and Associated Press, for its initial refusal to release detailed PPP loan data.

At the federal level, the SBA distributed more than $518 billion in loans through July 17. Texas businesses have received $40.7 billion in PPP loans, second only to California at $67.5 billion.


According to John Arensmeyer, CEO of the national small business advocacy group Small Business Majority, one of every four small businesses in its network reported receiving a lower amount than requested; he said the data is a "far cry" from an accurate representation of the program.

"Serious questions remain about whether PPP funds were equitably distributed to minority-owned businesses, and there is an alarming rate of small-dollar loans," Arensmeyer said.

Ian Pribanic and Jack Flagler contributed to this report.

Editor's note: Community Impact Newspaper, headquartered in Pflugerville, was a recipient of PPP funding.
By Gavin Pugh
Gavin has reported for Community Impact Newspaper since June 2017. His beat has included Dallas Area Rapid Transit, public and higher education, school and municipal governments and more. He now serves as the editor of the Grapevine, Colleyville, Southlake edition.


MOST RECENT

Tarrant County voters wait in line to cast their ballot at The Rec of Grapevine on Oct. 13. (Sandra Sadek/Community Impact Newspaper)
More than 500,000 ballots cast during early voting through Oct. 27 in Tarrant County

With a week left of early voting, around 42% of all registered Tarrant County voters have submitted a ballot.

Tarrant County Judge Glen Whitley announced bars, wineries and breweries could reopen at 50% capacity Oct. 14. (Sandra Sadek/Community Impact Newspaper)
Tarrant County business owners react to reduced COVID-19 bar restrictions

Local bars and wineries in Tarrant County reopened at 50% capacity beginning Oct. 14.

Tarrant County has reopened applications for its Small Business Assistance Grant program. Businesses can receive funding up to $10,000. (Adobe Stock Photo)
Tarrant County opens new round of small-business grants Oct. 26

Round 2 of applications for Tarrant County's Small Business Assistance Grant has opened.

An estimated 3,500 trees were destroyed by last October's tornado. (Olivia Lueckemeyer/Community Impact Newspaper)
Free trees: Replace those lost in Richardson tornado and more DFW news

Read the latest business and community news from the Dallas-Fort Worth area.

Kahuna Chair is an authorized dealer of KMBest luxury massage chairs. (Sandra Sadek/Community Impact Newspaper)
Kahuna Chair now open in Colleyville

Kahuna Chair sells luxury massage chairs in Colleyville.

Concept art for the front signage of the hotel (Contributed by Marriott)
Marriott hotel to open second Delta Hotels DFW location in Southlake

Marriott hotel will be opening its second Delta DFW location in mid-November in Southlake.

Applications for Southlake's grant program will open in December. (Courtesy Pexels)
Southlake to open applications for $1 million business grant program

Southlake is working on a new small-business grant relief program to help local businesses during the COVID-19 pandemic.

Home furnishings retailer Living Spaces has opened a store in Fort Worth and will offer a variety of designer collections, including Magnolia Home by Joanna Gaines. (Courtesy Living Spaces)
Living Spaces opens in Fort Worth and more DFW-area news

Read the latest Dallas-Fort Worth business and community news.

Oct. 23 is the last day Texas voters can apply for a vote-by-mail ballot. (Courtesy Pexels)
Tackling Texas' vote-by-mail system: Applying, delivering, tracking your ballot

Oct. 23 is the last day Texas voters can apply for a vote-by-mail ballot.

The L.A.B. Med Spa is located in Southlake and offers a variety of treatments and facials. (Courtesy of the L.A.B. Med Spa)
New medical spa The L.A.B. now open in Southlake

A newly opened medical spa in Southlake offers a variety of facials and treatments including neurotoxins.

Grapevine City Council and the Grapevine Planning and Zoning Commission listen to a presentation from Greystar representative Andrew Ord about expanding the Preserve's apartment complex, located near the DFW Airport and Highway 360. (Sandra Sadek/Community Impact Newspaper)
Grapevine officials approve apartment complex expansion

Grapevine City Council and the Grapevine Planning and Zoning Commission held a joint meeting Oct. 20 to approve Phase II of the Preserve, a luxury apartment complex near the DFW Airport.