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

Thirteen drive-thru grocery stores operated by the Salvation Army of North Texas are offering backpacks filled with supplies. (Courtesy Salvation Army)
Salvation Army expands North Texas grocery service locations to include school supplies, protective equipment

Backpacks filled with school supplies, personal protective equipment, financial assistance resources and U.S. Census forms will be available at the 13 existing locations.

Rapid nasal swab antigen tests are recommended as options for individuals who were potentially exposed to a confirmed positive carrier, as well as for people traveling, returning to work or undergoing a medical procedure. (Courtesy Total Primary Care)
Find out where to get a 15-minute COVID-19 test in Austin, Dallas-Fort Worth metros

Rapid nasal swab antigen tests are recommended as options for individuals who were potentially exposed to a confirmed positive carrier, as well as for people traveling, returning to work or undergoing a medical procedure.

(Courtesy Adobe Stock)
State Farm office opens in Grapevine

A new State Farm insurance office opened Aug. 1 at 414 N. Main St., Ste. 106, Grapevine.

(Ellen Jackson/Community Impact Newspaper)
Changes in Colleyville stormwater fee structure could fund flood mitigation

Flooding events at dozens of road crossings in Colleyville have led city officials to compile a laundry list of stormwater projects to take on in the decades to come.

A mother and daughter visit at Seasons Assisted Living & Memory Care in Conroe earlier in the pandemic. (Courtesy Seasons Assisted Living & Memory Care)
Texas allows limited visitations to nursing homes, long-term care facilities

Facilities that meet the requirements will allow limited visitations, but you still will not be able to hug or kiss your loved one.

(Courtesy Fotolia)
Brumlow Avenue lane closures in Southlake make way for waterline extension

Crews began work July 20 on a waterline extension project on the 1700 block of Brumlow Avenue.

SweetStop bakery holds grand opening in Richardson and more DFW-area news

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

The Confederate Soldiers Monument stands on the south grounds of the Texas Capitol. A group of Democratic lawmakers have called for its removal, along with other statues and portraits honoring the Confederacy. (Jack Flagler/Community Impact Newspaper)
State legislators seek removal of Confederate monuments at Texas Capitol

The decision may ultimately lie with Gov. Greg Abbott and the rest of the State Preservation Board, which last year authorized the removal of a plaque in the Capitol that said slavery was not an underlying cause of the Confederate rebellion.

Colleyville City Council set its maximum tax rate at an Aug. 4 meeting. (Courtesy Fotolia)
Colleyville's FY 2020-21 maximum tax rate would collect no new revenue; council to set rate at Sept. 15 meeting

Colleyville City Council voted Aug. 4 to set a maximum tax rate of $0.310644 per $100 valuation and will vote to set the tax rate at a future meeting.

Umbra Winery has closed its Grapevine location. (Courtesy Adobe Stock)
Umbra Winery closes Main Street location in Grapevine

Umbra Winery announced Aug. 3 it is closing its Grapevine tasting room, which is located at 415 S. Main St., Grapevine.

Sonic Drive-In will open a location on Lake Forest Drive in McKinney. (Courtesy Adobe Stock)
Sonic Drive-In opens in McKinney, Koto Hibachi and Sushi now serving diners in Frisco: News from DFW

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