Santa Cruz California PPP loans: The Dude Who Got $2.34 & Everyone Who Got Millions
The Santa Cruz PPP data is divided into apples and oranges, so it makes it darn tricky to see who is truly getting the fruit. But DATA IS POWER my friends and this here data has been curated just for you.
Santa Cruz California 2020 PPP loan Overview
1954 SC business loans
8162 Jobs Retained
$142-261M disbursed
7 Santa Cruz employers received $2-5M loans
Encompass Community Services
Verve Coffee
Santa Cruz Community Health Centers
NHS Inc.
New Teacher Center
Santa Cruz Medical Group
Rector, Wardens, Vestry of Calvary Church
Naturally, the first thing we want to know: Who Got the Millions?
This map highlights Santa Cruz businesses who received PPP loans over $150K.
p.s. These maps succckkkk on mobile. But it’s interesting to zoom around major business corridors like downtown SC or 41st St. to see how the money was distributed.
If you drill down between the loan types, you'll see that the loan per job retained varies wildly. Jobs Retained isn't the only metric that matters to a community, naturally, but it is one of the few captured in the SBA PPP data.
14 Anonymous Santa Cruz businesses received LESS than $1000
21 businesses received loans over $1M. [see map]
[Still relevant as hell: “The Santa Cruz Restaurant Scene’s Labor Crisis: Why a shortage of service workers has left local restaurant managers scrambling” in the August 2017 Good Times.]
So by now you’ve read a ton of headlines about the Businesses who got big ol PPP checks. But how do those MEGALOAN checks compare to the average check given to a small business? Will the difference between a large PPP check and a modest one be the final straw? Why is this info hidden in layers of spreadsheet crud? [Rolls up sleeves, removes spreadsheet crud.]
$5.7M was distributed to Santa Cruz restaurants via MICROLOANS, 99 loans in total. 41 of their competitor restaurants received MEGALOANS worth $9-22.5M total.
Here is the average microloan for Santa Cruz restaurants:
Cafeterias: $39K
Caterers: $53k
Drinking Places: $35.8K.
Full Service Restaurants: $68.6k
Limited Service Restaurants: $46k
Snack/Beverage Bar: $31K
This enables us to compare MEGALOANS against the average loan given to their competitors.
Catalyst nightclub ($150-350k) v.s. Drinking Place average $35k
Crow’s Nest ($1-2M) v.s. Restaurant average $68.6k
The Bagelry, Harbor Cafe, Kianti's, Pleasure Pizza ($150-350k) v.s. Limited Service Restaurants average $46k
515 Kitchen & Cocktails*, Cat & Cloud, Pacific Cookie Company, People's Coffee v.s. Snack/Beverage Bar average $31K
Other restaurants that received above-average loans:
($350,000-1 million) burger, El Palomar, FireFish Grill, Ideal Bar & Grill, Lillian's Italian Kitchen, Rosie McCann's, Stagnaro Brothers Inc, West End
($150,000-350,000) Akira, Aldo's Harbor Restaurant, Bantam, Betty's Burgers, Boardwalk Kiosks, Charlie Hong Kong, Crepe Place, Diner Services Inc, El Palomar, Johnny's Harborside, Laili, Makai, Riva Fish House, Santa Cruz Diner Inc, Saturn Cafe, Snap Taco, Soif, Suda, Walnut Ave Cafe, Zackary's, Zameen
Here’s that big ol grid of cleaned up 2020 Santa Cruz California Restaurant PPP data. Best guesses to the individual restaurants represented by the holding companies who received loans.
FOOTNOTES
Yes, this is particularly dry, but if you’re here you might like all these distinctions!
MEGALOANS Loans over 150K: Business name & address published, along with range of loan (tough to tally exact figures)
MICROLOANS Loans under 150K: Exact amount of loan reported, along with the NAICS code of the establishment. Business name/address is redacted. (easier to tally, tougher to map)
ORIGINAL DATA is downloadable on Box: https://home.treasury.gov/policy-issues/cares-act/assistance-for-small-businesses/sba-paycheck-protection-program-loan-level-data
GOOGLE MAP is open if you'd like to contribute more datapoints https://www.google.com/maps/d/edit?mid=1tINiy16exaj9POkNswSt0xZLllvC4GkG
NAICS classifications: Some classifications appear to just be errors. This reflects the data released by the Small Business Administration, so it is presented without edit.
Please let me know if you spot any goofs. Any errors are my own and will be corrected. Thanks all!