top
East Bay
East Bay
Indybay
Indybay
Santa Cruz
Santa Cruz
Indybay
Regions
Indybay Regions North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area California United States International Americas Haiti Iraq Palestine Afghanistan
Topics
Newswire
Calendar
Features
From the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature
Paycheck Protection Program loans to local nonprofit housing organizations
by Lynda Carson (tenantsrule [at] yahoo.com)
Sunday Jul 12th, 2020 3:31 AM
PPP Loans During The Coronavirus Covid-19 Pandemic:
sm_49534865371_7219ecfbcd_k__1_.jpg
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

>>>>>>
>>>>>>
§For What It's Worth...
by Lynda Carson
Sunday Jul 12th, 2020 4:23 PM
For What It's Worth...

Below is a little more information, including 3 minor corrections.

(LC)

>>>>>>
Bridge Housing Corporation - 2017 990 tax filing (Last 990 tax filing that was filed)

After subtracting their liabilities from their assets in 2017, Bridge Housing Corporation still had net assets or fund balances of $69,209,247.

Click below...

https://990s.foundationcenter.org/990_pdf_archive/942/942827909/942827909_201712_990.pdf

>>>>>>
>>>>>>
Some minor corrections below...

California Housing Partnership Corporation
San Francisco - Loan Amount: $350,000-1million - Date Approved: May 3, 2020

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

Eden Housing Resident Services, INC.
Hayward - Loan Amount: $150,000-$350,000 - Date Approved: April 28, 2020

>>>>>>
>>>>>>
Add Your Comments
LATEST COMMENTS ABOUT THIS ARTICLE
Listed below are the latest comments about this post.
These comments are submitted anonymously by website visitors.
TITLE AUTHOR DATE
Note: Additional information from ProPublicaLynda CarsonSunday Jul 12th, 2020 6:52 PM
We are 100% volunteer and depend on your participation to sustain our efforts!

Donate

donate now

$ 227.00 donated
in the past month

Get Involved

If you'd like to help with maintaining or developing the website, contact us.

Publish

Publish your stories and upcoming events on Indybay.

IMC Network