Arizona Republic
PHOENIX – Primavera online charter school, like many businesses this spring, sought help from the federal Paycheck Protection Program to weather the economic disruption of the COVID-19 pandemic.
The Chandler, Arizona, school
received a PPP loan of nearly $2.2 million, the largest forgivable loan among the 132 Arizona charter schools that obtained them.
But Primavera s loan appears to have been more of a bonus than a lifeline.
The school, which like all Arizona public schools didn t lose state funding because of the pandemic, ended its fiscal year on June 30 with $8.8 million in the bank – almost double the annual payroll costs for its 85 teachers, records show.
Tenants of Donald Trump and Jared Kushner companies receive $3 65m in PPP loan money, report says
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Anti-gay nonprofits, businesses received millions in Covid-19 aid
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It offers the most complete accounting to date of the more than $700 billion in forgivable loans Congress and the Trump administration introduced in the spring for expenses including payroll, rent, utilities and mortgage interest payments.
Businesses and nonprofits with up to 500 employees were eligible. The maximum forgivable loan offered was $10 million.
When the first round of funding opened, NBC 5 reported restaurants, which were hit especially hard by pandemic-related shutdowns and capacity limits, scrambled to get their applications in.
According to the SBA’s records, nine North Texas-based restaurant chains received the maximum $10 million loan.
The list includes Zoe’s Kitchen, Pei Wei, On the Border and the M Crowd Restaurant Group which owns Mi Cocina and Taco Diner.
Sonic Drive-Ins among chains that received PPP loans
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