santacruzsurfers_lineup.jpg

Keep on Cruzing

Follow along for Coastal California hikes, DIY Gardening Projects, Roadtrips and Camp Advice.

Santa Cruz California PPP loans: The Dude Who Got $2.34 & Everyone Who Got Millions

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

  1. Encompass Community Services

  2. Verve Coffee

  3. Santa Cruz Community Health Centers

  4. NHS Inc.

  5. New Teacher Center

  6. Santa Cruz Medical Group

  7. Rector, Wardens, Vestry of Calvary Church

STEAMER’S LANE

STEAMER’S LANE

 

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.

 
ahhhh … you know when the sky is three different atmospheres in three different directions ? this photo is kinda that. HENRY COWELL PARK

ahhhh … you know when the sky is three different atmospheres in three different directions ? this photo is kinda that.

HENRY COWELL PARK

 

HENRY COWELL REDWOODS

HENRY COWELL REDWOODS

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.

MICRO loans (under $150k) MEGA loans (over $150k)
# of Santa Cruz loans 1679 273
# of Jobs Retained 7063 1099
Amount disbursed $61M $80.3-199.6M
Amount of money dispersed per job retained $8,730 $73,000-181,000

 

14 Anonymous Santa Cruz businesses received LESS than $1000

21 businesses received loans over $1M. [see map]

the dude/ette who got a $2.34 check might need to just move hereTWISTED TREES, NISENE MARKS

the dude/ette who got a $2.34 check might need to just move here

TWISTED TREES, NISENE MARKS

Individual businesses with the lowest loan amounts (loans under $150K, names redacted) Loan Amount Jobs Retained
1. Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing $2.48 3
2. Furniture Merchant Wholesaler $95 1
3. Full-Service Restaurant $300 1
4. Barber Shop $437 7
5. Beauty Salon $518 0
6. Child Day Care Services $555 0
7. Misc. Health Practitioners $607 1
8. Taxi Service $702 1
9. Offices of Mental Health Practitioners (except Physicians) $747 0
10. Photography Studios, Portrait $800 2
11. Women's Clothing Stores $918 2
12. Scenic and Sightseeing Transportation, Water $922 1
13. Scenic and Sightseeing Transportation, Water (#2) $922 1
14. All Other Personal Services $931 1

 
The whole town runs on students and tourism. It’s hard to have a community when no one in the service industry can make ends meet and you’re stacking 25-year-olds two to a bedroom in houses that are falling apart.
— Andy Guy, quoted in Good Times Aug 2017

[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.]


IMG_20200304_190000.jpg

Santa Cruz Restaurants

Resources for Small Businesses
2020 PPP loan recipients

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.

RESTAURANTS & FOOD SERVICE Average MIcroLoan Size (#loans)
(All loans under $150k are anonymous.)
MEGALOAN Individual Business Name MEGALOAN: Individual Business Loan Range
Cafeterias, Grill Buffets, and Buffets $39,128 (2) -- --
Caterers $53,307 (3) -- --
Drinking Places (Alcoholic Beverages) $35,822 (6) USUALLY HIP, INC. (Catalyst Nightclub) e $150,000-350,000
Food Service Contractors -- WHITING'S FOOD CONCESSIONS, INC (Boardwalk Kiosks) d $350,000-1 million
JJW RESTAURANT CO* (Jeffrey's) e $150,000-350,000
Full-Service Restaurants $68,656 (58) (1) Crow's Nest c $1-2 million
(8) burger, El Palomar, FireFish Grill, Ideal Bar & Grill, Lillian's Italian Kitchen, Rosie McCann's, Stagnaro Brothers Inc, West End d $350,000-1 million
(21) 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 e $150,000-350,000
Limited-Service Restaurants $46,163 (23) (4) The Bagelry, Harbor Cafe, Kianti's, Pleasure Pizza e $150,000-350,000
Snack and Nonalcoholic Beverage Bars $31,315 (7) (4) 515 Kitchen & Cocktails*, Cat & Cloud, Pacific Cookie Company, People's Coffee e $150,000-350,000
Restaurant & Food Service PPP Loan Total exact total of restaurant microloans min amount of restaurant megaloans max amount of restaurant megaloans
$14.7-28M $5,716,147.73 (99) $9,000,000 (41) $22,500,000 (41)  

 

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.

FALL ON WEST CLIFF DR.

FALL ON WEST CLIFF DR.


 

Please let me know if you spot any goofs. Any errors are my own and will be corrected. Thanks all!

Santa Cruz Businesses Permanently Closed during COVID19 Pandemic

Santa Cruz Businesses Permanently Closed during COVID19 Pandemic

There's Only One Room Now This Is It

There's Only One Room Now This Is It