Cy-Fair Edition | October 2020

PPP L ANS STAYINGAFLOAT IN CYFAIRDURING COVID19:

Total saved jobs 68,544

More than 7,300 loans were approved for Cy-Fair-area businesses under the Paycheck Protection Program. SOURCE: U.S. SMALL BUSINESS ADMINISTRATION COMMUNITY IMPACT NEWSPAPER

7,383

Total loans given

LOANS BY ZIP CODE

“Since the beginning of the pandemic, we have lost more than $1.75 million in revenue due to having to shut down our day program.” LAUREN BLACK Reach Unlimited executive director “What’s scary is we are not out of this by a long shot. You are spending everything you have worked your life for to keep these restaurants open.” HARRY CHAMBERS Harris County Smokehouse owner

99 TOLL

249

77070: 1,249 loans

290

1960

77429: 1,440 loans

77433: 1,344 loans

77065: 651 loans

77064: 702 loans

77095: 1,051 loans

6

77040: 946 loans

529

N

MAP NOT TO SCALE

Keeping businesses aoat Of the PPP loans approved in Cy-Fair, the vast majority, about 88%, were for $150,000 or less. Twelve loans were approved for amounts between $5 mil- lion-$10million in Cy-Fair, according to the data, including to the general con- tracting company Clearwater Utilities and the energy industry tool company Gyrodata Incorporated. The SBA data includes the names of businesses for loans in excess of $150,000, but not for loans below that amount. For loans above $150,000, the loans size was provided as a range and not an exact dollar amount. Fifty-three jobs were retained at The Annex Crafthouse, according to SBA data. “It’s helped us tremendously because we have a pretty high rent bill too,” Buitron said. “We’re a brand new restaurant, so once we started getting going, our sales started losing to COVID in March.” Lauren Black, the executive direc- tor of the Cy-Fair nonprot Reach Unlimited, said Reach’s PPP loans saved roughly 45 jobs. Additional loan money went to rent and utilities for the nonprot, which runs six group homes for individuals with intellectual and developmental disabilities, among other operations. “Since the beginning of the pan- demic, we have lost more than $1.75 million in revenue due to hav- ing to shut down our day program,” Black said.

NOTABLE BUSINESSES THAT RECEIVED LOANS Willie’s Icehouse and Grill, Arkoma Energy Services, John Moore LP

JOBS RETAINED BY INDUSTRY

LOANS BY SIZE

6,472

Under $150,000

Accommodation and food services 9,898

Pappas Restaurants, Luby’s, Clearwater Utilities

523

$150,000-$350,000

Construction 9,059

Security Act passed by the U.S. Con- gress in late March. Harry Chambers said about 80% of their loan was spent on payroll, which has allowed him to keep everyone on sta so far. “We couldn’t have done it this long [without PPP loans],” Harry Cham- bers said. “It’s just too many dollars.” More than 7,300 loans totaling millions of dollars were given to businesses and organizations across seven ZIP codes in Cy-Fair: 77040, 77064, 77065, 77070, 77095, 77429 and 77433. Data released by the U.S. Small Business Administra- tion covering April 3 through Aug. 8 shows the money helped save over 68,000 jobs. The loans allowed some busi- ness owners to make crucial rent payments and continue paying sta. However, as loan money runs out some said they would look to another round of funding if it became available. “It seems like more people are actually coming out now, but it’s been inconsistent and in waves,” said Mario Buitron, manager at The Annex Crafthouse in Vintage Park. “There’s still a lot of catching up to do.”

286

$350,000-$1M

64

$1M-$2M

Health care and social assistance 6,666

26

$2M-$5M

12

$5M-$10M

Professional, scientic and technical services 6,182

CONTINUED FROM 1

Other services 5,759 Manufacturing 5,511

March, it would bring the biggest set of challenges yet to the longtime business owners, with sales drop- ping at one point to 25% of what normally comes in. In a September interview, the Chambers said they fear the worst is yet to come. “In the beginning, we were spend- ing everything we had put in a nest egg for our retirement,” Harry Cham- bers said. “What’s scary is we are not out of this by a long shot. You are spending everything you have worked your life for to keep these restaurants open.” Harris County Smokehouse was one of thousands of businesses in the Cy-Fair area to be approved for a loan from the Paycheck Protection Program, an element of the Coro- navirus Aid, Relief and Economic

Personnel services 4,357

Wholesale trade 3,689

Retail trade 2,943

Mining, quarrying and oil and gas extraction 2,052

SOURCES: U.S. SMALL BUSINESS ADMINISTRATION, U.S. DEPARTMENT OF TREASURYCOMMUNITY IMPACT NEWSPAPER

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