Almost 400 local businesses in Grand received PPP loans
Grand County businesses got over $20 million in PPP loans with Middle Park Health and Granby Ranch receiving the biggest sums in the county.
The Small Business Administration, which manages the PPP loans, released information last week about the money given out to businesses across the country without saying whether each business actually accepted the funding.
The data show that almost 400 Grand County businesses received a loan through the program, which aimed to provide money to help retain employees during the coronavirus pandemic.
The only recipient in the county that received a loan in the $2 million to $5 million range is the Kremmling Memorial Hospital District, which includes the various Middle Park Health locations. According to the hospital’s CEO Jason Cleckler, the PPP money is helping with payroll while fewer patients are visiting the hospital.
“These funds have helped the hospital system cover payroll expenses during a time we have seen decreased volumes,” Cleckler said.
SBA data shows the Kremmling Memorial Hospital District retained 261 jobs with the money.
Granby Ranch Amenities and Grand County Roofing & Sheet Metal both received loans ranging from $350,000 to $1 million.
According to the SBA, Grand County Roofing & Sheet Metal retained 70 jobs and Granby Ranch Amenities said the loan would help retain 75 employees.
Altogether, 23 Grand County businesses received a loan from $150,000-$350,000 and 363 businesses got loans less than $150,000. The SBA didn’t provide businesses’ names for loans under $150,000.
• Allegiant Management, 0 jobs retained
• Apres Ski, 11 jobs retained
• Condominium Management Company, 45 jobs retained
• Darou Ventures, 11 jobs retained
• Randi’s, 32 jobs retained
• Rocky Mountain Realty Futures, 0 jobs retained
• Swiss House, 20 jobs retained
• Terra Firma Custom Homes, 13 jobs retained
• Winter Park Lodging By Owner, 36 jobs retained
• WP Cowboy’s, 17 jobs retained
• Millworks Construction Services, 15 jobs retained
• Big Valley Construction, 17 jobs retained
• Grand Timber Insulation, 12 jobs retained
• Indian Peaks Rental, 11 jobs retained
• Mavericks Grille, 34 jobs retained
• McConathy Capital and The Country Hardware, 21 jobs retained
• Resort Management Group, 35 jobs retained
• U-Med, 7 jobs retained
• Burnt Bone, 57 jobs retained
• Grand Lake Plumbing Co, 20 jobs retained
• Kremmling Mercantile, n/a
• Maximum Services, 17 jobs retained
• Northwest Ranch Supply, 13 jobs retained
Of the businesses that received less than $150,000, the average loan in Grand County is around $34,000. The smallest loan, just $670, went to a business in Winter Park.
The businesses that received over $150,000 collectively retained 409 employees.
Additionally, the Sky-Hi News’ parent company, Swift Communications, which is based in Nevada and owns news outlets in Colorado, Nevada, South Dakota and Wisconsin received a PPP loan, credited for retaining 500 jobs companywide.
Locally, the PPP loan kept staff working full-time during the eight-week period to which the loan applied, as well as allowed the Sky-Hi News to hire a couple freelance writers and photographers for the newspaper and its summer publications, including Explore Grand Summer 2020.
Throughout the state, 13,000 businesses received loans over $150,000 and 91,000 businesses received less than $150,000, as reported by The Colorado Sun.
Information from the SBA included businesses receiving more than $150,000, location, loan amount, job retention, lender information and the type of business. The SBA also asked for data relating to race, ethnicity and gender, though most businesses left that information blank.
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Grand County’s real estate transactions Oct. 17-23 were worth more than $25.8 million combined.