A hospital, churches, oil companies, and car dealerships were among the more than 200 entities in Wichita Falls that received loans from the U.S. government under the CARES Act.
The Coronavirus Aid, Relief and Economic Security Act (CARES) was passed to address the economic fallout from the closures and shelters in place imposed earlier this spring. Over $ 600 billion of the $ 2,000 billion CARES Act has been set aside for companies to protect their payroll jobs.
The list, published by the US Treasury, became available this week after several newspapers, including the Washington Post, sued the Small Business Administration for access to the data.
In Wichita Falls, six entities received loans between $ 2 million and $ 5 million, according to the Treasury Department: The Clinics of North Texas; Helen Farabee Centers; Wichita Falls Hospice; Kell West Regional Hospital; Patterson Automotive Center; and Willowbend Investments Inc., operating in the oil and gas industry.
The data also includes the number of jobs protected by the loans. For the Kell West Regional Hospital, 317 jobs were cited; Hélène Farabee, 270; Patterson Automotive Center, 256; and Hospice, 213. The number of jobs associated with clinics in North Texas was not included in the list.
Banks in the region have been cited as lenders, including First Bank, First National Bank, and American National Bank & Trust.
14 other entities received loans between $ 1 and $ 2 million, including Cobra Oil & Gas, Empire Paper, Texhoma Christian Care Center and Falls Tech.
Sharp Iron, a company bought with investors by Texas State Representative James Frank in 2000, also received a $ 1 million to $ 2 million Paycheck Protection Program (P3) for protect 96 jobs. On the “Meet James Frank” website of Rep. Frank, his biography indicates that he also bought California-based Transland in 2007 and moved his business to Wichita Falls. Texas Transland LLC received between $ 350,000 and $ 1 million to protect 32 jobs, according to the Treasury.
While Frank’s Facebook bio cites him as the owner and CEO of Sharp Iron, the rep was not listed on Transland’s website as a director.
As a result of the coronavirus, millions of Americans have suffered job losses. By the end of June, according to the Texas Tribune, some 2.7 million Texans had filed for unemployment since March, when closures and shelter orders were imposed.
The oil industry, typically a boon to the North Texas economy, has not been spared the economic downturn. At the start of the pandemic in the United States, the price of oil fell below $ 0 for a short time as supply exceeded demand. The price has rebounded as stocks stabilize and hopes for a vaccine rise.
In Wichita Falls, several oil-related companies have received PPP loans in the range of $ 350,000 to $ 1 million, including Bridwell Oil Co., Burk Royalty Co., Eagle Oil & Gas and Gunn Oil Co. The loans have protected dozens of jobs locally, according to the treasury. Medders Oil Co. was listed between $ 150,000 and $ 350,000, protecting 13 jobs.
Locally owned and franchised restaurants have also received PPP loans, including El Tapatio Cafe & Cantina, Parkway Grill Inc., Parkway Grill North and Subway of Wichita Falls, in the range of $ 150,000 to $ 350,000.
A number of churches in Wichita Falls have received wage protection loans, such as First Baptist Church, from $ 350,000 to $ 1 million; First Christian Church, $ 150,000 to $ 350,000; First Presbyterian Church, $ 150,000 to $ 350,000, Faith Baptist, $ 150,000 to $ 350,000.
A few private schools were included in the list: Christ Academy, Notre Dame Catholic School, and Wichita Christian School.
In addition to Hospice of Wichita Falls, other nonprofits included in the Treasury release were the Boys Club of Wichita Falls and the Wichita Area Food Bank, Faith Mission and North Texas Area United Way.
Search the Texas Paycheck Protection Program Loan List
For a complete list of state entities that have received funds, search the list obtained from the treasury.
A close look at Wichita Falls can be launched in the top search bar.