DMEA seeks Operation Round Up board members

Editor’s note: In the effort to provide full disclosure, Wick Communications, the parent company of the Montrose Daily Press, received a PPP loan of $2-5 million, which was accepted in April.

The U.S. Small Business Administration, through a press release on Monday, released information on which small businesses in Colorado received financial relief through the Paycheck Protection Program, which provided $600 billion nationwide in federal stimulus loans. In Colorado, 104,402 loans were approved, including 696 businesses in Montrose.

In Montrose County, 80 businesses received loans of more than $150,000. Of those 80 businesses, 42 retained 1,785 jobs (38 businesses were listed with zero jobs retained).

For federal paycheck loans under $150,000, 616 businesses in Montrose were approved for loans, 350 of which retained 2,211 jobs (266 businesses were listed with zero jobs retained). SBA did not release the names of the businesses or addresses for the loans under $150,000.

The list does not indicate whether the loan was funded or disbursed. The SBA's data only signifies that the loan was approved to the business.

As per businesses that were listed with zero jobs retained, Christopher Chavez, a regional spokesman for the SBA, said businesses weren’t required to provide the number of employees they retained, though in order to receive loan forgiveness, that information must be provided to the SBA.

“A business did not necessarily have to provide the number of employees to get their loan, though SBA asked for that information on the application. They will have to provide it in order to receive forgiveness because they will have to show their lender how many employees they have and how much they paid them,” Chavez said in an email on Wednesday.

Within SBA's report, it was noted loans will be forgiven if the loan is used for rent, utilities, payroll, and interest on mortgages. Additionally, at least 60% of the amount forgiven had to be used for payroll.

ppp loan screenshot

If salaries and wages are decreased, and full-time staff declines, forgiveness of the loan will be reduced, and those that are not forgiven will have an interest rate of 1%.

Delta-Montrose Electric Association was approved for a $2-5 million loan and a separate loan for $150,000-300,000 to its wholly owned subsidiary, DMEA-Elevate Fiber. Both loans were accepted, DMEA Chief Operating Officer Virginia Harmon confirmed on Wednesday.

Through the information SBA released, it listed DMEA retained zero jobs, which is incorrect, Harmon said. DMEA was able to retain 100% of jobs (104 on the DMEA side, and 11 for Elevate) since the loans were accepted in April and May.

“As critical infrastructure, our organization provides safe, reliable power to more than 41,000 citizens in Montrose and Delta counties, and having these funds ensures that we were able to remain ready to provide electric service and ride out all the unknown economic impact of COVID-19 and significant reductions in revenue,” Harmon said.

Since DMEA was able to retain all of its jobs for both organizations, Harmon said the expectation is the company will receive 100% loan forgiveness.

In addition to businesses being listed with zero jobs retained, a number of inconsistencies were found in the data SBA released. Owner of Snappy Nails in Broomfield told Steve Staeger, a reporter for 9News in Colorado, that the company’s two locations did receive a PPP loan for less than $100,000.

In the list provided by the SBA, Snappy Nails was listed as being approved for a $5-10 million loan. Chavez told The Colorado Sun the loan amount was due to data entry error by bank lender, Bank of the West. The data released on Monday does not reflect the amount that was adjusted prior to disbursement.

Wade Pynes, chief financial officer of DMEA, said on Wednesday the company has been working directly with its lender, Alpine Bank.

As someone who follows the SBA closely, Pynes provided some insight as to why there were a high number of inconsistencies in the data.

“They are significantly overwhelmed. This is the largest, fastest rolled out project in the history of the SBA,” Pynes said. “When you look at their public commentary, [SBA] talks about how overwhelmed they are, so I don’t want to fault them.”

Staff writer and digital content coordinator Lauren Brant contributed.

The Montrose PPP Loan Recipients

Loan Range Business Address Jobs Retained Lender
$2-5 million DELTA-MONTROSE ELECTRIC ASSOCIATION 11925 6300 Road 0 Alpine Bank
$2-5 million SAN JUAN CONSTRUCTION, INC. 401 EAST MAIN ST 217 American Savings Bank, FSB
$1-2 million COMMUNITY OPTIONS, INC 336 S 10th Street 0 Alpine Bank
$1-2 million SUMMIT SEALANTS, INC. 2450 North TOWNSEND AVE 100 Bank of Colorado
$350k-1 million BEST SIGN SYSTEMS, INC 1202 PARK AVE N 42 U.S. Bank, National Association
$350k-1 million BLUE DOG HEMP 236 South 3rd #404 20 Midwest Regional Bank
$350k-1 million CEDAR POINT HEALTH 300 S Nevada 0 Alpine Bank
$350k-1 million DEL-MONT CONSULTANTS INC 125 COLORADO AVE 0 Alpine Bank
$350k-1 million FLOWER MOTOR CO INC 2580 N TOWNSEND AVE 53 Timberline Bank
$350k-1 million HAWK CONTRACTING GROUP, LLC 2400 East MAIN ST 0 Home Loan State Bank
$350k-1 million MAYFLY GROUP HOLDINGS, LLC 1101 Mayfly Dr 50 First Bank and Trust Company of Illinois
$350k-1 million MONTROSE FORD-LINCOLN-MERCURY, INC. 100 MERCHANT DR 39 Timberline Bank
$350k-1 million OLATHE COMMUNITY CLINIC INC 308 Main Street 83 Bank of Colorado
$350k-1 million OUTWEST DRYWALL SUPPLY INC 1645 N TOWNSEND AVE 0 Wells Fargo Bank, National Association
$350k-1 million PARISH OIL CO., INC. 336 PO BOX 0 Home Loan State Bank
$350k-1 million PROSET CONSTRUCTION INC 1519 E MAIN ST 20 Bank of Colorado
$350k-1 million PROXIMITY SPACE, INC. 210 E MAIN STREET 13 First Southwest Bank
$350k-1 million RECLA METALS LLLP 136 S MAPLE AVE 0 Alpine Bank
$350k-1 million RIDGWAY VALLEY ENTERPRISES INC 1620 E MAIN ST 22 Timberline Bank
$350k-1 million SAN MIGUEL MOUNTAIN VENTURES LLC 2940 N Townsend Ave 0 Alpine Bank
$350k-1 million SHAVANO WOODWORKING, INC. 4656 N. Townsend Ave 65 Cross River Bank
$350k-1 million TEI ROCK DRILLS, INC 34 N SELIG AVE 39 Bank of Colorado
$350k-1 million THE PEDIATRIC ASSOCIATES 947 S 5TH ST 0 Home Loan State Bank
$350k-1 million THE SECRET CREEK GROUP LLC 28 W SOUTH 4TH ST 34 Timberline Bank
$350k-1 million TURNER AUTOMOTIVE INC 2262 E Main Street 43 Zions Bank, A Division of
$350k-1 million WESTERN COLORADO FINANCIAL SERVICES, INC. 438 EAST MAIN ST 113 Bank of Colorado
$350k-1 million WESTERN GRAVEL INC 3001 N TOWNSEND AVE 36 Timberline Bank
$350k-1 million WESTERN SKYWAYS, INC. 21 CREATIVE PL 0 Alpine Bank
$150,000-350,000 ALL FOR ONE LLC 1415 Hawk Parkway 40 Readycap Lending, LLC
$150,000-350,000 ALL STEEL INC 8498 6150 RD 0 Alpine Bank
$150,000-350,000 AMAC INC 72997 O72 RD 0 Timberline Bank
$150,000-350,000 ARVINS AT UNC INC 1320 S. TOWNSEND AVE 0 Alpine Bank
$150,000-350,000 B MILLER INC DBA RAINMAKER 60987 U.S. 50 20 Readycap Lending, LLC
$150,000-350,000 BLACK CANYON SURGICAL CENTER LLC 611 E STAR CT STE C 31 Timberline Bank
$150,000-350,000 BUSINESS OPTIONS MEDICAL BILLING LLC 2233 E MAIN ST 23 Timberline Bank
$150,000-350,000 CAM ELECTRIC INC. 22536 HIGHWAY 550 19 The Citizens State Bank of Ouray
$150,000-350,000 CAMP ROBBER, LLC 1515 Ogden Roard 36 Bank of Colorado
$150,000-350,000 CHAVEZ MASONRY LLC 1343 Fivemile Creek Ave. 12 The Citizens State Bank of Ouray
$150,000-350,000 COMMUNITY DENTAL CLINIC, INC. 87 MERCHANT DR 0 Alpine Bank
$150,000-350,000 CORNERSTONE CLUB, LLC 1000 Cornerstone Trail 0 Alpine Bank
$150,000-350,000 DAVIS SERVICE CENTER, INC. 2380 EAST MAIN ST 19 Bank of Colorado
$150,000-350,000 DEEPLY DIGITAL LLC 343 N 3RD ST 35 First Southwest Bank
$150,000-350,000 DMEA UTILITIES SERVICES LLC 11925 6300 RD 0 Alpine Bank
$150,000-350,000 ENGLAND FENCE CO, LLC 1568 NORTH TOWNSEND AVE 34 Bank of Colorado
$150,000-350,000 FIRST CONTACT MEDICAL SPECIALISTS, LLC 800 S 3RD ST 9 Bank of Colorado
$150,000-350,000 GALISO INCORPORATED 22 Ponderosa Court 31 Readycap Lending, LLC
$150,000-350,000 GODBE DRILLING LLC 62802 OHLM RD 0 Wells Fargo Bank, National Association
$150,000-350,000 HAYNES EXCAVATION, INC 12696 6450 RD 0 Home Loan State Bank
$150,000-350,000 HORIZON DINING #4 1515 VENTURE WAY 29 Cache Valley Bank
$150,000-350,000 IN MOTION HAND THERAPY, INC 611 E STAR CT Suite B 23 Timberline Bank
$150,000-350,000 INTERMOUNTAIN PATHOLOGISTS PC 800 S THIRD ST 0 Wells Fargo Bank, National Association
$150,000-350,000 IRON INDASTRIES, LLC 3171 PO BOX 0 Home Loan State Bank
$150,000-350,000 KEENAN'S PLUMBING & HEATING INC 2400 E Main Street Ste A 0 Alpine Bank
$150,000-350,000 KINIKIN PROCESSING LLC 72015 KINIKIN RD 0 Home Loan State Bank
$150,000-350,000 KUBOSKE CONSTRUCTION COMPANY, LLC 922 PO BOX 0 Home Loan State Bank
$150,000-350,000 LONG ENTERPRISES INC 1035 E MAIN ST 0 Alpine Bank
$150,000-350,000 MONTROSE AUTO BODY INC 1320 Airport Rd 0 Alpine Bank
$150,000-350,000 MONTROSE LODGING, LLC 1980 N. TOWNSEND AVE 0 Home Loan State Bank
$150,000-350,000 MONTROSE VETRINARY CLINIC PC 2260 S. TOWNSEND AVE 0 Home Loan State Bank
$150,000-350,000 MOUNTAIN BLADE RUNNER, LLC 2940 SLEEPING BEAR RD 0 Home Loan State Bank
$150,000-350,000 PAR MECHANICAL, INC 113 Rose Lane #A 0 Alpine Bank
$150,000-350,000 PEAK FAMILY MEDICINE 1550 E. NIAGARA RD A 0 Alpine Bank
$150,000-350,000 POWERSOURCE ELECTRIC INC. 2330 E MAIN ST 0 Alpine Bank
$150,000-350,000 PROSET INC 1519 E MAIN ST 12 Bank of Colorado
$150,000-350,000 REMINGTON OF MONTROSE GOLF CLUB, LLC 2500 BRIDGES DR 40 United Bank
$150,000-350,000 ROCKY MOUNTAIN AGGREGATE AND CONSTRUCTION LLC 23625 Uncompahgre Road 24 Timberline Bank
$150,000-350,000 SAN JUAN VETERINARY CLINIC INC 822 SPRING CREEK RD 20 Bank of Colorado
$150,000-350,000 SCOTT FLY ROD COMPANY 2355 AIR PARK WAY 46 U.S. Bank, National Association
$150,000-350,000 SERVICE PROFESSIONALS, LLC 1601 Election Way 45 First Southwest Bank
$150,000-350,000 SNIPP'S HEAT & AIR, INC 113 Rose Lane Unit C 22 Readycap Lending, LLC
$150,000-350,000 STARLIGHT LLC 3396 VALLEY WAY 44 Timberline Bank
$150,000-350,000 STRYKER AND COMPANY INC 236 S 3RD ST #310 0 Alpine Bank
$150,000-350,000 SYBARR PRESS, INC. 315 S 12TH ST 0 Home Loan State Bank
$150,000-350,000 VALLEY RESTORATION & CONSTRUCTION, INC 147 WATER AVE 0 Home Loan State Bank
$150,000-350,000 WESTERN COLORADO MAINTENANCE, INC. 1521 OXBOW DR SUITE 210 13 Timberline Bank
Load comments