Tiburon Peninsula companies get millions in bailout program
More than 300 Tiburon and Belvedere businesses and nonprofits combined to receive up to $52.3 million to cover rent, utilities and the payroll of nearly 2,400 workers under the federal Paycheck Protection Program, the forgivable-loan initiative designed to help businesses retain staff amid the economic fallout of the COVID-19 pandemic. By far the largest local recipient was Tiburon resident Allan H. Rappaport’s NES America Inc., the parent company for many emergency- and health-care-staffing companies scattered throughout the world, whose headquarters are at 39 Main St. Its three Tiburon entities were approved for loans of as much as $16 million, according to data released last week by the U.S. Small Business Administration. See a grid of all the $150,000-plus loan approvals for Tiburon, Belvedere and Strawberry at thearknewspaper.com/ppploans.
For the complete story, pick up this week's edition of The Ark on newsstands or SUBSCRIBE NOW for home delivery.