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Arizona charter school got a PPP loan, gave $10 million to shareholder

Arizona charter school got a PPP loan, gave $10 million to shareholder
Craig Harris, Arizona Republic
© Patrick Breen/The Republic
Primavera's headquarters are located near Arizona Avenue and Warner Road in Chandler.
PHOENIX – Primavera online charter school, like many businesses this spring, sought help from the federal Paycheck Protection Program to weather the economic disruption of the COVID-19 pandemic.
The Chandler, Arizona, school received a PPP loan of nearly $2.2 million, the largest forgivable loan among the 132 Arizona charter schools that obtained them.
But Primavera's loan appears to have been more of a bonus than a lifeline.
The school, which like all Arizona public schools didn't lose state funding because of the pandemic, ended its fiscal year on June 30 with $8.8 million in the bank – almost double the annual payroll costs for its 85 teachers, records show.

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