The San Jose Repertory Theatre (a.k.a. San Jose Rep) was the first resident professional theatre company in San Jose, California. It was founded in 1980 by James P. Reber. In 2008, after the demise of the American Musical Theatre of San Jose, the San Jose Rep became the largest non-profit, professional theatre company in the South Bay with an annual operating budget of $5 million. In 2006, it was saved from impending insolvency by a $2 million bailout loan from the city of San Jose; this was later restructured into a long-term loan similar to a mortgage.