Personal golf neighborhoods and gated neighborhood land owners’ associations in Beaufort County acquired at least $8.5 million in small company loans throughout the national government’s enormous Paycheck Protection Program, information reveal.
The loans, that can be forgivable, ranged from at least $150,000 to $1 million annually, based on data published in early July by the Small Business Administration and the U.S. Department of the Treasury. The program has been created to aid small business owners pay for worker cover or lease, among other items. The loans were computed according to payroll requirements.
The $660 billion PPP was included in Congress’ $2 trillion CARES Act, a sprawling financial relief package that was passed in March to deal with fiscal fallout of COVID-19.
Some POAs at Beaufort County last month said the program helped them keep workers as the coronavirus disperse throughout the Lowcountry, although most wouldn’t say precisely how they utilized the loans.
However one Charleston County POA attracted the ire of country leaders earlier this season after taking benefit of this PPP.
U.S. Rep. Joe Cunningham, a Democrat who represents South Carolina’s 1st Congressional District, criticized the Kiawah Island Community Association for accepting a $1 million PPP loan.
“Congress approved the spending of billions of dollars in taxpayer money to help small businesses weather this storm and keep paychecks going to their employees, not pad the pocketbooks of giant corporations or wealthy community associations that have millions of dollars in reserve,” Cunningham said in a statement released by his office in April.
The Kiawah Island institution introduced its loan following the people rebuke.
PPP loans at Beaufort County
The SBA on July 6 revealed the names of companies and nonprofits that obtained a PPP loan of $150,000 or longer, according to officials, even though a few neighborhood business owners dispute the data’s loan ranges.
The subsequent POAs and personal golf communities in Beaufort County each obtained PPP loans of $1 million to $2 million, according to the information:
Additional POAs and personal golf communities acquired loans of $350,000 to $1 million, the statistics reveal:
The Spring Island Property Owners Association also obtained a loan of $150,000 to $350,000, according to the data.
What was the money invested?
POAs and personal golf communities in Beaufort County retained 989 tasks using PPP loans, according to the SBA data. It’s unclear, however, how accurate those numbers are.
Berkeley Hall, by way of instance, utilized its PPP loan to maintain about 45 workers on the taxpayers who would have been furloughed, based on general manager Adam Kushner. The team at the information was recorded as being retained 134 occupations using a loan of $1 million to $2 million. That’s near the club’s overall number of workers, Kushner said.
Similar discrepancies are noted throughout the nation, with various companies asserting the “jobs retained” information is simply erroneous.
General supervisors at half of those POAs and personal golf communities which got PPP loans from the county did not answer multiple telephone calls seeking comment for this story.
Shelle McDermott, an executive assistant to the CEO in Haig Point Club on Daufuskie Island, told The Island Packet she wasn’t interested in commenting about the club’s loan of $1 million to $2 million.
Likewise, general director Leon Crimmins of the Long Cove Club declined to comment on the club owners’ association’s loan, that had been between $350,000 and $1 million.
At Sea Pines, a PPP loan of $1 million to $2 million aided Community Services Associates maintain 110 jobs, according to the SBA data.
Victoria Shanahan, Sea Pines CSA manager of finance and management, in an email stated the institution used the loan to maintain all workers on the payroll through the pandemic and also to finance gains.
Shanahan reported the loan was also utilized to “offset the significant decline in revenues generated during normal operations,” mentioning months of diminished gate fee sets. It prices single-day traffic $9 to enter Sea Pines.
No Sea Pines CSA workers were furloughed because of the pandemic, Shanahan said.
Bill Griffon, general director at Spring Island, in an email stated the island’s POA utilized a loan of $150,000 to $350,000 to maintain all workers working full time since the coronavirus spread Throughout the state. He didn’t respond to some follow-up telephone message.
Kushner, the general director at Berkeley Hall, in an interview said that the club’s PPP loan went entirely into citizenship.
The team, he said, is currently facing a $1 million top-line reduction this season as a result of the pandemic. Otherwise to the loan, approximately 45 individuals would have been furloughed, ” he explained.
“We were able to keep people employed,” Kushner explained. “I think it’s been crucial.”
Berkeley Hall needed to cancel weddings and briefly shut the golf course and its own cottages to guests, he explained. Thirty percent of this club’s yearly revenue comes from “outside revenue,” that includes occasions, ” he explained.
The team, he said, is exactly as any other small company. Along with the pandemic upended its operations that spring, he explained.
Returning one loan
Bill Kennedy, general director of Chechessee Creek Club at Okatie, stated he had been actively returning the club’s $350,000 to $1 million PPP loan. Areas Bank accepted the loan, according to the SBA data.
“He does not feel good about it,” stated Kennedy, speaking to the club’s proprietor, who declined to mention.
Kennedy stated the club hasn’t furloughed any workers as a result of pandemic.
As stated by Golf Club Atlas, a golf course structure site, David Proctor purchased Chechessee Creek Club at 2012.
Proctor is recorded on the site for a main at Jane Street Capital, an international quantitative trading company. He didn’t respond to telephone calls or mails this week asking clarification on why he wished to reunite the loan.
Beaufort County, SC businesses that got PPP loans
Here is a searchable list of PPP loan recipients. Some businesses have contested the loan amounts reported below.