SBA releases names of Grand Strand businesses that received less than $150K in PPP loans
MYRTLE BEACH, S.C. (WMBF) – The names have been released of Grand Strand businesses who received $150,000 or less in Payment Protection Program (PPP) loans.
The PPP came from the $2 trillion CARES Act to help businesses who faced economic challenges during the coronavirus pandemic. The money could be used to help keep employees on the payroll and also pay interest on mortgages, rent and utilities. The SBA will forgive loans if all employee retention criteria is met and the funds are used for eligible expenses.
The Treasury Department revealed that about 650,000 mostly small businesses and nonprofits received loans from the program.
Back in July, the Small Business Administration released two lists. One showing businesses that received $150,000 or more and those that received less than $150,000.
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Originally, the names of those who received less than $150,000 in loans were not released. But several media organizations sued to have the names released and the judge ruled in their favor. The Small Business Administration released the data earlier this week.
WMBF News looked through the thousands of businesses that received PPP loans. Data shows 2,875 businesses with Myrtle Beach addresses received loans, 434 with North Myrtle Beach addresses and 179 businesses in Surfside Beach.
Most of the businesses are restaurants, hotel groups, churches, medical offices and retail shops.
We found that the Clemmons Law Firm, owned by former state Rep. Alan Clemmons, received a $123,058 loan and the Lazarus Entertainment Group, owned by former Horry County Council Chairman Mark Lazarus, received a $113,541 loan.
The Gibson Development, which runs SweetFrog locations, was at the top of the loan list with $149,700 with 62 employees. Benitos Brick Oven restaurant received the most in North Myrtle Beach with a $148,862 loan and South Strand Dental Associate topped the $150,000 or less loan list in Surfside Beach by receiving a $145,900 loan.
Some other well-known organizations that received loans were the Grand Strand Humane Society, which received a $127,537 loan, and Molly Darcy’s restaurant in North Myrtle Beach was given a $146,200 loan.
List of Myrtle Beach businesses that received $150,000 or less loans:
List of North Myrtle Beach businesses that received $150,000 or less loans:
List of Surfside Beach businesses that received $150,000 or less loans:
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