The Myrtle Beach Area Chamber of Commerce received $673,305 in Paycheck Protection Program funds in 2021.
The original loan was fully forgiven by the U.S. Government.
PPP is a SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis.
The SBA is the Small Business Administration.
The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.
According to data compiled by ZOOM INFO, the Myrtle Beach Area Chamber of Commerce has 45 employees.
MBACC C.E.O. Karen Riordan, makes over $309,000 annually per 2020 tax returns filed by the “not for profit” organization.
100% of the loan request was for employee salaries during the Covid pandemic.
The chamber promotes itself out of market as Visit Myrtle Beach South Carolina and informs tourists as to when is the best time to visit Myrtle Beach.