Anna Maria Island may avoid a cold winter, but few have escaped the financial impact of the coronavirus pandemic.
But some local businesses saw a slice of relief in funding from the federal government’s Paycheck Protection Program to help alleviate the economic impact of the pandemic and retain staff.
Island businesses requested and received $20,078,036 in loans through the PPP as of Dec. 10, according to publicaccountability.org.
Manatee County Commissioner Carol Whitmore told The Islander Dec. 10 that she had spoken with several business owners who depended on the loans to stay afloat.
“They were very appreciative,” Whitmore said. “They’ve lost this money due to no fault of their own. It’s a worldwide pandemic. So any way we can help all of our citizens … I’m all for it.”
Previously, the federal Small Business Administration only released approximated dollar ranges — no specific amounts — for PPP loans to the public exceeding $150,000. No information was given regarding loans under $150,000.
But the SBA cracked under pressure from journalists to reveal who received the taxpayer-funded loans, including a lawsuit filed under the Freedom of Information Act by several large media organizations, including the Washington Post.
The PPP was created under the federal Coronavirus Aid, Relief and Economic Security Act with the intention of stabilizing the economy.
Distribution of some CARES Act funds within Manatee County has been overseen by county staff, but PPP loans are processed by banks and approved by the SBA.
A PPP loan may be forgiven if at least 60% of the money is spent on employee payroll. Otherwise, the loans carry a 1% interest rate and must be paid back within two years.
Anna Maria businesses and nonprofits received more total PPP loans than any other city on the island, with $10,288,682 distributed throughout the municipality as of Dec. 10.
Some of the largest loans distributed in the city include $3,234,997 to GMI Holdings Co., the corporate entity for Galati Marina and Yacht Sales; $496,500 to Suzor Properties, owner of the Waterfront Restaurant; $375,300 to Agnelli Pools and Construction; $349,700 to Taqueria Restaurants Group, operator of Poppo’s Taqueria; and $310,715 to Anna Maria Island Accommodations Inc.
Other notable PPP loans in Anna Maria include $293,173 to the Rod & Reel Pier, $84,215 to the Center of Anna Maria Island and $67,700 to Roser Memorial Community Church.
Businesses and nonprofits in Bradenton Beach received $3,682,003 in PPP loans — the least funding of the three island cities.
The largest recipients of PPP aid in Bradenton Beach include $471,500 to Koko and Associates, operator of Gulf Drive Cafe; $288,300 to the Bridge Tender Inn; $242,401 to Wicked Taco; $229,600 to Excellence in Restaurants, operator of Island Time Grill and Bridge Street Bistro; and $202,953 to Vacation Property Management Inc.
No other entity in Bradenton Beach received a loan larger than $150,000.
Other loans distributed in the city include $121,500 to Bazzy Marine Corp., $98,100 to the Bridge Street Bazaar — owned by Commissioner Jake Spooner — and $69,200 to the Anna Maria Island Moose Lodge.
Holmes Beach businesses and nonprofits received $6,107,351 in loans through the PPP.
Over a 10th of those funds — $638,205 — went to LaPensee Plumbing Inc. Christie’s Plumbing Co. received $552,400, the second-largest PPP loan in the city. Florida Gulf Coast Vacation Homes came in third, with a $363,700 loan; and $215,900 went to the Center for Early Childhood Education, based at 512 77th St., a residential address.
Other notable loans within the city include $359,900 to Mainsail AMI Marina, operator of the Waterline Resort; $230,479 to the Beach Bistro; $199,707 to Lets Do This Beaches LP; and $118,360 to the Freckled Fin Restaurant.
Local restaurateur Ed Chiles’ businesses received three of the five largest loans distributed on the island, with $1,412,622 for the Sandbar, $1,168,582 for the Beach House and $555,769 for the Mar Vista Dockside Restaurant.
The Islander newspaper received PPP funding of less than $$60,000.
Local loans were distributed through numerous banks, including Hancock Whitney Bank, Centennial Bank, the Bank of America, Wells Fargo Bank and the First Home Bank.
The county, at press time, was reviewing more than 900 applications for funding under the CARES Act, according to Whitmore.
She said she’d received several calls from business owners concerned about getting loans approved before a Dec. 31 deadline.
“Just don’t give up,” she said. “This money is owed to you, but you just have to go through the process.”
Search and find
To search the Paycheck Protection Program loan data, go online to the Accountability Project at publicaccountability.org.
Select “PPP Loans” in the filter tab and enter a search term: business name, address, city or ZIP code.
20 largest island PPP loans, recipients
- $3,234,997 to GMI Holdings Company, owner of Galati Marina and Yacht Sales, 900 S. Bay Blvd., Anna Maria;
- $1,412,622 to the Sandbar Restaurant, 100 Spring Ave., Anna Maria;
- $1,168,582 to the Beach House Restaurant, 200 Gulf Drive N., Bradenton Beach;
- $638,205 to LaPensee Plumbing, 401 Manatee Ave., Holmes Beach;
- $555,769 to the Mar Vista Dockside Restaurant, 760 Broadway St., Longboat Key;
- $552,400 to Christie’s Plumbing Co., 5508 Marina Drive, Holmes Beach;
- $471,500 to Koko and Associates, operator of Gulf Drive Cafe, 900 Gulf Drive N., Bradenton Beach;
- $375,300 to Agnelli Pools and Construction, 208 Pine Ave., Anna Maria;
- $363,700 to Florida Gulf Coast Vacation Homes, 3018 Ave. C, Holmes Beach;
- $359,900 to Mainsail AMI Marina, operator of the Waterline Resort, 5325 Marina Drive, Holmes Beach;
- $349,700 to Taqueria Restaurants Group, operator of Poppo’s Taqueria, 401 Pine Ave., Anna Maria;
- $310,715 to Anna Maria Island Accommodations, 315 Pine Ave., Anna Maria;
- $293,173 to the New Rod and Reel Pier, 875 N. Shore Drive, Anna Maria;
- $288,300 to Bridge Tender Inn, 135 Bridge St., Bradenton Beach;
- $242,401 to the Wicked Taco, 101 Seventh St. N., Bradenton Beach;
- $230,479 to Beach Bistro, 6600 Gulf Drive, Holmes Beach;
- $229,600 to Excellence in Restaurants, operator of Island Time Bar & Grill and Bridge St. Bistro, 111 Gulf Drive S., Bradenton Beach;
- $215,900 to Center for Early Childhood Education, registered to Janice Mattina, 512 77th St., Holmes Beach;
- $213,193 to AMI Locals, registered by attorney Louis Najmy, 9801 Gulf Drive, Anna Maria;
- $202,953 to Vacation Property Management, 1501 Gulf Drive N., Bradenton Beach.
Sources: publicaccountability.org and sunbiz.org.