Gentner Drummond’s Bank Rewarded Political Donors By Approving PPP Loans

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TULSA, OK – After using his own bank to approve pandemic relief funds for Drummond Cattle and Drummond Communications, Gentner Drummond’s bank approved Paycheck Protection Program loans for his political donors.

Not only did Gentner Drummond’s business accept over $3 million in COVID-19 relief funds from the federal government, but he also used his bank to approve PPP loans for his political donors,” said John O’Connor spokeswoman Amy Wenham.  “If Gentner Drummond becomes Attorney General, it’s fair to wonder what other special privileges he will grant to his political donors, and it’s why Oklahomans can’t trust him.”  

BACKGROUND:

Gentner Drummond received over $3 million in PPP loans from the federal government that were later forgiven.  “Oklahoma AG candidate’s businesses received pandemic relief funds from his bank Gentner Drummond, a wealthy Tulsa businessman who said he plans to spend millions on his campaign for state attorney general, received $3.6 million in pandemic relief funds for several of his businesses, using his own bank to review some of the applications and to administer the money. … In 2020, three of Drummond’s businesses — a cattle ranch, a chain of cellphone retailers and a law firm —  received a combined $1.9 million in Paycheck Protection Program loans that were later forgiven by the federal government, according to data from the Small Business Administration and ProPublica. The next year, during another round of PPP funding, Drummond’s three businesses received another $1.7 million, this time administered through Blue Sky Bank, where Drummond is the majority owner.  Blue Sky Bank was eligible for $62,337 for processing fees to administer the three loans, according to lender compensation information from the Treasury Department.  It made another $8,161 in interest from the loans, which were paid off by the federal government.” (The Oklahoman, 05/25/22)

Gentner Drummond used his own bank for PPP funds.  “When Drummond’s businesses applied for the first round of PPP funds, they used First Bank of Oklahoma. Their second application went through Drummond’s bank.” (The Oklahoman, 05/25/22)

Gentner Drummond’s bank approved the PPP loan to McNeil Wells Services, who donated to his failed 2018 campaign for attorney general. “In January 2021, Blue Sky Bank provided a PPP loan of more than $194,000 to McNeil Well Services. In June 2021, the owner of McNeil Well Services gave $1,000 to Gentner Drummond’s campaign for attorney general.” (ProPublica PPP Loan Tracking Database, Accessed 05/25/22) 

Gentner Drummond’s bank approved the PPP loan to Cowen Construction, who donated to his failed 2018 campaign for attorney general. “In January 2021, Blue Sky Bank helped Cowen Construction in Tulsa get more than $1 million in PPP loan money. In June 2021, the president of Cowen Construction gave $2,900 to Gentner Drummond’s campaign for attorney general. (ProPublica PPP Loan Tracking Database, Accessed 05/25/22) 

Gentner Drummond’s bank approved the PPP loan to Fechner Pump & Supply, who donated to his failed 2018 campaign for attorney general.  “Blue Sky Bank helped Fechner Pump & Supply receive a PPP loan of more than $300,000 in 2020, and in 2021, the owner of Fechner Pump & Supply gave $1,000 to Gentner Drummond’s campaign for attorney general.” (ProPublica PPP Loan Tracking Database, Accessed 05/25/22)