Oklahoma AG Candidate’s Businesses Received Pandemic Relief Funds From His Bank

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The Oklahoman
Ben Felder
May 25, 2022
https://www.oklahoman.com/story/news/2022/05/25/gentner-drummonds-businesses-received-millions-pandemic-relief-funds-attorney-general-oklahoma/9775770002/

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. 

As the COVID-19 pandemic shut down businesses, the federal government issued Paycheck Protection Program loans in an effort to keep employees paid, especially at companies where access to capital was difficult. 

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

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. 

In 2018, Drummond spent nearly $2.36 million of his own money on a race for attorney general that he narrowly lost. When he announced his second campaign for attorney general last year, Drummond said he was prepared to spend another $2 million

Drummond’s campaign said he did not personally receive any of the pandemic relief funds as an employee and that before any federal funds were provided, “Mr. Drummond’s companies paid employees even though the businesses experienced rolling shutdowns due to local regulations and/or COVID outbreaks among employees.”

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. 

Drummond’s campaign said Blue Sky Bank followed the same application and loan forgiveness process for Drummond’s companies as it did all other customers. 

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