Homeowners association on private SC island received federal bailout funds amid pandemic
The homeowners group on another private island near Charleston — Dewees Island — has accepted money from the federal bailout fund meant to assist small businesses and nonprofits financially damaged by the coronavirus pandemic.
An email obtained The Post and Courier shows the property owners association on Dewees, north of Charleston, received a $218,315 Paycheck Protection Program loan from the U.S. Small Business Administration.
The group isn’t the first local property or homeowners association to tap into the emergency loan program, to which Congress appropriated $649 billion.
Kiawah Island, south of Charleston, also received funding through its private community association, but later returned the money following public outcry.
Read more: https://www.postandcourier.com/business/homeowners-association-on-private-sc-island-received-federal-bailout-funds-amid-pandemic/article_ff80218a-a5a6-11ea-80c1-839f86bfe0d7.html