Mount Pleasant Magazine July/August 2020

26 www.ReadMPM.com | www.MountPleasantMagazine.com | www.VOICEofMPpodcast.com The downside to this influx of $659 billion in federal help was that many small business owners, lacking the legal and accounting resources that are commonplace among larger companies, were wary of navigating the maze of rules and regulations that always seems to accompany government programs. In the Mount Pleasant area, however, local bankers stepped up to the plate to help their regular customers – and, in some cases, entrepreneurs who had been doing business with some of the larger financial institutions – obtain the funds necessary to survive a drastic drop in business without cutting their employees loose. COVID-19 packed a serious gut punch for Ben Toy and his wife, Dana, owners and operators of two local businesses that depend on the tourist trade to make ends meet. Visitors to the Charleston area who are in town each year for various festivals and events or just to see relatives also spend time at Nature Adventures, renting kayaks and paddleboards, taking lessons and participating in team- building activities. With the Cooper River Bridge Run, the Volvo Car Open and the Flowertown Festival all canceled this year due to the pandemic, their business plummeted drastically. “We lost spring break and all of March and April,” said Toy. “The weather is beautiful here, and getting on the water is the thing to do. Every event in Charleston is a spike for us.” Their other business, On Purpose Adventures, took an even bigger hit. The company, which plans and executes an array of events across the country and even internationally on occasion – from team-building to company retreats to family reunions – was all but shut down by travel restrictions. Toy was able to keep his employees on the payroll and pay his rent, insurance premiums and other expenses because he obtained PPP loans – $44,000 for Nature Adventures and $10,000 for On Purpose Adventures – with the help of Jonathan Peavey, business development officer at Beacon Community Bank. “Jon was absolutely incredible,” said Toy, who explained that he originally met Peavy through the Mount Pleasant Chamber of Commerce. “He was calling at 11 at night. With all the unknowns, he hand-held us through the entire process. He went above and beyond what any banker would normally do.” Toy, who was not a Beacon customer before the pandemic, said he is in the process of changing that situation. “Without the PPP, we’d be in dire straits right now,” he concluded. Toy was not the only local businessperson who received a helping hand from Peavey. Bet Rhodes and her husband, Vinnie, own Sea Island Medical Care, which opened for business only a year ago. She said their bank “wasn’t doing Photo by Juli Kaplan. Ben Toy, local business owner. Photo by Juli Kaplan.