Home Music bank Jay Jacobs’ firm raised $6 million in PPP loans, donated to Cuomo, Hochul

Jay Jacobs’ firm raised $6 million in PPP loans, donated to Cuomo, Hochul


The embattled Democratic State Committee boss has quietly raised $6.1 million in federal pandemic relief loans for various businesses he runs — yet those businesses donated $54,000 over the course of the same period to gubernatorial campaigns. Hochul and Cuomo, according to the records.

Jay Jacobs – who is facing calls for mostly progressive members of his own party to resign due to poor performance by state Democrats in last week’s election – owns or is a top executive of at least 11 businesses, including several summer camps in New York and Pennsylvania, which got a combined $2,919,844 in Paycheck Protection Program loans for 2020 and another $3,194,596 last year, records show. The money was used to pay the salaries of hundreds of full-time employees.

Despite seeking taxpayer assistance to operate during the pandemic, Jacobs’ businesses — which include Timber Lake Camp in upstate Shandaken, NY and Tyler Hill Camp in Pennsylvania — have found enough cash available. to donate $40,000 and $14,000 to the campaigns of longtime allies Hochul and Cuomo in 2020 and 2021, respectively, according to state records.

Jay Jacobs has endorsed Governor Kathy Hochul for the governorship of New York State.

A photo of Jay Jacobs shaking hands with US Senate Democratic Leader Chuck Schumer.

Jacobs and Senate Democratic Leader Chuck Schumer greet each other during a midterm election night.

Some Democrats have asked the US Small Business Association, which oversees the PPP program, to check whether Jacobs misused the loans.

“If that’s true, that’s completely hypocritical,” said Sen. Jessica Ramos (D-Queens). “If you’re really going through a tough time, then you don’t have money to give to your favorite political candidates.”

Jacobs denied that the loan money went to his political friends’ campaign funds.

Aerial view of Timber Lake Camp in upstate Shandaken, NY

Timber Lake Camp in upstate Shandaken, New York, is one of many businesses to have received PPP money.

Another Jacobs company that has donated to political campaigns is Tyler Hill Camp in Pennsylvania.

Another company run by Jacobs is Tyler Hill Camp in Pennsylvania.

“Any implication that PPP money was used for campaign contributions is patently and factually untrue – both in terms of when we received it and whether the PPP loans were reviewed. by the SBA and have verified that they are for the purpose for which they were intended. to,” Jacobs said.