The Echo chamber- Part 2

According to data published by ProPublica, Echo Build LLC, a Monroe-based limited liability company owned and operated by Echols, received its first PPP loan of $38,742 on April 15, 2020, during the first round of the federal pandemic relief program. The loan was processed through Origin Bank and listed four jobs. The entire amount, plus accrued interest totaling $39,166, was ultimately forgiven. In February 2021, Echo Build LLC received a second PPP loan of $38,076 through Origin Bank during the program’s second round. That loan listed five jobs and was approved on February 4, 2021. The full amount, plus accrued interest totaling $38,345, was also forgiven.

In total, Echo Build LLC received $76,818 in PPP loans through Origin Bank. More than $77,500 was ultimately forgiven when accrued interest is included.

Origin Bank’s own board of directors documentation lists Ronnie Myrick as Chairman of Origin Bancorp, Inc. and Origin Bank. Myrick is Echols’ stepfather, according to sources close to the matter and supporting evidence mentioned in my previous article.

Myrick’s role is not a passive one. He is listed as Chairman in both the board of directors section and the bank management section of Origin Bank’s organizational records, indicating an active leadership position at the institution that processed and approved both of Echols’ forgivable loans.

Federal SBA rules governing the Paycheck Protection Program required lenders to manage conflicts of interest involving officers, directors, and their family members. Under 13 CFR 120.10, restrictions applied not only to bank directors themselves but extended to businesses in which close relatives of directors held an interest. SBA guidance further indicated that the risk of self-dealing could be mitigated through recusal of an officer or director from review or approval of loan applications involving family members.

It is not known whether Myrick recused himself from any involvement in the approval of Echo Build LLC’s loan applications.

Louisiana law requires elected officials to file annual personal financial disclosure statements with the Louisiana Board of Ethics. A review of Echols’ disclosures filed for the years 2021 and 2022, covering the periods during which both PPP loans were received, shows no reference to Origin Bank as a lender or creditor, and no reference to Ronnie Myrick in connection with any financial relationship or potential conflict of interest.

The apparent omission is notable given that the disclosure requirement exists specifically to surface financial relationships that could influence a public official’s decisions or create the appearance of self-dealing.

Echols declined to answer questions indefinitely submitted by this outlet stating he is running for congress and too busy. Below in the comments, I will post the link for his ethics, disclosures and the time period applicable, I encourage all readers to do any further research to form their own opinions.