Company rejects $2.7 million SBA crisis loan

PALMETTO — It Works, a Manatee County-based direct sales business behind a variety of beauty, personal care and wellness products, declined a $2.7 million loan it was approved for under the SBA’s Paycheck Protection Program.

Officials, in a statement, say the company applied for and was approved for the PPP loan, “in the interest of prudence as it transitioned its employees in the U.S. from working in the office to working from their homes.”

But the Palmetto-based company, the release adds, continues to “see stable and growing sales in April. To that end, the company opted not to close on the loan and hasn't faced any furloughs or layoffs during the COVID-19 crisis.”

"We decided to give the small businesses that are in greater need the opportunity to receive these funds," adds It Works Founder and CEO Mark Pentecost in the release. "It Works continues to grow during this time and we don't want to take the money from those who need it to survive and thrive."

The company's U.S. staff has grown from 20 to a staff of more than 160 in the past seven years, the release states. It Works offers a variety of daily-use, products, including its signature Skinny Brew, a coffee that helps burn fat and enhances energy with five plant-based sources of caffeine. It currently offers more than 30 beauty and nutrition products in 22 countries, with more than 100,000 independent distributors worldwide.