The NBA’s Lakers, worth $4 billion, received a $4.6 million small business loan from the stimulus program

LOS ANGELES — The Los Angeles Lakers have repaid a loan of roughly $4.6 million from coronavirus business relief funds after learning the program had been depleted.

See also: CrossFit’s ‘Fittest Man on Earth’ and ‘Fittest Woman on Earth’ offer tips on how to stay in shape while stuck at home“The Lakers qualified for and received a loan under the Payroll Protection Program,” the statement read. “However, once we found out the funds from the program had been depleted, we repaid the loan so that financial support would be directed to those most in need. The Lakers remain completely committed to supporting both our employees and our community.

The Treasury Department issued further guidance for the loan program last week, asking companies not to apply for the funds if they don’t need the cash to survive.

I doubt it has anything to do with conscience. It’s fear of the scandalous audit that will begin shortly. They thought the money is out for grabs.4 billion dollars is not enough, they want a bit more. What a sad joke. People who really need the money can’t access it.

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Even The LA Lakers Got A PPP Small Business LoanThe Los Angeles Lakers — one of the NBA's most profitable franchises — have returned money they received from a federal loan program intended for small companies. More than 200 public companies are still holding onto money from the program. Sure do love them little ma-&-pa NBA franchises. Publicly traded companies have shares they can issue or various other ways to raise money this whole PPP Small Business Loan program is a complete fraud joke corruption whatever federalreserve Where can we find a list of these public companies?
Source: NPR - 🏆 96. / 63 Read more »