Los Angeles Lakers get, return $4.6M small business loan

[Disir]

The Los Angeles Lakers are worth $3.7 billion. Even so, they applied for and received a $4.6 million loan from the U.S. government’s newly implemented Paycheck Protection Program.

The government implemented the program to help small businesses during the COVID-19 pandemic.

But that’s not the end of this bizarre story. The Lakers have returned the money to the federal government.

National Public Radio reported earlier this week that the Los Angeles Lakers are among the companies that have given the loan money back to the government.

“The decision to give back the money comes amid complaints that many large companies are wrongly accessing a federal loan program intended to help small businesses hurt by the coronavirus pandemic,” NPR’s Jim Zarroli wrote.

Los Angeles Lakers get, return $4.6M small business loan – Latest Basketball News

www.court-side.com

That's really cool.

 

[Eric Arthur Blair]

That the Lakers got millions to begin with is scandalous and incredible. It's like something out of a comic book.

 

[BULLDOG]

It's good that they gave it back, even though the only reason they did that is because their PR would have been crushed if they didn't. The note worthy part of this is how quickly they applied for it. Just another example of how these multi-million dollar corporations are so used to having money thrown at them till they didn't even consider that the money wasn't intended for companies like them anyway.