Tom Brady gets an almost 1 million dollar bail out from the taxpayers. The guy that gets 25 million a year to play football has to be saved by the taxpayers.
Tom Brady's Company TB12 Received More Than $960,000 PPP Loan
All while the working class took pay cuts.
https://www.cnbc.com/2020/12/08/1-in-3-workers-faced-pandemic-pay-cuts-but-recovery-is-uneven.html
So, it is a loan, and it is to go to his employees. How exactly has the taxpayer bailed him out if he pays it back? Isn't that the entire schtick when it comes to government motors?
He will probably never have to pay it back.
Meanwhile business are going belly up and the rich man get a loan that he will never pay back for his sports business.
SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.
- PPP loans have an interest rate of 1%.
- Loans issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.
- Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks).
- No collateral or personal guarantees are required.
- Neither the government
Paycheck Protection Program (sba.gov)
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just because he knows tramp. all of tramp buddies got these loans.