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Los Angeles Lakers return $4.6 million loan
received from Paycheck Protection Program

Original Article

Posted By: NorthernDog, 4/27/2020 8:10:18 PM

The Los Angeles Lakers applied for and received $4.6 million from the Small Business Administration’s Paycheck Protection Program but returned the money “so that financial support would be directed to those most in need,” the Lakers said in a statement. (Snip) The Lakers are worth $4.4 billion and were No. 1 in operating income at $178 million, according to the latest ‘Forbes’ NBA team valuations. The NBA also recently extended its line of credit to $1.2 billion for teams in need of cash. The SBA’s initial $349 billion program allowed business with less than 500 employees to borrow up $10-million

Comments:

How could an organization worth billions even dream of applying for these funds?

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Reply 1 - Posted by: Cardsfan 4/27/2020 8:15:52 PM (No. 393735)
Maybe so they could get this favorable publicity by returning it?
2 people like this.

Reply 2 - Posted by: pros7767 4/27/2020 8:26:09 PM (No. 393741)
Once again, WTP are getting screwed! A bunch of neighbors in my new brand development got their $1200 stimulus check and decided it would be a good time to take the money and use it towards golf carts to drive around in. My husband's former employer who doesn't need the money collected millions. And now this? C'mon people! In the meantime, neither of my kids will be getting a dime and we are middle class but they will pay for this for the rest of their lives. Seriously, enough already! I get more and more disillusioned every day...
8 people like this.

Reply 3 - Posted by: john56 4/27/2020 8:45:27 PM (No. 393754)
You gotta pay LeBron some how.
4 people like this.

Reply 4 - Posted by: Urgent Fury 4/27/2020 8:57:20 PM (No. 393763)
Investigate whoever approved a small business loan to the LA Freakin Lakers.
2 people like this.

Reply 5 - Posted by: JHHolliday 4/27/2020 9:29:58 PM (No. 393785)
Disgusting that they would actually apply for this money but the whole NBA are China a$$lickers. They need to ask their Chicom buds for the money. I wish the NBA would go belly-up but that won’t happen. Their low IQ fans will continue to support them with the welfare funds we give them.
6 people like this.

Reply 6 - Posted by: jalo1951 4/27/2020 9:40:45 PM (No. 393792)
Do I assume they have to apply for this money? Why the hell are they even applying?
3 people like this.

Reply 7 - Posted by: DVC 4/27/2020 10:52:47 PM (No. 393826)
And fire the worthless puke who applied for it.
1 person likes this.

Reply 8 - Posted by: joew9 4/27/2020 11:01:08 PM (No. 393832)
All the small businesses in my town have applied every which way to Sunday and can't even get a post card acknowledgement. Beginning to think this is all a scam.
2 people like this.

Reply 9 - Posted by: Paglia guy 4/27/2020 11:03:51 PM (No. 393834)
It’s not WHO but WHAT. What bank approved this loan? The loans are flowing through banks, people, and all the Lakers and SteakShack type applicants aren’t being stopped by the banking gatekeepers. Treasury and SBA should be sanctioning these bad banks. And watch which Congress critters howl!
1 person likes this.

Reply 10 - Posted by: stablemoney 4/27/2020 11:17:17 PM (No. 393848)
We see how much principles and ethics that the Los Angeles Lakers possess. None. And you would think the SBA might recognize an application from the Lakers, and think maybe it was a joke, and reject that application.
0 people like this.

Reply 11 - Posted by: Trigger2 4/28/2020 1:58:38 AM (No. 393911)
How the hell did they get the small business loan in the first place? Demonrats running the hand-out money again?
2 people like this.

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The Los Angeles Lakers applied for and received $4.6 million from the Small Business Administration’s Paycheck Protection Program but returned the money “so that financial support would be directed to those most in need,” the Lakers said in a statement. (Snip) The Lakers are worth $4.4 billion and were No. 1 in operating income at $178 million, according to the latest ‘Forbes’ NBA team valuations. The NBA also recently extended its line of credit to $1.2 billion for teams in need of cash. The SBA’s initial $349 billion program allowed business with less than 500 employees to borrow up $10-million
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