In the event you don’t run a small enterprise, you may need already forgotten concerning the Paycheck Safety Program (PPP).

Early within the COVID-19 pandemic, as many companies have been struggling to remain afloat throughout lockdown, the federal authorities launched a aid program for companies with as much as 500 staff.

This system offered loans whose full quantities might be forgiven below sure circumstances, which amounted to performing in good religion: utilizing the cash to take care of worker payroll and pay different crucial bills like enterprise hire and utilities.

However as we detailed in “11 Eating places That Filed for Chapter Amid COVID-19,” even tens of millions in PPP loans couldn’t preserve some companies afloat.

This system was additionally a gorgeous goal for fraud, with as a lot as $80 billion stolen, in keeping with some estimates.

Then there are the PPP loans made to celebrities most individuals in all probability wouldn’t take into account strapped for money.

A database of mortgage data from the U.S. Small Enterprise Administration, created by nonprofit publication ProPublica, reveals that family names borrowed tens of millions of {dollars} — and plenty of of them have had their loans partially if not totally forgiven.

Right here’s a have a look at some celebrities who acquired free cash out of the Paycheck Safety Program, with some receiving a number of loans.

Tom Brady

Mortgage applicant: TB12 Inc., a health and dietary complement firm co-founded by Tom Brady. The champion quarterback of the Tampa Bay Buccaneers and New England Patriots just lately accepted a 10-year sportscaster contract value $375 million, greater than the $333 million earned in his NFL profession, in keeping with The Bleacher Report.

Mortgage quantity: $960,855

Quantity forgiven: $972,280 (consists of curiosity)

What the applicant stated they’d spend the funds on: Payroll

Reese Witherspoon

Mortgage applicant: Draper James LLC, a girls’s clothes firm based by Reese Witherspoon. The actress and producer was value $400 million as of 2021, in keeping with Forbes.

Mortgage quantities: $975,472 and $719,222

Quantities forgiven: $987,793 and $726,310 (figures embrace curiosity)

What the applicant stated they’d spend the funds on: Payroll and hire

Jared Kushner

Mortgage candidates: An organization within the publishing trade (Observer Holdings LLC) and two within the lodge trade (Princeton Forrestal LLC and Esplanade Livingston LLC) which might be tied to Jared Kushner. The son-in-law of former President Donald Trump and senior adviser throughout his time period is a businessman value round $800 million as of 2019, in keeping with Enterprise Insider.

Mortgage quantities:

• Observer Holdings LLC: $800,407
• Princeton Forrestal LLC: $1,569,977 and $2 million
• Esplanade Livingston LLC: $630,735 and $883,029

Quantities forgiven:

• Observer Holdings LLC: $805,676 (consists of curiosity)
• Princeton Forrestal LLC: $1,588,337 and $2,023,000 (figures embrace curiosity)
• Esplanade Livingston LLC: $636,219 and $890,674 (figures embrace curiosity)

What the candidates stated they’d spend the funds on: Payroll and hire

Paul Pelosi

Mortgage applicant: EDI Associates, a restaurant enterprise owned partially by Paul Pelosi. The husband of U.S. Home Speaker Nancy Pelosi and a enterprise capitalist is value round $120 million, in keeping with Superstar Web Price.

Mortgage quantities: $711,708 and $996,392

Quantities forgiven: $720,658 and $1,002,343 (figures embrace curiosity)

What the applicant stated they’d spend the funds on: Payroll

Khloe Kardashian

Mortgage applicant: Good American LLC, a girls’s clothes firm cofounded by Khloe Kardashian. The fact TV star and enterprise proprietor had an estimated internet value of round $40 million as of 2018, in keeping with Cash.

Mortgage quantity: $1,245,405

Quantity forgiven: $1,257,306 (consists of curiosity)

What the applicant stated they’d spend the funds on: Payroll, hire and well being care

Inexperienced Day

Mortgage candidates: Inexperienced Day Inc. and Inexperienced Day Touring Inc., companies for Inexperienced Day. The rock band acquired two of its loans totally forgiven and the opposite two partially forgiven. Every of the present band members — Billie Joe Armstrong, Mike Dirnt and Tre Cool — is value between $55 million and $75 million, in keeping with Superstar Web Price.

Mortgage quantities:

• Inexperienced Day Inc.: $97,285 and $135,805
• Inexperienced Day Touring Inc.: $219,212 and $183,965

Quantities forgiven:

• Inexperienced Day Inc.: $98,213 (consists of curiosity) and $68,992
• Inexperienced Day Touring Inc.: $218,795 and $185,986 (consists of curiosity)

What the candidates stated they’d spend the funds on: Payroll, hire, well being care and utilities

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