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Thread: Lakers got money from loan program, returned it

  1. #1
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    Default Lakers got money from loan program, returned it

    LOS ANGELES -- The Los Angeles Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic, the team said in a statement to ESPN on Monday.

    The Lakers, one of the NBA's most profitable franchises, applied for relief through the Small Business Administration's Paycheck Protection Program, and were among the companies and nonprofits granted loans during the first round of distributions. But after reports that several large or highly capitalized entities were securing aid from the program's initial $349 billion pool -- while hundreds of thousands of smaller businesses were shut out -- the Lakers said they returned the money.
    rest - https://www.espn.com/nba/story/_/id/...am-returned-it

    How did they, being one of the NBA's most profitable franchises, even qualify??????

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  3. #2

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    Information like this needs to be more readily available. We probably give a lot of money to rich people.

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  5. #3

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    Quote Originally Posted by cowboyman View Post
    I'm very interested in how the Lakers would pay off the loan if it weren't this social assistance. It's also very insulting for small businesses that haven't received funding from the state to stay afloat. This pandemic will close a very large number of small businesses and leave them in debt. I recently spoke with colleagues from Debt Collectors they told me that they have bought more than 10,000 loans and their employees visit debtors daily to get a loan. Unfortunately, most of our citizens are left financially helpless and unable to pay off loans, and their lives are turning into hell because of collectors. Terrible.
    The Lakers just got tired of subsidizing everyone else so they wanted in on it.
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    It's not fair.. I agree
    I opened a small cafe and after all the problems I did not even get help from the state, now the problems are even in my personal life....
    Later I tried to take out a loan to restore my small business, so far everything is going well, but there are still risks. My wife left me and filed for divorce. I decided to leave her the house so I had to take out a mortgage on a small apartment as there were no funds at all. I was helped by the guys from https://www.Sheffieldmoneyman.com who are in charge of this whole process, as I do not have the strength for anything at all. I hope that everything will finally work out.
    Last edited by TuyeElson; 02-02-2021 at 03:20 PM.

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    Interesting first post? Sorry to hear about your hardships if true. Welcome to the board...
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    Probably the payroll Protection Program, a loan program offered by the Small Business Administration, is confusing as hell. The program launched as part of the Coron 2.2 trillion coronavirus rescue legislation provides loans of up to 10 million to small businesses. So they can continue to pay essential expenses such as salary, rent, and utilities. And https://www.Newcastlemoneyman.com doesn't have much income now because many are saving their money for fear of a crisis again.

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    The small franchises that only exist due to the Lakers should have to fly thank you LA banners in their stadiums.

    That's the real story!
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    Quote Originally Posted by TuyeElson View Post
    It's not fair.. I agree
    I opened a small cafe and after all the problems I did not even get help from the state, now the problems are even in my personal life....
    Later I tried to take out a loan to restore my small business, so far everything is going well, but there are still risks. My wife left me and filed for divorce. I decided to leave her the house so I had to take out a mortgage on a small apartment as there were no funds at all. I was helped by the guys from https://www.Sheffieldmoneyman.com who are in charge of this whole process, as I do not have the strength for anything at all. I hope that everything will finally work out.
    Is that so?

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