The federal government passed the Paycheck Protection Program to provide emergency financial relief to small businesses during the coronavirus shutdown. Then why exactly did the Lakers and publicly traded companies like Shake Shack, Ruth’s Chris Steakhouse and Potbelly receive millions in funds that they had to return? Chris Cillizza explains.
SOURCES AND FURTHER READING:
How, exactly, did the LA Lakers get a 'small business' loan?
Glitches hamper second round of small business loan funding
NBA Team Values 2020: Lakers And Warriors Join Knicks In Rarefied $4 Billion Club
New York Knicks: Is James Dolan the Worst Owner in the NBA?
Lakers return $4.6 million coronavirus relief loan
Paycheck Protection Program
Ruth's Chris will return its PPP loans after Treasury says public companies should repay
Small business loan funds are tapped out: Here's what owners need to know now
Potbelly, Shake Shack, Axios: Here Are All The Companies Returning PPP Money After Public Backlash
About me:
I was named "best dressed" in 7th grade. That, along with being CNN's editor at large and author of the daily "Point" newsletter are my proudest achievements. Look for me here every Tuesday and Thursday to find out what’s really going down in politics.
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Writer: Chris Cillizza
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