(1-27-21) What mental health organizations received a loan from the Small Business Administration through its Paycheck Protection Program to keep its workforce employed during the Covid 19 crisis?
The federal government has made 4.8 million PPP loans, worth a staggering $521,483,817,756. A second round is now in the works.
In the beginning, there were numerous complaints about who received forgivable tax dollars. Tampa Bay Buccaneers Quarterback Tom Brady, who signed a two year $50 million football contract, got nearly a $1 million loan for TB12, a company that hawks his t-shirts and other Brady items. Evangelist Joel Osteen collected $4.4 million in PPP funds for his megachurch. The Los Angeles Lakers got $4.6 million but were shamed into returning it.
The SBA moved to tighten rules and Congress took steps to insure that the bulk of funds went to smaller businesses that desperately needed loans to avoid laying off workers. The average amount of a PPP loan is currently $107,000.
If you type the words MENTAL HEALTH into the Washington Post data base that lists loans more than $150,000, you can learn if your local mental health provider is listed.
Here’s what several national mental health organizations received, including two that garnered more than $1 million.