Lakers Return $4.6 Million Of Coronavirus Stimulus Loan
The Los Angeles Lakers received a $4.6 Million coronavirus stimulus loan that Congress passed in March but the team has decided to return the money.
“The Lakers qualified for and received a loan under the Payroll Protection Program,” the team said in a statement first provided to ESPN. “However, once we found out the funds from the program had been depleted, we repaid the loan so that financial support would be directed to those most in need.
They also added, “The Lakers remain completely committed to supporting both our employees and our community.”
The Payroll Protection Program was part of a $2.2 trillion stimulus package and was designed to help small businesses weather the coronavirus pandemic. It’s good the Lakers are considerate enough to acknowledge the businesses that need help the most.
