The Lakers have paid back $4.6 million in federal coronavirus relief the franchise applied for as part of the Paycheck Protection Program.Magic vs. Kobe? Wooden vs. Kareem? Vote in fourth round of ‘Biggest L.A. Sports Icon’ tournament
Last month, following a backlash after large firms swooped in and collected millions from the program — which was intended to cast a lifeline to small concerns that didn’t have access to capital markets — Treasury Secretary Steven T. Mnuchin said borrowers had criminal liability for taking loans they didn’t need.
The program allows loans of as much as $10 million to small businesses; those loans can become grants if proceeds are spent mostly on payroll for two months after they are received. It’s meant to keep workers employed and firms ready to reopen when state stay-at-home orders are lifted.
Of course not. 'Friends of Trump' are not prosecuted...at least till November