Who got a PPP loan? Dov Charney, Jeff Koons and Flywheel, for beginners
If the United States government loves small businesses so much, why does it not embrace them? On Tuesday, the Small Business Administration released a flood of data on beneficiaries of its Paycheck Protection Program, LLCs and Incs, who received part of the $ 522.95 billion allocated to help businesses stay afloat. The money is primarily intended to pay employees during the economic crisis driven by COVID-19, but a very limited number of other uses are allowed, including mortgage and lease payments. (For reference, NPR estimated in March that those CARES-mandated $ 1,200 stimulus checks sent directly to individuals would amount to $ 560 billion in aid.)
So who was really involved in this big change? Surely it all went to the worthy Mom and Pop businesses that run the blood of the American Dream through our collective veins – the kind of establishments where everyone knows your name, customers wink and say, “Keep the change. ! ”, And the assistant principal looks forward to dressing up as Santa Claus and handing out free lollipops at the local preschool for orphans each year. Law?
Not exactly – in August the New York Times reported that crooks were successful in obtaining $ 62 million in fraudulent loans from the SBA, and on Tuesday they reported that 1% of all program participants received 25% of the loan money.
Hmm, 1%… Where have we heard that number before? Speak Times, the 600 companies in this lucky group included a few law firms adjacent to Trump, the owners of “New York’s greatest racetracks” and PF Chang’s.
With this searchable database of PPP loan recipients, it is now possible to see who, exactly, received a robust PPP loan from Uncle Sam during these difficult times. We’ve taken a look at which small businesses have been backed by politicians who genuinely care about the workers who keep this great nation running – and it turns out it’s a real who’s who of jagged, salt-rock entrepreneurs. Earth. .
Since, as the name suggests, PPP loans were primarily intended to keep the flow of money from employer to employee running smoothly, which makes sense for Koons, an artist who employs many workers to perform his seven-figure visions. The big animal balloons in the Bank of America lobby do not draw or sculpt themselves!
Flywheel was sued for bankruptcy after Peloton accused its employees of corporate espionage and the company blocked all home smart exercise bikes it sold in February. But that doesn’t mean the business can’t apply for a loan of just under $ 2 million.
Zuckerbrot is the originator of the struggling F factor diet; a former employee told the New York Times in August that the company’s culture is centered on “seeking leanness at all costs”, while former clients alleged serious diet-related side effects, including ” severe abdominal pain ”and even a suspected miscarriage. According to a lawsuit filed by Zuckerbrot in October against his main critic, Instagram influencer Emily Gellis, his company’s earnings have plummeted due to the negative buzz – something that even a big help from COVID-19 helps n ‘could have prevented.
Greek life wasn’t exactly at the peak of COVID-19 containment this year, and may have struggled nationally with calls for the abolition of Greek students themselves, but at least them Greek organizations have received a helping hand from the US government in the form of a cold, hard cash.
Jeffree Star is best known as a very popular and controversial YouTuber who recently made headlines for allegations that he perpetrated physical and sexual violence against several different people over the course of his career, including (corroborated) claims ) that he committed a non-consensual oral act. sex on a 19-year-old man whom he had previously electrocuted with a Taser. But he’s also a “makeup mogul” to whom the SBA handed over most of a half a million dollars in cash.
The kinkiest event to come from this “lifestyle” facilitator group this year? Naughty in N’awlins, a 250-person swinger convention held in mid-November, as cases of COVID-19 soared in New Orleans, Louisiana … after which dozens of people were tested positive for COVID-19. CEO Bob Hannaford cited his company’s five full-time employees as part of his motivation in an unapologetic blog post as to why he continued the event amid the pandemic.
Rae Wellness went viral earlier this year when his “metabolism drops” went viral on TikTok in teens trying to lose weight fast. The company pulled the product off the market in February after VICE reported the phenomenon, but they keep moving forward, selling probiotic and collagen capsules at retailers like Target and Urban Outfitters, and therefore need relief. in these decidedly unhealthy economic times. .
Repellent Man Founder Leandra Medine Cohen has faced allegations of racism in the workplace from former and current employees of her longtime fashion blog, and stepped back / renamed accordingly… for two months… before to close abruptly at the end of October. At least the business won’t have to worry about applying for a second PPP loan!
Arielle Charnas, COVID influencer
Blogger and influencer Arielle Charnas was widely ridiculed as the first to engage in bad COVID behavior in March, when she fled New York City for the Hamptons … after testing positive for the virus … thanks to a test which she received from a friend during a condition – great shortage of tests. Wow, I just felt such a pinch of nostalgia typing it all in! Either way, the federal government gave her over a quarter of a million dollars for her fashion business, because while you can’t put a price on public safety, you can put one on one. pink cable knit pants – $ 165.
Dov Charney’s Zombie American Apparel
Los Angeles Apparel is the company that emerged from the ashes of disgraced CEO Dov Charney’s American Apparel. While its offerings are almost identical to those of Dov’s original idea, the new name allows consumers to pretend they don’t know who’s running the business – a masquerade they can keep playing, thanks to a multi-million dollar loan. Ethically risky bodysuits, here we are!
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