Tom Brady #12 of the Tampa Bay Buccaneers throws a cross throughout the first half towards the New Orleans Saints at Raymond James Stadium on November 08, 2020 in Tampa, Florida.
Mike Ehrmann | Getty Photographs
Tom Brady’s sports activities efficiency and vitamin firm obtained a Paycheck Safety Program mortgage of $960,855 from the federal authorities, in response to information launched by the U.S. Small Enterprise Administration.
TB12 Inc., primarily based in Massachusetts, obtained the mortgage on April 15, 2020, as a part of the small enterprise lending program created underneath the $2 trillion CARES Act handed by Congress and the Trump administration in March. The mortgage was processed by Cambridge Financial savings Financial institution.
Brady, a former quarterback for the New England Patriots of the NFL, began TB12 in 2013 and agreed to a two-year $50 million cope with the Tampa Bay Buccaneers in March. The corporate introduced in April plans to increase in Tampa, Florida, New York and Los Angeles.
The six-time Tremendous Bowl champ has made about $350 million throughout his profession, in response to Forbes.
It is unclear how TB12 was impacted by the coronavirus pandemic and what number of jobs it retained with the mortgage. CNBC has reached out to the corporate for remark.
Greater than 500 sports-related firms obtained funds of $150,000 or extra from the SBA program, in response to the Sports activities Enterprise Journal.
The Los Angeles Lakers, one of many NBA’s richest franchises, obtained $4.6 million in federal loans in April however returned that cash upon studying that funds from this system ran out.