Tampa Bay Buccaneers quarterback Tom Brady is facing some criticism on social media for a loan his business applied for during the pandemic.
Brady’s company, TB12 Inc., applied for a PPP loan and was granted one for nearly $1 million. According to public data, the company, which is still located in New England, was granted a loan of $960,855.
TB12 Inc., based in Massachusetts, received the loan on April 15, 2020, as part of the small business lending program created under the $2 trillion CARES Act passed by Congress and the Trump administration in March. The loan was processed by Cambridge Savings Bank.
Brady, a former quarterback for the New England Patriots of the NFL, started TB12 in 2013. He agreed to a two-year $50 million deal with the Tampa Bay Buccaneers in March. The company announced in April plans to expand in Tampa, Florida, New York and Los Angeles.
Some are criticizing Brady’s company for taking the loan, given how much he’s made over the course of his career. Others are saying that Brady should not be criticizing for taking a government loan that everyone was able to apply for.
“Tom Brady’s company took almost $1M in PPP loans, while 52% of small businesses that applied didn’t get any. Tom Brady is worth $200,000,000,” Sawyer Hackett tweeted.
Tom Brady’s company took almost $1M in PPP loans, while 52% of small businesses that applied didn’t get any.
Tom Brady is worth $200,000,000. pic.twitter.com/St2L95ODxr
— Sawyer Hackett (@SawyerHackett) December 4, 2020
“The outrage shouldn’t be about Brady’s co. getting PPP loans. Being worth 200M isn’t relevant. He’s also paid tens of M’s in taxes. His co entitled to apply for a loan. The outrage is why wasn’t there enough $$ for others? Why do Trump supporters get to cut the line?” one fan said.
“Businesses cannot and should not be blamed for taking advantage of a broken system. Blame the system, contact your congressperson and senator and demand them to fix it. And vote for people that promise to fix it,” another fan said.
Brady, 43, is currently on a bye week. His Tampa Bay Buccaneers are scheduled to return to action next Sunday against the Minnesota Vikings.