December 2, 2023

Small Business

Business Nes

Tom Brady’s firm TB12 been given extra than $960,000 PPP loan

2 min read

Tom Brady #12 of the Tampa Bay Buccaneers throws a move for the duration of the initial 50 percent from the New Orleans Saints at Raymond James Stadium on November 08, 2020 in Tampa, Florida.

Mike Ehrmann | Getty Illustrations or photos

Tom Brady’s athletics performance and diet business acquired a Paycheck Safety Application loan of $960,855 from the federal government, according to knowledge produced by the U.S. Compact Enterprise Administration.

TB12 Inc., primarily based in Massachusetts, acquired the bank loan on April 15, 2020, as element of the tiny small business lending application made beneath the $2 trillion CARES Act passed by Congress and the Trump administration in March. The personal loan was processed by Cambridge Price savings Financial institution.

Brady, a former quarterback for the New England Patriots of the NFL, began TB12 in 2013. He agreed to a two-year $50 million deal with the Tampa Bay Buccaneers in March. The business declared in April programs to expand in Tampa, Florida, New York and Los Angeles.

The six-time Tremendous Bowl champ has made about $350 million for the duration of his vocation, according to Forbes.

It is unclear how TB12 was impacted by the coronavirus pandemic and how many careers it retained with the personal loan. CNBC has arrived at out to the business for remark.

Much more than 500 sporting activities-related providers received resources of $150,000 or more from the SBA method, according to the Sporting activities Business enterprise Journal.

The Los Angeles Lakers, a single of the NBA’s richest franchises, acquired $4.6 million in federal loans in April but returned that revenue upon learning that funds from the program ran out.