Tom Brady’s company TB12 took nearly $1MILLION in federal PPP funding despite the NFL star’s estimated $200million net worth
- NFL star’s nutrition and fitness plan company received the funds on April 15
- Federal data did not reveal how many jobs the $960,855 loan preserved
- Brady has a $50 million deal with the Buccaneers and net worth of $200 million
- His company TB12 has never revealed its financials and its value is unknown
NFL star Tom Brady’s company TB12 Sports took nearly $1 million in federal Paycheck Protection Program loans, federal data has revealed.
Brady’s nutrition and fitness plan company based in Foxboro, Massachusetts was approved for the $960,855 loan on April 15, according to data released by the Small Business Administration.
The information released did not include an estimate of how many jobs the pandemic assistance was estimated to preserve, and a company spokesperson did not immediately respond to an inquiry from DailyMail.com.
TB12 is privately held, and its financials, valuation and number of employees have never been disclosed. Brady himself has an estimated net worth of $200 million.
NFL star Tom Brady’s company TB12 Sports took nearly $1 million in federal Paycheck Protection Program loans, federal data has revealed
The PPP loan to TB12 was first reported by CNBC. The loan was processed by Cambridge Savings Bank.
Brady, who prides himself on his rigorous diet and fitness regimen, co-founded TB12 in 2016 with controversial trainer Alex Guerrero.
The company sells nutritional supplements, subscription diet plans, fitness programs and branded apparel.
Guerrero, Brady’s longtime trainer, was stripped of many of his team privileges by the New England Patriots in 2017 after reported friction with team staff.
Brady, a former quarterback for the Patriots, signed a two-year, $50 million contract with the Tampa Bay Buccaneers in March.
TB12’s federal PPP funding was revealed in a massive data dump last week that included names of more than 10 million businesses and individuals that took pandemic aid.
Brady, who prides himself on his rigorous diet and fitness regimen, co-founded TB12 in 2016 with controversial trainer Alex Guerrero (with him above)
As of November, the SBA had processed and approved more than 5.2 million individual PPP loans amounting to $525 billion, along with 3.65 million Economic Injury Disaster Loan (EIDL) loans worth $194 billion.
Several billions of dollars have gone to ineligible businesses and fraudsters, watchdogs have warned.
The SBA in July identified borrowers who took more than $150,000 from the PPP, but provided only aggregated and anonymized data for borrowers who took less than $150,000, which accounted for roughly 85 percent of the total number of PPP loans. The agency provided similar partial disclosures for EIDL loans.
The Trump administration said that identifying the EIDL and PPP recipients would violate individuals’ personal privacy and reveal confidential business information that can be redacted under Freedom of Information Act exemptions.
A federal judge in Washington, D.C., rejected that argument and dismissed further efforts by the agency to delay releasing the data, which it mandated must be published by December 1.