A friend passed this along a few days ago, but I’ve been out of town on vacation, and could not bring it up on my iPad (Aarggh!) But, I’m finally back, so here we go!
As you well know, since the last gubernatorial election, Billie Sutton has spent his time and effort out begging for money for his ‘leadership program,’ which the cynical among us believe is his attempt to keep his gubernatorial hopes alive. Especially since he uses the same logo for both.
But clearly, Billie’s program has fallen on bad times, and has been endangered by COVID.. because he found it necessary to apply for a paycheck protection program loan from the SBA. According to the COVID bailout tracker:
According to the tracker, which notes that “This site contains all Paycheck Protection Program data — including specific amounts and company names — released by the Small Business Administration on December 1, 2020. This data covers loans of any value issued under the program,” Sutton applied for and received a bailout of $17,800. And the lender is First Fidelity Bank, his own employer.
If you’re not familiar with the terms of the loan, according to the SBA, “the Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll” and “SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.”
What service does Billie Sutton’s Leadership program provide that’s worth being bailed out with a loan that’s going to likely turn into a cash handout? I’m not sure. But I have no doubt the question will come up at a later date.
BTW, while we’re at it..
Troy Heinert, the incoming Democrat Senate Minority Leader also finds himself on the list for $9,200.