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Ice Cube's Big 3 Received a 1.6 Million dollar PPP Loan from Trump Admin

Sereneone

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By Sam Dean

and Don Lee

Jelly Belly, Kanye West’s Yeezy apparel company and the SETI Institute, which searches for extraterrestrial life, are all California companies that received millions in loans from the federal coronavirus relief program for small businesses, according to data released by the Trump administration Monday.

The federal government doled out more than $68 billion to a vast and eclectic range of 580,000 California businesses in the last three months as part of the Paycheck Protection Program, which offers businesses with 500 or fewer employees loans that can be forgiven if the employer meets certain criteria, including using the money to keep pre-pandemic employees on the payroll for at least eight weeks after receiving the loan.

The majority — more than $50 billion — went to a subset of 87,000 California businesses that received loans of $150,000 or more. The largest loans, in the $5-million-to-$10-million range, went to just 647 businesses in the state. Manufacturing and construction companies received the highest percentage of those loans in California, but few parts of the economy went untouched, with money flowing to law firms, tech companies, film studios, healthcare companies, farms, hotels, restaurants and even a three-on-three basketball league founded by rapper and actor Ice Cube.

The Trump administration’s release of more detailed data on PPP borrowers — including the identities of those that got $150,000 or more — came after mounting pressure from Democrats and various private groups that demanded more transparency surrounding the roughly $660-billion loan program.

But within hours of the data’s release, California companies were disputing the accuracy. The Santa Monica scooter company Bird Rides Inc. is listed in the government data dump as having received a loan of $5 million to $10 million in late April. But in a statement, the company said it never applied for or received a PPP loan, and Chief Executive Travis VanderZanden tweeted that the company is speaking with its bank and investigating how it ended up on the list.

Taking the federal data at face value, recipients of the loans said the money would go to supporting more than 6.5 million jobs — or roughly 37% of the total jobs that existed in the state in February, before the economic effects of the COVID-19 pandemic began. But it is too early to say what percentage of those jobs were actually saved by the federal program, which will allow companies that forgo forgiveness to pay back the loans at a 1% interest rate over the coming 24 months.

Notable companies that received loans over $5 million, according to the data, include online custom gift marketplace Zazzle, Aladdin Bail Bonds and Cacique, the Monrovia-based cheese and meat company.

A number of nonprofit organizations received loans exceeding $5 million as well: several Planned Parenthood health centers, the Huntington Library and Museum in San Marino and numerous religious organizations, such as the Catholic Diocese of San Bernardino. In the $350,000-to-$2-million loan range, the Ayn Rand Institute in Santa Ana received a loan, as did the Foundation for National Progress, which publishes the left-leaning magazine Mother Jones.

The construction sector, including multifamily housing developers, electrical contractors, drywall firms and concrete and pipe companies, among others, was the largest recipient of loans statewide, including 86 in the $5-million-to-$10-million range.

The Los Angeles entertainment industry, which has seen concerts, sporting events and TV and film production delayed because of coronavirus precautions, reached for PPP loans to stave off layoffs.

Jim Henson Co. received about $2 million in loans to keep 75 jobs, for instance, and the Gersh Agency received a top-tier loan in the $5-million-to-$10-million range to help retain 250 jobs. Culver City-based Jukin Media, which makes money on the rights to viral videos, said it applied for a $2.2-million PPP loan to cover payroll costs for its 127 full-time staff and avoid layoffs.

Ice Cube’s Big 3 professional basketball league initially received a PPP loan of $1.6 million, according to a Big 3 spokesperson. The Los Angeles-based league returned $700,000 of the PPP loan after it decided in May to cancel the 2020 season, and used the remaining $900,000 for operational expenses and payroll for more than 100 coaches, players and staff members, a Big 3 spokesperson said.

Food and hospitality companies, which saw business come abruptly to a halt as stay-at-home orders went into effect in late March and global tourism slowed, also made up a large share of California’s loan recipients.

Jelly bean maker Jelly Belly Candy Co. received a PPP loan ranging from $5 million to $10 million. Jelly Belly said that the money was used to retain employees and that without the loan, the company would have had to “reduce headcount” at the start of the pandemic. The money helped retain 500 jobs, according to the SBA data.

A variety of Los Angeles-area restaurants received loans, including mid-market chains such as Norms, an iconic L.A.-area diner founded in 1949 that received $5 million to $10 million. But scores of smaller restaurants such as Le Petit Greek in the Larchmont neighborhood, which is listed as receiving $150,000 to $350,000, also received federal relief.

And wineries such as Plumpjack Management Group, one of the holdings in Gov. Gavin Newsom’s hospitality company, also received federal aid. It received between $150,000 and $350,000 in funds, federal records show. Larger operations such as Francis Ford Coppola’s Geyserville spread received loans in the range of $5 million to $10 million.

In a statement, the Plumpjack group said the loan enabled it to rehire a number of employees who would otherwise be on unemployment, adding that “like many in the hospitality business, our businesses have been struggling to survive during the Covid-19 crisis.”

A Beverly Hills hotel company owned by the sultan of Brunei also received a large loan from the program. Kava Holdings, which does business as the Hotel Bel-Air in Beverly Hills and is owned by the sultan of Brunei through the Brunei Investment Agency, an arm of the Brunei government, received a loan of $2 million to $5 million.

Forbes has ranked Hassanal Bolkiah, the sultan of Brunei, as having a net worth of about $20 billion.

The hotel’s parent company declined to comment.

The PPP program has faced criticism over its execution and accountability since it began. The initial PPP funds of $350 billion were drained in about two weeks, and it came to light that some large and publicly traded companies took advantage of the program, effectively shutting out more needy small employers until the program was replenished by Congress.

In the wake of the criticisms, administration officials tightened regulations to channel more funds to smaller businesses, and the average size of a loan has dropped to about $107,000 from almost double that in mid-April. About $132 billion of funds remain available, and President Trump on Saturday signed legislation extending the application deadline from June 30 to Aug. 8.

Nationally, healthcare businesses and companies that fall under the broad heading of professional and technical services, which range from law offices to landscape architects, received the most funding at nearly 13% of the total PPP dollars each.

Construction and manufacturing were next, followed by food services and hospitality, then retail, each with around 8% of the PPP dollars. Food services and retail, however, accounted for more than 10 million jobs lost in March and April — more than a third of the total losses — much more than all the other major sectors except for health and social services.

The data released Monday show that California businesses received the largest share of funds in the nation — 13%, roughly proportional to the state’s 12% share of the national population.

But there are disparities in how the loans have been distributed. The District of Columbia, North Dakota and Massachusetts received the largest portion of the program’s loans per capita, while West Virginia, New Mexico and Mississippi received the lowest per capita loan amount.

“While the loans are more bite-sized and digestible, it appears that they still didn’t reach the most vulnerable industries and states,” said Beth Ann Bovino, chief U.S. economist at S&P Global Ratings, who has been closely tracking the program. “So the question is: Of those 51.1 million jobs that are reportedly supported by PPP, how many were actually at risk of being lost in the first place?”

The new data do not shed direct light on how well the PPP funds were spread to minority-owned businesses, which have been hit particularly hard by the pandemic, according to research by economist Robert Fairlie of UC Santa Cruz. Borrower information on race and gender was voluntary, and most applicants left that part blank.

“It’s good to see the data finally being released on the PPP program, but frustrating that it took this long to come out,” said Sarah Crozier, a spokeswoman for Main Street Alliance, a small-business advocacy group that had been pushing for more transparency.

Times staff writers Samantha Masunaga, Hugo Martín, Laurence Darmiento, Wendy Lee and Phil Willon contributed to this report.

Jelly Belly and Yeezy got PPP loans. Which others?

DC United, Ice Cube’s Big3 Among Pros Getting PPP Loans – Sportico.com

4 MLS teams, all NWSL teams and Big 3 Basketball jump on the PPP bandwagon, but the NFL, NBA, NHL and MLB take a pass | News Break
 

goldenchile

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SIT DOWN ICE WATER!
 

oohlalacaramel

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Chiiiiiiiile! I'm here for his wig snatching. Had he sat down and ate his food, no one would've been digging into his dealings. He made things bad for himself, and had no one else to blame. I wonder what will become of him if Trump loses this election.
 

SaraSampson100

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These men are true sellouts!


Didn't the movie NWA have allegations of abuse against darkskin women? These fake pro blacks are the worst!
 

goldenchile

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These men are true sellouts!


Didn't the movie NWA have allegations of abuse against darkskin women? These fake pro blacks are the worst!

He's not fake pro black, he is pro green! SMDH! It's a shame how he got black folk out here capping for him, but of course, they are the black folk who don't think!
 

OneGurl_OneWay

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Ebro was right when he said black men want to be white. He could have raised that 1.6 million himself just from his name recognition, but he chose to go to the devil.
 

Rainbow Dash

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A sellout, just like Kanye. If you follow the money, you find the answers. His dealings with Bannon and Trump show that it's about him, not black people. A rapper claiming to be about the community, is really working out deals for himself. Clown!

Why would you try to sell Trump to black people, when we can see right through his lying, racist ass? Only the gulliables keep falling for this scam.
 

goldenchile

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A sellout, just like Kanye. If you follow the money, you find the answers. His dealings with Bannon and Trump show that it's about him, not black people. A rapper claiming to be about the community, is really working out deals for himself. Clown!

Why would you try to sell Trump to black people, when we can see right through his lying, racist ass? Only the gulliables keep falling for this scam.

And I was on Facebook recently.... Sadly I know a bunch of gullibles that I have since blocked! (most of them classmates. So, yeah!)
 

Feather

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sade

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Yall are sooo dumb every damn business received a LOAN and it wasn't from TRUMP it was from the damn Government lol. Do you want me to post all the Black owned businesses that received a similar loan? Trump doesn't determine who receives the loan you apply for it through your LOCAL BANK. My goodness with all this reaching you should be able to touch Mars lol
 

Rainbow Dash

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He has deals in the background, while playing with black lives, trying to keep Trump. Selfish mf! He doesn't realize that he's the bait for black vote suppression. It's about suppressing the black vote and they are willing to pay you via whatever deal you need for it.
 

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Now we know all the more why Ice Cube told black people to hold our votes, it's because if Trump wins re-election he has a great chance at benefiting from it by having more money placed into his pockets. And he'll keep getting rich off of the Trump administration even as Trump has no intentions of actually following through with giving 500 billion to the black community.
 

BigTimeReader

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Chiiiiiiiile! I'm here for his wig snatching. Had he sat down and ate his food, no one would've been digging into his dealings. He made things bad for himself, and had no one else to blame. I wonder what will become of him if Trump loses this election.

In the meantime there are many black business owners who make far less money Ice Cube does who got denied PPP loans for COVID relief. Yet Ice Cube won't let that stop him from propping up Trump as someone that the black community can trust and rely on. When Trump can't even follow through with promises made to his own cult base.
 

butterflyz

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I was just watching a short news clip breaking down how the foreign disinformation campaign for Trump have moved away from the 2016 strategy of feeding fake news to black voters.

The revised plan is to use long time social media influencers to "depress" the vote. This makes sense because no one is gonna buy the argument that "Trump is the good guy, vote for him" because we've all seen Trump's track record over the past 3 years.

The message is being amplified not fake bots but co-opted long standing black influencers on social media and high profile celebrities.

The strategy is to appear "credible and more convincing by acknowledging that Trump is no good BUT, Biden is just as bad so stay home and don't vote. They ran this playbook in 2016 as well buts it's the main strategy now instead of mostly "fake News"

It's the most effective kind of CON because they are basically paying off people we already trust on other issues to manipulate us politically.
 

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In the meantime there are many black business owners who make far less money Ice Cube does who got denied PPP loans for COVID relief. Yet Ice Cube won't let that stop him from propping up Trump as someone that the black community can trust and rely on. When Trump can't even follow through with promises made to his own cult base.

We all see small businesses around us going under left and right, while Trump's rich friends suck up the money meant for them. Didn't know Ice Cube was on that list, until the dumb fµck outted himself.
 

Have a Seat

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I hate seeing the left leaning media turn into Fox News with stuff like this implying he's doing this cause of a loan or the loans went to people that support him.

There were numerous celebs that got the loans for they businesses and alot that hate Trump or attack him publicly.

I don't think any of these big businesses shoulda got these loans but framing every Trump supporter who got one as "it's unfair!!!!" is something Fox News would do.
 

banksy212

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A reminder that 40% of small black businesses have now closed down, during the covid crisis.

while celebs and large companies have been getting the loan, black small business owners have been left to struggle and are still in the process of waiting to the loan to happen, or have been denied.
 

AI Boyfriend

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I really don't care about Cube or Trump but this is kinda weak.

PPP loans came from the SBA via banks and credit unions and many people who are not Trump supporters got it.

This is like saying everyone who got the $1200 stimulus check is somehow in cahoots with Trump's administration.

And it looks like Cube/his partners used a lot of it to pay his staff and coaches who I'm sure many of them were Black.
 

HexxeH

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I really don't care about Cube or Trump but this is kinda weak.

PPP loans came from the SBA via banks and credit unions and many people who are not Trump supporters got it.

This is like saying everyone who got the $1200 stimulus check is somehow in cahoots with Trump's administration.

And it looks like Cube/his partners used a lot of it to pay his staff and coaches who I'm sure many of them were Black.

Nothing illegal here, nothing at all.

Ignorant people who do not have the capacity to understand how business works will attempt to draw a correlation between taking a business loan from the government which was offered to ALL businesses that needed help during the pandemic and try to say it's shady. They prove over and over again how they are deficient in reasoning skills and lack basic education.
 

oohlalacaramel

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In the meantime there are many black business owners who make far less money Ice Cube does who got denied PPP loans for COVID relief. Yet Ice Cube won't let that stop him from propping up Trump as someone that the black community can trust and rely on. When Trump can't even follow through with promises made to his own cult base.
Right! That's why I roll my eyes when he talks about building black wealth, yet here's his ass, just using the system to build upon his OWN wealth. Black business owners were getting denied left and right from banks for this money. I doubt he was out advocating for black business owners during this pandemic.
 
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oohlalacaramel

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I really don't care about Cube or Trump but this is kinda weak.

PPP loans came from the SBA via banks and credit unions and many people who are not Trump supporters got it.

This is like saying everyone who got the $1200 stimulus check is somehow in cahoots with Trump's administration.

And it looks like Cube/his partners used a lot of it to pay his staff and coaches who I'm sure many of them were Black.
Ummm, no! Ice Cube has money to be able to pay his employees. He's not on the same level as a small mom and pop run diner that is struggling to pay its one cook and three waitresses, or a small record shop that lost 80% of its revenue due to the pandemic. He had enough liquidity to purchase a sports team, he should have enough liquidity to keep up with its maintenance. Instead, he took a government handout from SBA, a handout meant for small and struggling businesses. My annoyance with this isn't just reserved for Ice Cube, but for all these celebrities (Kanye) and million-dollar companies who took advantage of a system that everyday businesses are being denied assistance from.

Screenshot_20201019-122210_Chrome.jpg
 

brandy716

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I don’t know why everyone is shocked another Rich Black Man is taking a pay off. We need to wake up and realize the average Black man is a sell out once he obtains a certain level of opportunities and proximity to WP.


It is the normal for them to compromise the community for a pat on the back from White Men. They are also proud of it.
harvey_and_trump.jpg

They tell us their selling out will help BP but it never does. It just makes our men look weaker. Nothing comes out of the show they put on other than opportunities for themselves.


I knew something wasn’t right with Ice Cube when I read these 2 people wrote the dialogue for Straight Out of Compton

Jonathan Herman and Andrea Berloff
gty_andrea_berloff_jonathan_herman_jc_160222_16x9_992.jpg


You think they have conversations with Black people that are not serving them? Of course not and this would have been a great opportunity for a Black writer, even better if it was from his original community.

BW need to get the message. Expect low value behavior from MOST of our men and you will not be disappointed.
 
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Not Today B

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That church Trump attended yesterday got a bigly PPP loan as well while small black business owners that pay taxes are still waiting to get one. Smh
 

Imanifest_It

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Yall are sooo dumb every damn business received a LOAN and it wasn't from TRUMP it was from the damn Government lol. Do you want me to post all the Black owned businesses that received a similar loan? Trump doesn't determine who receives the loan you apply for it through your LOCAL BANK. My goodness with all this reaching you should be able to touch Mars lol

Sometimes I feel like im in the twilight zone & then I'll see a post like this that reminds me others see it too. Sooo many businesses were given ppp. Some didn't know how to do the application & some just downright scammed but the money was there for those who needed it. Was he supposed to just not take it because he's ice cube? At what point is letting your anger blind you from being logical acknowledged because this just ridiculous. If another stimulus check comes we're not supposed to take that either? Thats just wrong...
 

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Sometimes I feel like im in the twilight zone & then I'll see a post like this that reminds me others see it too. Sooo many businesses were given ppp. Some didn't know how to do the application & some just downright scammed but the money was there for those who needed it. Was he supposed to just not take it because he's ice cube? At what point is letting your anger blind you from being logical acknowledged because this just ridiculous. If another stimulus check comes we're not supposed to take that either? Thats just wrong...

Thank you lol.
 

744Boss

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Chiiiiiiiile! I'm here for his wig snatching. Had he sat down and ate his food, no one would've been digging into his dealings. He made things bad for himself, and had no one else to blame. I wonder what will become of him if Trump loses this election.
I don't understand the low self-esteem Fonts that hear about the foolery of rich black celebs but still go out of their way to cape for them and have whole ass arguments on LSA to defend the indefensible. Each and every time it blows up in their faces.

Just let them twist in the wind because they are never EVER doing the most to promote or benefit our community, specifically black women. It's always about them and their dollars.
 

shademuse

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I thought he bonded with Cheeto over their shared obesity and delusions of grandeur.

If it turns out it's all just a prostitution hoe's motivation, I'll be mightily disappointed

6TinUP2.jpg
 

goldenchile

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In the meantime there are many black business owners who make far less money Ice Cube does who got denied PPP loans for COVID relief. Yet Ice Cube won't let that stop him from propping up Trump as someone that the black community can trust and rely on. When Trump can't even follow through with promises made to his own cult base.


sh!t, black people, the whole country, can't get another $1,200 so what makes him think he'll give us 500 billion?!







tenor.gif
 

Kano1987

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Melted Ice defenders are looking stupid each day this continues!

Huh!!!! But But But he was doing this for ADOS???
durr.gif





Nope! Ice Cube Nuts was doing everything for himself. HipHop Crooks strike again.
 

goldenchile

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I was just watching a short news clip breaking down how the foreign disinformation campaign for Trump have moved away from the 2016 strategy of feeding fake news to black voters.

The revised plan is to use long time social media influencers to "depress" the vote. This makes sense because no one is gonna buy the argument that "Trump is the good guy, vote for him" because we've all seen Trump's track record over the past 3 years.

The message is being amplified not fake bots but co-opted long standing black influencers on social media and high profile celebrities.

The strategy is to appear "credible and more convincing by acknowledging that Trump is no good BUT, Biden is just as bad so stay home and don't vote. They ran this playbook in 2016 as well buts it's the main strategy now instead of mostly "fake News"

It's the most effective kind of CON because they are basically paying off people we already trust on other issues to manipulate us politically.


But Krazye West and Ice Water?! They really didn't do their research on who black influencers are!
 

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