According to data from the U.S. Small Business Administration, Tom Branutrition and sports performance company, TB 12, collected $960,855 from the federal government in the form of PPP loans.
According to CNBC:
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.
It’s unclear how TB12 was impacted by the coronavirus pandemic and how many jobs it retained with the loan. CNBC has reached out to the company for comment.
TB12 is not the only fitness company to have received government assistance during the pandemic. The Sports Business Journal reports that over 500 fitness and sports-related businesses received $150,000 or more from the SBA program.
Forbes reports that Tom Brady has made roughly $350 million during his NFL career.