The Los Angeles Lakers have repaid a loan of roughly $4.6 million from coronavirus business relief funds after learning the program had been depleted.
FILE - In this March 3, 2017, file photo, Los Angeles Lakers president Jeanie Buss sits in the stands prior to an NBA basketball game between the Lakers and the Boston Celtics in Los Angeles. The Lakers have repaid a loan of roughly $4.6 million from coronavirus business relief funds after learning the program had been depleted.
The Lakers applied for the loan under the Small Business Administration’s Paycheck Protection Program, a part of the federal government's $2.2 trillion stimulus package. The Lakers' request was granted in the first round of distribution, but after the fund ran out of money in less than two weeks, the team returned its loan, as did several wealthier business including Shake Shack and AutoNation.
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