ppp

ppp

Latinx-owned small businesses are proving resilient in their recovery from the coronavirus crisis. Most were forced to shut down, but over three-fourths have reopened their doors.

So says a new national report from L.A.-based fintech firm Camino Financial that looked at the impact of the pandemic on these businesses.

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The pandemic has put Hollywood productions out of commission, but at least one entertainment company — L.A.-based Jukin Media Inc. — seemed to be hitting its groove by finding a new niche in entertaining quarantine videos.

Yet despite millions in the bank and on the balance sheet, Jukin also took $2.2 million in Paycheck Protection Program (PPP) funds, according to data released by the U.S. Small Business Administration and confirmed by the company.

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Bird, the Santa Monica-based e-scooter unicorn valued at $2.77 billion dollars, is listed in a database of thousands of companies that the Small Business Administration (SBA) made public Monday that received Payroll Protection Program (PPP) loans. According to the SBA, Bird received a loan of between $5 and $10 million in late April to help it retain 341 jobs, which was a month after it laid off 406 employees via Zoom.

But in a statement, Bird said it never applied for the funds and it was trying to determine why it was included on the list. "Bird was erroneously listed as a company that filed for a PPP Loan," the company said.

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