Here is the most recent list of wealthy corporations that applied for and received SBA government loans: https://factba.se/sba-loans Astonishingly, even after being publicly named and shamed by the media, they have refused to return the money. The SBA loans were for small businesses that will go under, not for wicked corps that have stolen from the fund-lifeline pot. So let's dwell on the mentality here for a moment:
Why would a deep pocket, cash healthy company steal from the needy small businesses? And refuse to return the cash to help other small, struggling mom & pop companies, even when they've been publicly cited? We have a one word answer:
Entitled
These corporations believe they are absolutely entitled to the cash out. They didn't break the law, they didn't steal since the opportunity was offered to them, and they saw a clause loophole that encouraged them to apply (loan eligibility if the company has less than 500 employees at one site).
But there's a moral and ethical high ground that should have come with this opportunity door knocking. When that door opened, the ethical compass should have triggered a red flag: If we take this cash, will it leave others without? Do we really need this cash, even though it's available to us? When greed over rides morals, that trigger never rears its head because we're talking about the selfish that only have one trajectory, a trajectory that is now part of their corporate DNA: take, take and take even more; give me, give me and give me more.
These bullish companies took without any consideration that by taking for themselves, they greatly took from others who needed it so much more. They wanted to fill in missing revenue to reach their monthly profit goal yet didn't once consider that small businesses would tremendously suffer as a result from having zero income because the loan fund was now drained out. Which comes back to the greed and need to maintain that critical word: Entitled.
SF CARES has always advocated for the needy, the poor, the ones down on their luck and the ones that really need a break in life. Please read Psalm 37 since these words are so appropriate for today. We just hope and pray that this large list of unsavory companies do return the money back to the Treasury by the 5th May deadline, or the wrath they'll receive from the government will be kids play compared to the future wrath they'll receive from God.
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