Blaze: At least eight companies partially owned by California Gov. Gavin Newsom (D) received millions of dollars through the Paycheck Protection Program, according to a new report.
PlumpJack, a wine business Newsom started in 1992, received nearly $3 million in PPP loans, according to a report from KGO-TV. The Small Business Administration’s loan program “helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.”
PlumpJack Management Group LLC includes five restaurants and bars, four Napa Valley wineries, a ski resort, and retail establishments, according to the company. At least nine companies affiliated with the PlumpJack Group received PPP loans, the report states.
One of the companies featured in the report is Villa Encinal Partners Limited Partnership, which has 14 employees and received a loan for $918,720 on April 14, 2020, just 11 days after the lending program launched, according to SBA data. Villa Encinal Partners Limited Partnership is linked to the PlumpJack winery in Napa, according to state records.
The Small Business Administration requires companies to spend 60% of PPP loans on wages. read more
PimpJack Management Group…