SHOCKER: Millionaire Kandi Burruss Received Huge PPP Loans Intended For Struggling Businesses!
One of the richest Real Housewives, Kandi Burruss, accepted government handouts intended for struggling small businesses affected by the Coronavirus pandemic.
According to Coronavirus bailout records obtained by AllAboutTheTEA.com, Kandi Burruss’ Atlanta eateries — Old Lady Gang and Old Lady Gang II — each received PPP loans ranging between $150,000 – $350,000. The loans were funded by TruFund Financial Services Inc. — and were approved on April 29.
This is especially alarming since Kandi Burruss flaunts her million dollar empire on The Real Housewives of Atlanta and frequently boasts about her lucrative business portfolio.
RELATED: Mama Joyce STILL Hates Todd Tucker & Does NOT Trust Him With Kandi Burruss’ Money!
Back in March, Congress passed the CARES Act that granted $669 billion to the Paycheck Protection Program (PPP), a loan intended to help small businesses maintain their payroll. The loan is special in that it’s fully forgiven if at least 60% of it is used on payroll costs, as it was designed specifically to prevent layoffs during a time of historic unemployment.
RELATED: Todd Tucker Gifts Kandi Burruss Lavish $200K Bentley SUV Using HER Money!
However, Old Lady Gang and Old Lady Gang II both laid off several workers and both locations are on the verge of closing despite the hefty economic boast — leaving questions about how the government will make sure that the funds are being used properly.
Prior to the pandemic, Old Lady Gang and Old Lady Gang II had long lines of patrons frequenting the restaurants. The Real Housewives of Atlanta star and her husband, Todd Tucker, declared the bistros a success story.
Celebrity Net worth lists Kandi Burruss’ net worth as $30 million.
The restaurant industry has undoubtedly been hit hard by the pandemic — but are PPP loans intended to keep the rich richer? Sound off in the comments!
Stay Connected With All About The Tea: Twitter Ι Instagram Ι YouTube Ι Facebook Ι Send Us Tips
Avigail is an Entertainment blogger at All About The Tea, who specializes in The Real Housewives of Atlanta and The Real Housewives of Potomac. Avigail has a background in marketing. She’s a Brooklynite living in the Bahamas, with a passion for travel, writing, reality TV watching, pop culture and spoken word.