Business
The maker of the gun used in the school massacre got $3.1 million in pandemic aid.
Daniel Protection, the corporate that made the rifle a gunman used to kill 21 folks inside a Texas elementary college this week, was one among tons of of gun makers and retailers that received emergency small-business assist from the federal authorities by way of the Paycheck Safety Program.
The corporate, based mostly in Ellabell, Ga., acquired a $3.1 million mortgage in early April 2020 — simply days after the aid fund opened, when many corporations have been struggling to interrupt by way of a crush of purposes because the pandemic started.
The mortgage, made by Cadence Financial institution, was used to assist some 200 workers, in keeping with authorities information. Daniel Protection met this system’s necessities to have its mortgage forgiven, and it was paid off by the federal government in June 2021.
A Daniel Protection rifle was used within the assault on Robb Elementary Faculty in Uvalde, Texas, on Tuesday, in keeping with a state police briefing acquired by State Senator John Whitmire of Houston. Nineteen kids and two adults have been killed on the college, and a number of other different kids have been wounded. The 18-year-old gunman additionally wounded his grandmother earlier than attacking the varsity.
“We’re deeply saddened by the tragic occasions in Texas this week,” the corporate wrote in an announcement posted on its web site. “We’ll cooperate with all federal, state and native legislation enforcement authorities of their investigations.”
Firm representatives didn’t instantly reply to questions in regards to the Paycheck Safety Program mortgage. The Small Enterprise Administration, which oversaw this system, didn’t instantly reply to a message on Thursday afternoon.
Nearly each small enterprise in America — usually outlined by the federal government as these with fewer than 500 employees — certified for assist by way of the Paycheck Safety Program, which required candidates merely to certify that the “financial uncertainty” brought on by the pandemic made it mandatory for them to hunt assist from the federal government fund.
Almost 500 gun and ammunition makers and retailers acquired federal assist by way of the $800 billion aid program. The business collectively took in loans totaling $125 million, in keeping with a New York Occasions evaluation of presidency knowledge.
Twenty-three producers, together with Daniel Protection, acquired loans of $1 million or extra. The biggest, for $10 million — the utmost mortgage obtainable by way of the aid fund — went to RemArms, a Georgia firm that acquired property and a producing facility from Remington after it filed for chapter.