Joel Osteen’s Lakewood Church received $4.4M COVID-19 PPP loan

SBrooks1

@ComicConScott
OT Supporter
Nov 28, 2002
79,046
Virginia
1608145728683.png

Lakewood Church received a $4.4 million Paycheck Protection Plan loan during the coronavirus pandemic, according to federal data. The loan was disbursed in July of this year.

U.S. Small Business Administration data, which was released at the beginning of December, showed that Lakewood Church's PPP loan was created by Bank of America. The megachurch's hefty loan was the third-largest PPP loan approved for a Houston-area entity during all of July and August, according to Chris Matthews at Houston Business Journal.

The church, like many other businesses, was hit hard by the COVID-19 pandemic. Lakewood's in-person services were halted due to the pandemic, but were able to resume in October, at 25 percent capacity.

According to a statement from Lakewood spokesperson David Iloff, the church's PPP loan was used to provide support for the church's employees.

Iloff went on to say, "Believing the shutdown would only last a few weeks, Lakewood did not initially apply for PPP assistance during the first half of the program. However, as the shutdown persisted month after month, given the economic uncertainty, Lakewood finally applied for the PPP loan and has been able to provide full salaries and benefits including health insurance coverage to all of its employees and their families."

Even with such a hefty loan amount, none of the PPP loan was used to pay pastors Joel or Victoria Olsteen, as neither of the them have received salaries from Lakewood Church since 2004.

Lakewood Church wasn't the only religious institution in the Greater Houston area to receive a loan over $1 million. Federal data shows that over a thousand religious entities in the Houston area were approved for the loan. Of all churches approved for PPP loans, Lakewood received the largest in Houston.

The church has received scrutiny from the public in the past for not opening the church doors during natural disasters such as Hurricane Harvey.

 
TS
TS
SBrooks1

SBrooks1

@ComicConScott
OT Supporter
Nov 28, 2002
79,046
Virginia
I'm an asshole because I expect people to have savings and live within their means and not look for government handouts.
C'mon now. You can't reasonably expect that during a pandemic when a lot of businesses are closed which employees have no control over
 
TS
TS
SBrooks1

SBrooks1

@ComicConScott
OT Supporter
Nov 28, 2002
79,046
Virginia
The employees did. And that's where the money went or the loans have to be repaid
Don't tell me for one second that Osteen doesn't have $4.4M which he could have used to help pay his employees salaries and insurance instead of asking for a government handout

The fuck outta here
 

mdaniel

S is for Shiksa
May 6, 2000
73,985
NW Mejicooooooo
Don't tell me for one second that Osteen doesn't have $4.4M which he could have used to help pay his employees salaries and insurance instead of asking for a government handout

The fuck outta here

Oh, so you're the guy who says "no thanks" when the government offers you free money for nothing. Riiiight
 

WhiteLightning

Be Excellent to each other.
Sep 12, 2001
31,157
Northeast
Don't tell me for one second that Osteen doesn't have $4.4M which he could have used to help pay his employees salaries and insurance instead of asking for a government handout

The fuck outta here
HEY NOW.

not donating and keeping your church doors closed in time of need is what Jesus wants. Now give me money for my jet fuel.
 

Users who are viewing this thread

About Us

  • Please do not post anything that violates any Local, State, Federal or International Laws. Your privacy is protected. You have the right to be forgotten. Site funded by advertising, link monetization and member support.
OT v15.8.1 Copyright © 2000-2022 Offtopic.com
Served by fu.offtopic.com

Online statistics

Members online
133
Guests online
40
Total visitors
173

Forum statistics

Threads
369,610
Messages
16,900,078
Members
86,875
Latest member
Theodor