Meet the billionaire-backed businesses that received PPP loans
Stine Seed Company, Stine Seed Farm Inc, Midwest Oilseeds Inc, Eden Enterprise Inc, M.S. Technologies, Cheesman Seed Companythis year for the Adel, Iowa billionaire’s Stine Seed. But in April, six of Harry Stine’s seed companies borrowed a total of between $2.55 million and $6.35 million in PPP loans, according to SBA data.
Editor's Note: This article previously incorrectly listed Elon Musk's The Boring Company as a PPP loan recipient. A company called The Boring Company in Las Vegas is listed by the SBA as receiving a loan, but it's a separate company unrelated to Elon Musk's. On July 8, this article was updated to include the loan taken by a hospital controlled by Patrick Soon-Shiong. The article previously listed Trican Well Services as being backed by Dan and Farris Wilks. On July 8 Forbes removed Trican from the article after the company told Forbes that Dan and Farris Wilks no longer own any of its shares.
On July 15, this article was updated to include PPP loans obtained by Harry Stine’s Stine Seed companies.With reporting by Angel Au-Yeung, Hayley Cuccinello, Chris Helman, Chase Peterson-Withorn, Jonathan Ponciano, Ariel Shapiro, Kristin Stoller and Giacomo Tognini Disclosure: Forbes Media LLC was a recipient of a Paycheck Protection Program loan of $5 million to $10 million.
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