Page Six reports Arielle Charnas received a Paycheck Protection Program [PPP] loan of up to $350,000 for her fashion line Something Navy in April. The forgivable loans were given out to small business owners to keep their employees on the payroll. Page Six found a loan made to Something Navy at the home address of Charnas in Manhattan to retain 25 employees. The loan was $150,000 to $350,000 through JPMorgan Chase on April 13, 10 days after the program launched. Her brand is valued at $45 million, according to CNBC. Charnas’ worth is said to be $2.5 million.
A spokesperson for Something Navy told Page Six, “Like many companies, the pandemic had a significant impact on our business, and we participated in the PPP to help protect the jobs of our employees. All of the money was used towards our payroll to avoid job or schedule reductions during the worst of the economic downturn caused by COVID-19 — what it was intended to do. We did not make this decision lightly, but after careful consideration of all our financial options, we believed that we had a responsibility to our staff to apply for this program to help us manage the financial realities of the current environment.”
Charnas came under fire earlier this year when she tested positive for COVID and then fled to her house in the Hamptons from Manhattan despite quarantine guidelines. Critics dubbed her a “Covidiot” and left harsh comments on her Instagram page, which has 1.3 million followers. Charnas made a tearful apology in a video saying, “Through all of this, I’ve learned that the reality of the career and life path I’ve chosen for myself comes with a powerful responsibility. In times of crisis, opening up about every aspect of your life is hard. Continuing to be honest in light of ongoing disapproval is even harder. We are all human. We all make mistakes, including me, especially when a crisis such as this is developing so quickly. My family and I are truly sorry to those we have offended for not appearing to be taking this crisis gravely seriously, and we are committed to making informed, responsible decisions moving forward.”
Her Instagram account is now private.
2 comments
This whole debacle about Charnas !! Did she give the money back ? Is what I want to know!! I’m a small business built with blood sweat and tears and loans! I’ve been in business for 38 years I LOVE what I do! It is my lifeline!! I had to fight long and hard to get $14,000.00 for payroll ! Every penny went to that! Of course nothing to me!! When will this all end! How about she swings some of that money towards us hard working entrepreneurs who are about to lose our businesses!
Please use your time and considerable resources to report on actual news! So many multi million dollar companies received a lot more in PPP loans than this company. You chose to reprint something originally reported on via Page Six -seriously Page Six? Ugh!