Oops, I Did It Again: Did Ross Gerber Actually Just Take Out A Third PPP Loan

Tyler Durden's Photo
by Tyler Durden
Wednesday, Jun 09, 2021 - 02:38 PM

Surely at this point, we have to be imagining things, right? 

We have reported twice on Tesla uber-bull and well known talking head-of-hair "investment advisor" Ross Gerber's propensity for taking out government loans despite boasting on Twitter of how rich he was and how well his advisory firm was doing.

Back in July of 2020, we first pointed out that Gerber's firm, Santa Monica-based Gerber Kawasaki, was among the many firms nationwide to take PPP money. His firm took out a total of $515,458 in PPP funds via Wells Fargo.

The irony, of course, came from the fact that on April 27, 2020, just 6 short days before his firm's loan was approved, Gerber virtue signaled to the #resistance by tweeting that "this whole PPP thing looks like a scam. Another big Trump scam".

Then, we noted that Gerber appeared to have taken out a second PPP loan (this time as a sole proprietor) in early May. Ross Gerber himself was approved for a $20,833 loan as a sole proprietorship, according to information on ProPublica. The website lists a "Ross Gerber" as "approved" for a PPP loan of $20,833 as of March 29, 2021.

In response, Gerber called Zero Hedge a Russian “misinformation site run by US enemies” and said the loan hadn't been disbursed. 

And now - despite the public ridicule Gerber received after both loans were revealed, it appears that Gerber may have "done did it" again. At least, that seems to be the claim of a new Substack article by well known FinTwit personality Keubiko

Keubiko's latest article first confirms our previous reporting that Gerber received a second loan of $20,833. Additionally, upon further sleuthing, it also seems to confirm that Gerber's second loan had "been disbursed, and is outstanding". 

Then the kicker. Keubiko notes that while "poking around the current SBA database", they came across yet another PPP loan of Gerber's, approved on May 12, 2021. This loan appears to not be disbursed yet and appears to be a "second draw" loan, the report notes

It concludes by stating its unsure when the loan will be disbursed, but notes the interesting timing for Gerber to be drawing off the government teat, since he is apparently "about to take delivery of a $150,000 supercar".

Keubiko concludes:

"I can’t say definitively what’s going on here. Maybe Russian hackers are putting fake information into the SBA database. Maybe there is another Ross Gerber living at the same address in Pacific Palisades and they just keep missing running into each other, blissfully unware of each other’s existence. Maybe he just filled out the forms by accident, or forgot. Maybe the PPP Hobgoblins are up their usual antics. Or maybe someone is fraudulently applying for a loan in his name, in which case I’m sure he’s informed the FBI by now."

We look forward to Gerber's forthcoming claims of additional Russian information.