A well-known financial advisor in The Villages took taxpayer-financed bailout money aimed at small businesses struggling through the Coronavirus crisis.
Parady Financial Group Inc. received between $350,000 to $1 million in the form of a “forgivable” loan, according to information from the Small Business Administration.
The public purpose of the PPP is to help small businesses avoid layoffs or salary reductions, hence loan forgiveness is therefore contingent on these conditions being met.
Parady, which has offices at Colony Professional Plaza and Brownwood Paddock Square, is headed by Greg Parady. The financial firm was founded in 2001.
Parady obtained the money May 3 through Bank of America. The SBA breaks down the amount in broad categories, so the exact amount Parady received has not been revealed.
“You spent 30+ years working to climb the retirement mountain. You sacrificed and saved. You put off purchasing things and traveling, so you could better prepare for retirement. Now, it’s time to enjoy the benefits of your hard work,” Parady says in verbiage on the firm’s website.
“He is generally considered by his peers to be a pioneer in the field of income planning by maximizing the living benefits of annuities and life insurance,” the website says.
It also points out that Parady is known for his “philanthropy.”
