Cake Boss' Buddy Valastro takes out over $2.3M in PPP loans for his bakeries during pandemic despite '$10M' net worth

CAKE Boss star Buddy Valastro took out over $2.3million in PPP loans for his bakeries during the pandemic despite having an estimated net worth of $10million. 

The Sun can exclusively reveal Buddy, 44, took out 17 PPP loans, which is a business loan program for relief aid during the coronavirus pandemic, for a total amount of $2,382,317.

Carlo’s Bakery Cake Headquarters in Jersey City, New Jersey was approved for a PPP loan in April 2020 for the amount of $493,439.

The location received another loan during the second round for $493,437 in February 2021. 

Buddy, whose real name is Bartolo, listed “payroll” for 50 jobs when asked how the loan will be used. 

The Hoboken, New Jersey location, received $114,107 for the first round in April 2020 and the same amount for the second round of loans in February 2021 towards payroll for 26 jobs and utilities.

The April 2020 loan has been “forgiven” in the amount of $115,413, which includes interest. 

Carlo’s Bakery in Marlton, New Jersey received $35,570 during a second round in February 2021 for 12 employees on payroll and utilities.

Carlo’s Bakery in Manhattan was approved for a PPP loan in April 2020 for $265,284 with the amount going to payroll. 

A second loan for $265,285 was given in March 2021 for 20 jobs on payroll. 

The Sands Bethlehem location in Pennsylvania was approved for $57,039 for payroll for 11 jobs in April 2020. 

The shop received $57,040 during a second round of PPP loans in March 2021. 

The Philadelphia bakery received $34,841 in April 2020 for 11 jobs on payroll. 

Carlo’s Bakery at Mohegan Sun in Connecticut got $58,105 for 11 jobs on payroll and utilities during the second round of loans in March 2021.

While Buddy received $44,281 for his Dallas location in April 2020, the PPP loan didn’t save the bakery, as it closed down in December 2020.

The shop in La Plaza in Texas got a PPP loan for $47,604 in April 2020 for 11 jobs on payroll. 

Carlo’s Bakery at The Shops at La Cantera in Texas got approved for a PPP loan in April 2020 for $53,393.

The Las Vegas location got $123,465 during the first round of loans in April 2020, while the Santa Monica, California bakery received $58,170 on the same day. 

The Orlando, Florida location received a loan for $67,150 during the second round in March 2021. 

Buddy has a reported net worth of $10million.

But the pandemic isn’t the only thing to cause the baker hardship, as he suffered a “horrific” bowling accident in September 2020 in his New Jersey home that forced him to undergo five surgeries. 

A representative for Buddy told People: "There was a malfunction with the bowling pinsetter, a common fix in the past, but it turned into a terrible accident.

"After trying to release the bowling pin from the cage mechanism, his right hand became lodged and compressed inside the unit.

"Unable to remove his hand, he can see a 1-1/2 metal rod slowly and repeatedly impale his hand three times between his ring finger and middle finger.”

Buddy's sons Buddy Jr. and Marco used a saw "to cut through the metal rod and relieve his father from the machine.”

Cake Boss aired from 2009 to 2017 on TLC, Food Network and Discovery Family.

The dad of four had a competition show on the Food Network called Bake You Rich in 2019. 

He currently stars on Food Network's Buddy V. Duff with season three premiering on Sunday. 

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