Kanye West's Yeezy company received more than $2 million through the Paycheck Protection Program
Kanye West's Yeezy company received more than $2 million through the Paycheck Protection Program, the Small Business Administration disclosed on Monday.
Yeezy, an LLC formed by the musician and clothing designer, received a loan between $2 million and $5 million, according to the SBA. The company disclosed that it saved 160 jobs because of the program meant to help businesses struggling during the novel coronavirus pandemic. Passed in May, the PPP is meant to serve as a lifeline for small businesses battered by the pandemic in an effort to save jobs while employers are financially struggling. The loans are forgivable if businesses spend the funds on eligible costs and avoid excessive layoffs and pay cuts.
The Small Business Administration's Paycheck Protection Program lets most companies with 500 or fewer employees apply for loans to cover the cost of eight weeks of payroll. The PPP load cover up to two and a half times the company's average monthly payroll costs, up to $10 million with a cap of $100,000 per employee.
West made headlines over the weekend when he announced his candidacy for the 2020 presidency with fewer than four months from the election.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Kanye West 'running for President' and wins backing from billionaire Elon MuskPresident Donald Trump may have some stiff competition in the upcoming 2020 presidential elections as rap star Kanye West has declared he will run for office this year
Lire la suite »
Kanye West Announces 2020 Presidential Run'We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States,' West tweeted, along with the hashtag 2020VISION.
Lire la suite »
Kanye West Announces 2020 Presidential Bid, Elon Musk SupportsMr. West says he's running for President ... and it might happen this year!
Lire la suite »
Kanye West Announces 2020 Presidential RunOn Saturday night (July 4), West took to Twitter to announce he is running for president, sharing the hashtag 2020VISION.
Lire la suite »
Kanye West Announces 2020 Presidential RunKanye West announces 2020 presidential run
Lire la suite »
Kanye West Says He's Running for President in 2020Kanye West just announced his intention to run for president in 2020 on Twitter!
Lire la suite »