Billboard Magazine reports:
Kanye West’s Yeezy company received more than $2 million through the Paycheck Protection Program, the Small Business Administration disclosed on Monday (July 6).
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.
Kanye West’s Yeezy company received millions of dollars from federal pandemic bailout loan ⬇️https://t.co/bZhsfxhZXB
— XXL Magazine (@XXL) July 6, 2020