Kanye West's company Yeezy received a loan of between $2 million and $5 million from the Paycheck Protection Program (PPP), a federal government program managed by the Small Business Association, according to The Hollywood Reporter.
PPP was passed by Congress in May to address the economic damage of the novel coronavirus. The program covers eight weeks of payroll up to $10 million, offsetting the pandemic's economic damage with forgivable loans for companies with 500 or fewer employees that did not cut the size or payment of their workforce by more than 25%.
Read Next: Kanye West reportedly hasn’t filed any paperwork to run for president Yeezy, a brand valued earlier this year at over a billion dollars, said the loan saved at least 160.
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