It was officially announced that Yeezy, the fashion brand owned by rapper Kanye West will be one of the proposed recipi...
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It was officially announced that Yeezy, the fashion brand owned by rapper Kanye West will be one of the proposed recipients of millions of dollars in funding, due to the hard times throughout the coronavirus pandemic.
Despite his billionaire status, Kanye has turned to a US government program to secure between $2 million and $5 million, with the purpose of not let his employees going through redundancies.
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In a list that was released on Monday, Yeezy received clearance for a loan under the Paycheck Protection Program, the US Small Business Administration said. The list gave the information in detail of who applied for in the program and confirmed to receive the funds.
The PPP was established to support workers at companies and nonprofits with less than 500 employees hurt by closures and other measures with the aim of reducing the influences of the COVID-19 pandemic.
Alongside Yeezy, the approved applicants also included The Jim Henson Company, creator of the Muppets, and The Apatow Company, run by writer/director Apatow.
The Apatow's spokeswoman for Apatow shared that she received an amount of $160,000 under the program. However, she decided to return it back immediately.
While The Jim Henson Company received roughly $2 million, which has helped to remain the entire staff of 75 employees, the company's spokeswoman Nicole Goldman said.
Other loan applicants from the world of entertainment included filmmaker company and cinema operators.
Theatre chains have received approval for loans included California-based Laemmle Theatres and Regency Theatres, as said in the government list.
