Kanye's Yeezy received $2m-plus from small businesses programJuly 7, 2020 - 14:19 AMT PanARMENIAN.Net - Kanye West's Yeezy company received more than $2 million through the Paycheck Protection Program, the Small Business Administration disclosed on Monday, July 7, The Hollywood Reporter says. 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 106 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 in the U.S. 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, but the amount of forgiveness is reduced if a company reduces the headcount of full-time employees or cuts pay by more than 25 percent. As for West, the musician made headlines over the weekend when he announced his candidacy for the 2020 presidency with fewer than four months before the election. "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. A rep for West did not immediately reply to a request for comment concerning the PPP loan. Top stories Տhe European Film Market is the world’s third biggest industry meeting for the international film circuit. The singer-songwriter has been enjoying huge success with her brother Finneas O'Connell with her debut album. Ruzan Mantashyan will perform at The Semper Opera Ball, a classical entertainment event in Dresden. At age 22, Andy Madadian left Iran with nothing, moved to Los Angeles and started playing at nightclubs to pay rent. Partner news | Iran records highest daily death toll from Covid-19 The 200 deaths reported on Tuesday exceed the previous record from Sunday, when 163 deaths were reported. Donations soar after Kim Kardashian urges support for Armenia businesses The Foundation revealed that before Kardashian's tweet, several donations were made each day. Beijing reports no Covid-19 cases for 1st time since market outbreak 8 new imported cases were reported across Shanghai, Liaoning, Sichuan, Inner Mongolia and Guangdong. Karabakh coronavirus infections reach 136 111 people have so far recovered from the disease in Karabakh, while 82 others are quarantined. |