Kanye West‘s brand, Yeezy, benefited from the Paycheck Protection Program.
The Hollywood Reporter says that the Small Business Administration is reporting that Kanye and Yeezy received over two million dollars in loans amid the pandemic.
The company received a loan “between $2 million and $5 million”, the SBA shared in a release, and Yeezy also disclosed that it saved 160 jobs because of the program.
The PPP is meant to help businesses struggling during the novel coronavirus pandemic. 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.
Over the weekend, Kanye made headlines when he announced he was running for the Presidency this year.
However, it seems like he’s already at a disadvantage in the race for the position.
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