Kanye West's clothing brand, Hollywood production companies on pandemic loan list

Kanye West's clothing brand, Hollywood production companies on pandemic loan list

- Kanye West's clothing line, Yeezy, was among the companies approved for loans under a U.S. government program

- According to reports, the program was designed to help businesses survive the coronavirus pandemic

- A list of the beneficiaries of the program was released on Monday, July 7

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It looks like an American rapper, producer and businessman, Kanye West will be saving the jobs of many of his Yeezy workers as his company was among those approved for loan under a US government program.

According to report, the program, Paycheck Protection Program (PPP), was designed to help companies stay afloat following the closures many have suffered due to the coronavirus pandemic leading to massive loss of jobs.

The billionaire rapper’s clothing brand received clearance for a loan of between $2 million (N776m) and $5 million (N1.9 billion) under PPP, the U.S. Small Business Administration said.

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The PPP was established to aid workers at companies and nonprofits with fewer than 500 employees hurt by closures and other measures meant to slow the spread of the novel coronavirus.

The list released Monday gave the most-detailed accounting to date of who applied for and was approved to receive funds.

Several Hollywood production companies applied for PPP aid after filming was halted in mid-March, putting tens of thousands of cast and crew members out of work.

Approved applicants included The Jim Henson Company, creator of the Muppets, and The Apatow Company, run by writer/director Apatow.

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Kanye West's clothing brand, Hollywood production companies on pandemic loan list

Kanye West's company was approved for pandemic loan Photo credit: @kanyewestt_official
Source: UGC

Still on Kanye West, the American rapper has announced that he will be vying for president in the US election slated for November 3, 2020.

Kanye announced his bid to succeed Donald Trump on Twitter on Saturday, July 4, stating that it was through trusting God that he will be able to catapult America to "realising its promise and building its future".

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If Kanye ends up on the ballot, he will be challenging Trump who is seeking reelection and former vice president Joe Biden, the presumptive Democratic nominee, who is also in the race to The White House.

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