Kanye West’s Company Received Millions in COVID Relief Loans
According to reports, Kanye West’s company, Yeezy, received a multi-million dollar loan from the federal government as part of Trump’s COVID-19 relief package.
The official records were released online on Thursday by the U.S. Treasury’s Small Business Administration. Yeezy LLC is listed in the log as having received somewhere between $2 million and $5 million.
The company also self-identified as being male-owned and a Black or African-American business, and that 160 jobs were saved using the loan, which is part of the Paycheck Protection Program.
The program is part of the $2 trillion CARES Act, which is supposed to keep the economy afloat during widespread shutdowns.
Yeezy reportedly made $1.5 billion last year, according to The Daily Beast.
Of course, Kanye’s loan calls into question the nature of how the loans were distributed as well as the conflict of interest, given that he’s buddies with Trump.
Oh man. Well, we can’t say that we’re surprised. It’s not that Kanye’s company doesn’t deserve it, but perhaps the allocation department does need looking into.