Kanye West‘s company, Yeezy, received more than $2 million through the Paycheck Protection Program, according to Small Business Administration documents obtained by The Hollywood Reporter on Monday.
Yeezy, an LLC formed by the musician and clothing designer, received a loan between $2 million and $5 million, according to the SBA, which West’s company claims saved 106 jobs.
The PPP, passed back in May, is meant to to help businesses struggling during the COVID-19 pandemic. The loans don’t have to be paid back, providing the money is used for eligible expenditures. However, the amount of loan forgiveness is less if a company reduces its number of full-time employees or cuts pay by more than 25%.
Meanwhile, Kanye made headlines over the weekend by announcing that he is running for president.
“We must now realize the promise of America by trusting God, unifying our vision and building our future,” the rapper wrote on Twitter Saturday evening. “I am running for president of the United States! #2020VISION”
It’s not clear if Kanye is serious about running or if he’s simply trying to drum up publicity for his upcoming album, God’s Country, and its first single, “Wash Us in the Blood,” which was released earlier this week.
If he is serious about running in this year’s election, he would have to do so as an Independent. However, even for that, he’d have to acquire the necessary signatures to get on the November ballot. The deadline to file has already passed in Indiana, Maine, New Mexico, New York, North Carolina and Texas.
If Kanye’s name isn’t listed on a state’s ballot, voters would specifically have to write in his name in order to vote for him.
By George Costantino
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