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 The creative crew of the Public TV had chosen 13-year-old Malena as a participant of this year's contest. She called on others to also suspend their accounts over the companies’ failure to tackle hate speech. Penderecki was known for his film scores, including for William Friedkin’s “The Exorcist”, Stanley Kubrick’s “The Shining”. The festival made the news public on March 19, saying that “several options are considered in order to preserve its running” Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |