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Kanye West? The Girl Scouts? Hedge funds? All got PPP loans
Jul 06, 2020 1 min, 29 secs
WASHINGTON (AP) — The government’s small business lending program has benefited millions of companies, with the goal of minimizing the number of layoffs Americans have suffered in the face of the coronavirus pandemic.

All told, the Treasury Department’s Paycheck Protection Program authorized $520 billion for nearly 5 million mostly small businesses and nonprofits.

The program got off to a rocky start, one marked by confusion and difficulty for many companies that sought loans.

Koons’ studio was approved for $1 million to $2 million, the government’s data shows.

(The data shows only ranges for the amounts of approved loans.) His studio said it employed 53 people before the pandemic.

Nearly 600 asset management companies and private equity firms were approved for money from the PPP, according to government data.

According to the data, those 583 companies reported supporting roughly 14,800 jobs collectively with the money from the program.

Kanye West’s clothing-and-sneaker brand Yeezy received a loan of between $2 million and $5 million, according to the data released by Treasury.

It described the program “as compensation for a government taking during the shutdown.”.

The Center for Law and Social Policy, a research and advocacy group focused on policies supporting low-income Americans, was authorized for a loan of up to $1 million, according to government data.

More than 30 Girl Scout chapters across the country received PPP loans, the Treasury said.

Jim Justice’s family companies received at least $6.3 million from the program.

Justice, a billionaire, acknowledged last week that his private companies received money from the program but said he didn’t know the dollar amounts

Dallas-based TGI Fridays, which has around 500 restaurants nationwide, obtained between $5 million and $10 million in loans from the program

Chang’s, which has more than 210 restaurants around the country, was approved for between $5 million and $10 million from the PPP program, according to the government data

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