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Kanye West’s company Yeezy received money from the pandemic loan. Here’s how much

Yeezy received more than $2 million, saving at least 100 jobs, according to reports

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Musical artist Kanye West speaks in the Oval Office of the White House during a meeting with President Donald Trump to discuss criminal justice system and prison reform on Thursday, Oct. 11, 2018, in Washington, D.C. (Olivier Douliery/Abaca Press/TNS)

Musical artist Kanye West speaks in the Oval Office of the White House during a meeting with President Donald Trump to discuss criminal justice system and prison reform on Thursday, Oct. 11, 2018, in Washington, D.C.

Olivier Douliery, Abaca Press via TNS

Kanye West’s clothing company Yeezy received more than $2 million from the Paycheck Protection Program, according to the Small Business Administration.

What happened

  • Yeezy — an LLC from West — received a loan between $2 million and $5 million, according to The Hollywood Reporter.
  • The company saved 160 jobs from the loan, which was “the program meant to help businesses struggling during the novel coronavirus pandemic,” according to THR.
  • The federal government released PPP loans to save them during the coronavirus pandemic, which led to multiple shutdowns that left employers struggling financially.
  • “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%,” according to The Hollywood Reporter.

Yeezy signed a deal with Gap

According to The New York Times, West signed a 10-year deal for a new “Yeezy Gao” apparel line, which will bring Yeezy clothes to Gap in 2021.

West says he’s running for president?

  • West announced on Twitter Sunday that he is running for president. However, it’s unclear if the run is for 2020, a future election or real at all.
  • West tweeted: “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! #2020VISION.”
  • Kim Kardashian West retweeted her husband with an American flag, confirming the news.
  • West recently released new music with Travis Scott, called “Wash Us In Blood.”