Kanye West? The Girl Scouts? Hedge funds? All got PPP loans

Brenda Watkins
July 8, 2020

Part of the larger CARES Act that was signed into law this past March, the Paycheck Protection Program provides loans to smaller companies to help keep employees on their payrolls during the economic downturn and uncertainty triggered by the COVID-19 pandemic.

Ventures backed by big-name entertainers Kanye West and Francis Ford Coppola were among those approved for loans under a US government program to help businesses survive the coronavirus pandemic, according to a list released on Monday.

The document, which came in the form of a spreadsheet, showed that Yeezy LLC saved 106 jobs, while Valentino USA Inc., Oscar de la Renta LLC and Vera Wang Group LLC preserved 281, 42 and 197 roles, respectively.

Khloé Kardashian's Good American denim brand, which she co-owns with Emma Grede, also filed for a PPP loan.

The company said the loan would save 160 jobs, according to the SBA.

Kanye West's Yeezy received at least $2 million in federal aid in order to weather the coronavirus pandemic.

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The PPP program began with some controversy, as companies that presumably didn't need the money urgently took out loans, while some small business owners struggled to navigate the process and get approved.

PEOPLE has reached out to Yeezy for comment. On July 4, West announced in a tweet that he was running for president.

Yeezy, West's sneaker and fashion business, reportedly made $1.5 billion past year.

In April, Forbes reported that West's net worth was close to $1.3 billion.

"I am so proud of my handsome wife Kim Kardashian West for officially becoming a billionaire", he wrote on Twitter.

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