You may have heard of the famous PPP loan beneficiaries. These individuals include Reese Witherspoon, Kanye West, Tim McGraw, Khloe Kardashian, and Reese Witherspoon. These individuals all took advantage of the PPP loan program to establish their clothing and footwear brands. Read on to learn more about them. But how did these people get PPP loans? Here are a few things that you should know.
Kanye West
A federal government loan to Kanye West’s clothing company YEEZY is worth between $2 million and $5 million. Part of the stimulus package, the loans are meant to help small and medium-sized businesses. The government’s Paycheck Protection Program was created by President Donald J. Trump’s CARES Act. A public record of the loan was released on Monday by the U.S. Treasury Department’s Small Business Administration.
The PPP loan is intended to help companies with fewer than 500 employees, and the loans are forgivable when the companies spend them on eligible costs. However, there are some catches. The government has not made an official statement regarding whether or not West is running for president, and he has yet to file any paperwork with the Federal Election Commission. And he has yet to collect signatures for a campaign to appear on the November 2020 ballot.
In January, Kanye West’s company received a PPP loan worth $2 million to $5 million. However, the Trump administration has been plagued with problems since the program was launched. While it has yet to announce a presidential bid, West has made the PPP loan public, claiming that it saved 106 jobs. As part of the program, the U.S. Treasury has also made a public list of companies that received more than $150,000 in loans.
The Paycheck Protection Program was created by Congress in March to help small businesses recover from the disastrous impact of the coronavirus. In fact, many large corporations and billionaires have been recipients of the program as well. But the program was also embraced by many billionaires, including the multimillionaire Jeff Koons. The controversy continues to rage over whether or not West is using it to boost his presidential run.
Tim McGraw
Country singer Tim McGraw got a PPP loan to help fund his tour. Many major artists, including the Eagles, the Beach Boys, and Rascal Flatts, also received these loans. Some of the artists are philosophically against receiving government aid, while others are in a financial position to sustain their tour crews and support staff without PPP loans. Other major artists are simply reluctant to accept negative publicity and lay off their crews. Then there are some who were unlucky enough to get a PPP loan.
Not all PPP loan money went to touring organizations. The Country Music Foundation, which operates the Country Music Hall of Fame, received $1 million-$2 million from PPP. Zac Brown received $350,000-$1 million to create his Camp Southern Ground, a charity that provides a variety of services for veterans and children. These celebrities and others have used PPP funds to fund their business endeavors, but the PPP program isn’t just for country musicians.
A list of businesses that received a PPP loan has been released by the U.S. Department of Treasury. Many of the businesses that received PPP loans were struggling to pay their employees. The program is intended to support small businesses in hard economic times, and few industries have been hit more severely than the music industry. Since March, live concerts have been cancelled almost completely. And many bands are struggling to meet payroll for full-time employees. Most country acts who received PPP money did so through touring companies or other LLCs. The country singer Cody Johnson’s CojoMusic, LLC received between $150,000-$350,000 and retained 17 jobs.
Among the many celebrities who got PPP loans are Jay Z and actress Ion Overman. Other celebrities whose names were attached to PPP loan fraud charges include Jeff Koons, actor Dale Godboldo, and singer Tim McGraw. Even Hollywood stars and sports stars have taken advantage of PPP loans. They’re also among the many stars who were involved in the scam. These celebrities are hardly the only people who received PPP loans.
Khloe Kardashian
Despite the Kardashian’s massive wealth, some have been surprised to see that Kim Kardashian has also gotten PPP loans. Kim has been busy behind the scenes working on her mogul game – she’s started an activewear and denim brand and has stacks of coin. She recently took out a $1 million Paycheck Protection Program loan. So, does this mean that Kim Kardashian is not on her way to financial freedom?
The Paycheck Protection Program (PPP) was created after the recession shook the economy. It was designed to help small businesses survive a tough economic climate by providing money to keep employees paid. Since this program was initially funded with $349 billion in stimulus law, it was expanded to include hundreds of billions of dollars. Khloe Kardashian did not have a brick-and-mortar business, but she took out a PPP loan to help her company survive the downturn.
The PPP loan program is the most common source of funds for celebrities. Many big names, including Jay-Z and Kanye West, took out PPP loans to help with personal and business affairs. Jay-Z, the owner of a clothing and footwear line, also got a PPP loan, receiving $2.1 million for his company. Khloe Kardashian got ppp loans, but what about Kanye West and Chris Harrison? They all applied for the program and were approved for it.
According to the US Treasury Department, Khloe Kardashian’s Good American clothing line received a $1-2 million loan. It is estimated that the loan is designed to maintain 57 jobs despite the recession. While the line between activewear and daywear is vanishing, Kardashian’s line is chic and comfortable. Her high waisted leggings, for example, boast a stretchy, seamless fabric for a flattering fit.
Reese Witherspoon
The actress’s fashion line Draper James received a PPP loan to help it stay afloat. This loan program was designed to help small businesses stay open and avoid layoffs due to the ongoing COVID shut downs. A Reese Witherspoon rep didn’t immediately respond to a request for comment. However, it’s not surprising to hear that this fashion line got a PPP loan to help them survive.
Tom Brady, Kanye West, and Reese Witherspoon have all gotten PPP loans. Reese Witherspoon also received a PPP loan, but she stepped down from her fashion line after receiving the loan. The actress’ PPP loan is just one of many high-profile celebrities that have stepped out of the spotlight after receiving a PPP loan. Unlike Tom Brady and Khloe Kardashian, who both received millions of dollars in PPP loans, Witherspoon was willing to give it up.
A PPP loan is a federally-provided loan to help people who may have difficulty paying bills. The program offers a loan amount up to 2.5 times the cost of an average monthly payroll. This loan, called a PPP loan, is a great option for low-income individuals, and is a viable solution to the financial crisis. It also provides an outlet for high-profile celebrities to help their fellow citizens.
Reese Witherspoon is one of the most famous celebrities to obtain a PPP loan. In addition to being a high-profile recipient, she also owns a clothing line and a fashion house. Other celebrities who got a PPP loan include Kanye West and Jay-Z. The singer also received a $2 million loan. The singer’s clothing line, Reese Witherspoon’s clothing line, and reality TV star Khloe Kardashian.
Draper James
Reese Witherspoon’s fashion line, Draper James, has taken advantage of the government’s Paycheck Protection Program to keep 44 employees. The brand, which is backed by celebrity investors, has gotten mixed reviews from critics, although the star herself has been a staunch advocate of the program. She was recently photographed jogging in athletic wear while in Santa Monica. However, her use of the scheme has caused a backlash from critics. The same goes for other celebrities who have taken advantage of the scheme, including Kanye West, Khloe Kardashian, Tim McGraw, and Channing Tatum.
Reese Witherspoon’s clothing line, Draper James, has been awarded a PPP loan by the federal government. It employed 44 people before the coronavirus pandemic swept the country. The loan has been approved for the next 10 years, with repayment starting on April 11, 2020. However, the brand has also come under fire for its gown giveaway gone wrong.
Reese Witherspoon’s company, Draper James, has recently received a PPP loan worth between $350,000 and $1 million. The PPP loan program was created to help small businesses and individuals like Witherspoon, who is famous for her role in The Hunger Games as a teacher. Despite the controversy surrounding her loan, the brand has continued to thrive in recent years, and with more than four million dollars in the bank, it will be worth the investment.
Another celebrity to receive a PPP loan is Reese Witherspoon, who owns a clothing line and a film production company. The actress is one of the first to admit to receiving a PPP loan, and it’s safe to assume she received a large sum from the government. The loan was granted in an effort to help Witherspoon safeguard her clothing brand. While the news was not received with much fanfare, it did cause her to take a step back and take action.
