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Complete List Of Celebrities Who Got PPP Loans.
Celebrities are notable public figures and famous personalities, especially in the world of recreation and sports. Most of these personalities aside from their usual profession have side jobs. It turns out that most of these celebrities invest their worth in businesses.
In doing so, sometimes they require assistance from external sources including joint investment, cooperation, switching from sole ownership to company business, and sometimes resorting to loans.
What Are PPP Loans?
Paycheck Protection Program (PPP) offers low-interest private loans to people and entities at 2.5 times the average monthly payroll cost of the applicant. PPP Loans are backed by Small Business Administration (SBA) and they are aimed at improving small businesses and keeping them running.
PPP Loans may be forgiven in cases of payments for business mortgage interest or rent 8-24 weeks after disbursement.
Who Qualifies For PPP Loans?
Any small business with five hundred (500) or fewer staff may become eligible. It includes small businesses, corporations, Limited Liability Companies (LLCs), private and nonprofit organizations, and religious organizations among others.
List Of Celebrities Who Got PPP Loans.
This list contains among others the names of some notable celebrities who have accessed PPP Loans :
• Khloe Kardashian ( Reality Star): According to Money magazine, the reality superstar is worth around $40 million, in one way or the other became a beneficiary of the PPP program. Her clothing brand, Good American accessed an amount of loan around $2 million.
• Kanye West (Singer): He owned a clothing and sneaker brand called Yeezy. The rapper accessed between $2-5 million.
• Jay-Z (Rapper): The rapper owned a streaming company known as Tidal Streaming. The company has approved a sum of $2.1 million.
• Robert Kiyosaki (Author): He is the author of the “Rich Dad, Poor Dad” Series he is an avid investor and also owns a business known as Rich Dad Operating Company. He was granted a loan to the tune of $1 million.
• Pearl Jam (Rock Band): Grunge rock band Pearl Jam’s touring company was allowed a loan of $350,000 to $1 million. Other touring musicians like Weezer, Guns N’ Roses, and Green Day, were approved loans too.
• Sofia Vergara (Actress): Sofia Vergara owns a company known as Sofia Vergara Enterprises Incorporation located in Miami USA. She received a loan of $27,347.
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