Kanye West's Yeezy Brand Received Millions In Small Business Loans

Kanye West and his Yeezy brand benefited from the Paycheck Protection Program in the U.S. amid the COVID-19 pandemic.

As per the Small Business Administration via The Hollywood Reporter, the rapper's brand received a loan "between $2 million and $5 million," which helped save 106 jobs within his company. In case you haven't heard, the program was introduced to help businesses struggling during these hard times. The loans were reportedly forgiveable but the amount of forgiveness was reduced if the companies reduced their number of full-time employees or cut wages by more than a quarter.

In related news, the rapper, who announced (yet again) that he’d be running for President of the United States, recently inked a 10-year partnership with Gap Inc. to create a new line of apparel for men, women and kids. YEEZY Gap is expected to hit stores next year, as per a press release from the retail giant. While London-based designer Mowalola will serve as the Design Director of Yeezy Gap, the hip-hop superstar will be at the helm of the project as the creative director. The YEEZY design studio is expected to deliver "modern, elevated basics for men, women and kids at accessible price points, with the creative process just getting underway."

Photo: Getty Images

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