Slipknot, Tool, Nickelback + More pandemic assistance
Due to the impact of the coronavirus pandemic, the US Small Business Administration and the Treasury adopted the Paycheck Protection Program (PPP) earlier this year to distribute loans to help businesses pay their staff. According to a new report which specifies which entities have received loans, the companies owned by Noose, Tool, Nickelback and other rock and metal groups have benefited from the revival program.
“The PPP brings much needed relief to millions of American small businesses, supporting more than 51 million jobs and more than 80% of all employees in small businesses, which are the engines of our country’s economic growth,” explained Secretary Steven T. Mnuchin. in the report.
A total of $ 660 billion was provided in loans to 600,000 businesses, some of which were band owned. All of the companies listed in the report received a minimum of $ 150,000 in loans to support their employees, and the majority of bands mentioned were in the $ 150,000 to $ 350,000 range.
Our friends from MetalSucks compiled a report on the band owned companies that were included – Slipknot, Tool, Nickelback, Papa roach, Dust of seven, Skillet, Switch, Green day, Pearl jam, Weezer, Slightly stoopid, Sammy Hagar, You’re here and imagine Dragons. Disturbed Touring Inc. was also on the list, but it is not confirmed whether the company is part of the group or not.
Paycheck Protection Program loan recipients are eligible for a rebate as long as the company is using the money to pay their employees as it was before the pandemic.
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