Kanye West's Yeezy Received Federal Pandemic Loan

Kanye West's Yeezy company received more than $2 million through the Paycheck Protection Program.

Kanye West's Yeezy company received more than $2 million through the Paycheck Protection Program, the Small Business Administration disclosed on Monday .

Passed in May, the PPP is meant to serve as a lifeline for small businesses battered by the pandemic in an effort to save jobs while employers are financially struggling. The loans are forgivable if businesses spend the funds on eligible costs, but the amount of forgiveness is reduced if a company reduces the headcount of full-time employees or cuts pay by more than 25 percent.

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