The Small Business Administration made public on Monday a list of Hollywood companies that received money from the federal government's Paycheck Protection Program
Judd Apatow's The Apatow Company, The Gersh Agency and Verve Talent & Literary Agency were among the Hollywood companies that received money from the federal government's Paycheck Protection Program, according to a list made public on Monday by the Small Business Administration.
The American Film Institute, the SAG-AFRA Foundation and the Motion Picture & Television Fund also received loans. PPP was established in late March as a lifeline to small business rocked by coronavirus lockdowns was doing to small businesses struggling to stay afloat. The now $669 billion forgivable loan program was intended to help cash-strapped businesses meet payroll.
On April 23, the U.S. Treasury Department updated its guidelines for the PPP initiative and urged companies who have access to alternate funds to reconsider whether they really needed the money. Companies have been given until May 14 to return the loan money with no questions asked.
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