Company of Kanye West had got loans in millions from the federal coronavirus stimulus package which raises the doubts on the conflicts happening with the rapper and Trump administration.
On Monday under the payroll protection program (PPP) it has been announced by US Small Business Administration by releasing the data above 40,000 companies that are going to receive the loan of about $150,000 or even more. As per the reports, a company being operated from California but has been established in Delaware had received an amount between $2m and $5m.
These PPP loans are only available for some 500 companies only with some criteria that only a few applications have got successful. Yeezy LLC has been managed by West and there are around 160 employees which are reporting $1.5 billion as revenue in the last year.
West has been supporting vocally to Donald Trump. With Kim Kardashian West, his wife has worked on the reform of criminal justice as well as outreach for the black voter.
The program of a loan with about $2tn Cares Act had faced the criticism extensively. There has been increasing demand for asking investigation about racial disparities accusations as well as technical glitches. The list of these recipients has been made public to follow the transparency complaints which are coming from Democrats.
It has been reported that from these 3 businesses being connected to the president’s son-in-law, Jared Kushner which is being given PPP loans that cost millions. Other members of the family and big corporations had also got the money.
Most of the brands as well as institutions such as Harvard University and Shake Shack are being forced for returning the loans due to public outcry as well as reporting by banks which are favoring rich customers or customers openly in public.
On Twitter, Kanye West earlier announced his presidential candidacy. But he had not filed the required paperwork of federal which is already late. This announcement is being taken as mockery only.