Kanye West’s clothing line and the Church of Scientology were among billion-dollar brands who used US government loans designed to help businesses survive the Covid-19 pandemic.
The US Small Business Administration (SBA) said on Monday that the billionaire rapper’s Yeezy brand had been cleared to receive $5 million (£4m) under the government’s small-business loan program.
Three Church of Scientology locations in New York, Washington DC and Florida were also cleared to receive loans between $150,000 (£120,000) and $350,000 (£278,000) each.
US Congress passed the Paycheck Protection Program (PPP) in March to secure small loans for businesses and nonprofits with less than 500 workers amid Covid-19 shutdowns.
Almost three months on, the SBA list published on Monday shows that Mr West and other billionaires used the PPP to receive loans.
"The reality is that the Trump administration created a program that helped the well connected cut to the front of the line to get these loans.”.
Treasury secretary Steven T. Mnuchin said on Monday that more than 80 per cent of small business employees had benefited from PPP loans. »
