Earlier this week the Small Business Administration and Treasury Department released the list of groups who received money from the $2 trillion CARES act, which was intended to give relief to small businesses impacted by the coronavirus. Well it turns out a lot of big name bands received some of that money because of their postponed tours.
According to “Rolling Stone” more than 40 acts received PPP loans, including The Eagles, Pearl Jam, Green Day, Guns N’ Roses, Tool, Nickelback, Imagine Dragons, Weezer, Cheap Trick, Lil Jon, Chainsmokers, Wiz Khalifa, Disturbed, Papa Roach and more.
Bands like The Eagles, Pearl Jam and Disturbed received loans of between $350K and $1 million, while many others received between $150,000 and $350,000. For most of the artists, the loans are listed to the artists touring companies.
Source:Rolling Stone
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