Over the weekend Kanye West announced via Twitter that he was running for president in 2020. Many believe he is entering the race to help Donald Trump in some way.
On Monday the Small Business Association released documents that reveal that West’s fashion Line Yeezy received more than $2 million through the Paycheck Protection Program set up to help small businesses through the pandemic.
West, who is a billionaire, owns 100% of Yeezy, which brought in $1.3 billion in 2019.
According to the SBA, report Yeezy received $2 million than $5 million through the PPP and claimed the funding helped him save 106 jobs.
The SBA released the names of companies who received PPP loans in excess of $150,000 after government watchdogs and Democrats demanded more transparency.
The SBA said that “loans above $150,000 represent nearly three-fourths of the total loan dollars approved, but that 87% of companies received loans less than that amount and that the average is $107,000.”
The PPP received several complaints about favoring companies with ties to the Trump Administration.
West has been an outspoken Trump supporter and he raised eyebrows when he met with Trump in the Oval Office in October of 2018.
The records show that other companies with close ties to Trump and his administration also received PPP funds. Those companies include Transportation Secretary Elaine Chao’s family’s business, Foremost Maritime, and businesses owned by Jared Kushner’s family.
Last month Treasury Secretary Steven Mnuchin stated that the Trump Administration would not disclose company names, but the SBA later stated it would release the records for companies who received loans of $150,000 or more.