Though it’s not immediately clear the exact amount each company was approved for, MPTF and the Gersh Agency are listed as getting approval for a loan in the $5-10 million range to help save 472 and 250 jobs, respectively. AFI is listed as being approved for a loan in the $2-5 million range to help save 307 jobs, while Yeezy LLC was approved for a loan in the same range to help retain 106 jobs.
The PPP loans, which were created to help small businesses that have been impacted by the COVID-19 pandemic, are for businesses with 500 employees or fewer to help cover payroll costs. The funding comes from participating banks and lending institutions, which are guaranteed by the SBA.
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