Pearl Jam, the Eagles, Guns N ‘Roses and Green Day are among the groups that have received loans from the federal government’s Paycheck Protection Program, Rolling stone reports.
According to data from the Small Business Administration and Treasury Department, the money will be used to support and retain the artists’ teams and staff; Rolling stone notes that the Eagles’ loan is on their tour company list and will save 50 jobs. Larger loans – between $ 350,000 and $ 1 million – have been taken out by the Eagles, Pearl Jam and Disturbed. Out of 660,000 recipients, Rolling stone reports that more than 40 musicians and groups have received loans over $ 150,000, including Weezer, Imagine Dragons, Chainsmokers, Nickelback and Jason Isbell.
Various major and independent labels have also received PPP loans, including Sub Pop Records, Third Man Records and Knitting Factory Records, which each received a minimum of $ 350,000.
Read our column Overtones “An ode to live music in a time of silence”.