Companies receiving PPP loans include Kanye West's apparel business Yeezy, Jim Henson Co. and Beverly Hills-based talent agency the Gersh Agency.
With Hollywood on hold, so are the livelihoods of thousands of workers who depend on the film and TV business that has halted during the coronavirus pandemic.Hollywood-based Jim Henson Co., creator of the muppets, said a $2-million PPP loan helped it retain 75 workers when the studio had to shut down key businesses, such as live-action productions.
The Apatow Co. was among several Southern California entertainment businesses approved for loans. The company said it received $160,000 but ended up not using the money and returned the loan. New Regency Productions was approved for a PPP loan of $1 million to $2 million, helping retain 50 jobs, according to the government data. And Village Roadshow Entertainment Group USA Inc. retained 26 jobs with a loan of $350,000 to $1 million, according to government data.
Talent agencies that received PPP loans included the Gersh Agency of Beverly Hills and L.A.-based Verve Talent and Literary Agency. Gersh received a $5-million to $10-million loan, helping retain 250 jobs. Verve received $350,000 to $1 million and preserved 68 jobs, according to government data. The agency said the loan allowed it to restore full salaries that had been cut.
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