According to knowledge from the Small Business Administration and Treasury Department, the cash will go to supporting and retaining the artists’ crews and workers; Rolling Stone notes that the Eagles’ mortgage is listed beneath their touring firm and can assist save 50 jobs. Larger loans—between $350,000 and $1 million—had been taken out by the Eagles, Pearl Jam, and Disturbed. Out of 660,000 recipients, Rolling Stone studies that over 40 musicians and bands acquired loans for over $150,000, together with Weezer, Imagine Dragons, Chainsmokers, Nickelback, and Jason Isbell.
Various main and impartial labels additionally received PPP loans, together with Sub Pop Records, Third Man Records, and Knitting Factory Records, who every acquired a minimal of $350,000.
Read our Overtones column “An Ode to Live Music in a Time of Silence.”