Eagles, Guns N ‘Roses, and Pearl Jam receive PPP loans

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Through the Paycheck Protection Program (PPP) launched by the US government in response to the COVID-19 Pandemic, some big rock acts including the Eagle, Guns N ‘Roses and Pearl jam, are the recipients of loans to aid their tour crew members.

The news comes over Rolling Stonewho was reviewing data released by the Treasury Department and the Small Business Administration yesterday (July 6th). They found more than 40 acts from across the musical spectrum, including Cheap trick, Weezer, Green day and toolwho received between $ 150,000 and $ 350,000. The article notes that the Eagles and Pearl Jam were among those loaned out between $ 350,000 and $ 1 million.

but Rolling Stone Stresses that the loans were given to their touring companies rather than the performers, adding that the Eagles’ money is said to be helping 50 people through this difficult time, according to the data. The band was in the middle of one trip where they played their landmark album Hotel California in its entirety, with an orchestra when the lockdown forced them off the streets with 12 shows remaining in six cities. The dates were original postponed for this fall, but they have been since then pushed back even furtheruntil autumn 2021.

The PPP was created as part of the $ 2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act passed in March to help those economically affected by the pandemic. The Small Business Administration released the information showing that at least $ 660,000 was loaned at least $ 150,000 after pressure was put on the media to disclose the recipients.

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