Pearl Jam, the Eagles, Guns N’ Roses, and Green Day are among the bands who 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 go to supporting and retaining the artists’ crews and staff; Rolling Stone notes that the Eagles’ loan is listed under their touring company and will help save 50 jobs. Larger loans—between $350,000 and $1 million—were taken out by the Eagles, Pearl Jam, and Disturbed. Out of 660,000 recipients, Rolling Stone reports that over 40 musicians and bands received loans for over $150,000, including Weezer, Imagine Dragons, Chainsmokers, Nickelback, and Jason Isbell.
Various major and independent labels also received PPP loans, including Sub Pop Records, Third Man Records, and Knitting Factory Records, who each received a minimum of $350,000.
Read our Overtones column “An Ode to Live Music in a Time of Silence.”
