GAY DATING APP GRINDR GOT $1-2M, BURNING MAN $5M FROM TRUMPS PPP PROGRAM

New York Post:

Boutique fashion lines and high-end hotels were among the hundreds of thousands of businesses receiving money from the Trump administration’s high-profile $660 billion pandemic aid program.

Among the recipients included on the list released by the Trump administration on Monday was Kanye West’s Yeezy apparel brand, which received as much as $5 million from the PPP, according to the SBA.

Yeezy, which is described as a “Black” business on the form, saved 106 jobs with the loan that was approved on April 13.

Gay dating app Grindr also received $1 million to $2 million in loans, according to the Treasury. The company, which was recently sold by Beijing’s Kunlun Tech to an investor group called San Vicente Acquisition, said that the funds helped it stave off 69 layoffs.

A list of local businesses that took millions in government bailout money, meanwhile, reads like a luxury handbook to living in New York City.

In addition to well-heeled cultural institutions like the Whitney Museum of American Art and the Brooklyn Academy of Music, high-end fashion brands like rag & bone and Alice + Olivia. Hipster temple SoHo House received as much as $4 million for its three locations in the Meatpacking District, Dumbo and East Village.

Trendy lunch spot Chop’t received at least $5 million and coffee chain Gregory’s received at least $2 million, while Danny Meyer’s Union Square Cafe got $1 million to $2 million.

Other recipients of PPP loans were expensive retailer ABC Home and Carpet, Alexander Wang and lingerie company Hanky Panky, which received $2 million to $5 million apiece.

Read more at The New York Post

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