Eagles and Guns N’ Roses are reportedly among the musicians who have received financial support during the COVID-19 crisis.
With almost all bands unable to perform live since March, except specially designed socially distanced concerts, many of rock’s biggest acts have applied for support to help them pay their touring crews, according to Rolling Stone magazine.
Data released by America’s Small Business Administration and Treasury Department and obtained by the publication showed the Eagles, Pearl Jam and Disturbed took out loans of between $350,000 (£280,000) and $1 million (£800,000).
Other artists, including Green Day, and Tool, also received loans of more than $150,000 (£120,000) and $350,000. Nickelback, Imagine Dragons, Incubus, Slipknot, My Chemical Romance, Wilco, Weezer, Cheap Trick, Tim McGraw, Chainsmokers, Bon Iver’s Justin Vernon, Disturbed, Gary Clark Jr., Papa Roach, Ryan Tedder and the Head and the Heart are also on the loan list.
Rappers Wiz Khalifa, French Montana and Lil Jon also received financial help, as well as country stars Rascal Flatts, Chris Stapleton, Luke Combs, Kip Moore and Jason Isbell.
The loans are for the artists’ touring companies, with the Eagles helping retain 50 jobs while they are unable to perform during the pandemic.
The news comes after Kanye West’s clothing company Yeezy was granted a loan of between $2 million (£1.6 million) and $5 million (£4 million), as part of government programmes, despite the star being described by Forbes as a billionaire.
Follow Noise11 on Social Media
You’ll discover music news first following Noise11 on Twitter
Comment on the news of the day, join Noise11 on Facebook
