A story today by Beauty Insider has revealed that Killer Merch, a merchandise company which Jeffree Star says he owns, appears to have received a coronavirus relief loan.
According to ProPublica’s database of companies approved for over $150,000 in Paycheck Protection Program (PPP) loans, and disclosed by the Small Business Administration (SBA), Killer Merch LLC received a loan in the amount of $350,000 to $1 million on May 3. In the SBA data, published by ProPublica, Killer Merch LLC reported 59 jobs.
PPP Loans are part of the federal CARES act and are intended to help small businesses during the current pandemic, because of the impact it has had on the economy.
The loans have become essential for some business to keep their staff on payroll. The SBA said that the loans would be fully forgiven if businesses put them towards payroll costs, mortgage interest, rent, and utilities.
The SBA has approved over 5.2 million loans when the program ended on August 8th, costing approximately $670 million in emergency economic relief.
Jeffree Star Cosmetics, which is run by Star, also was reported to have received a PPP loan in an amount of $350,000 to $1 million according to SBA data. That loan was also approved on May 3, and Jeffree Star Cosmetics, Inc listed 21 employees.