Kanye West's Yeezy got millions in federal small business loans July 6, 2020 / 4:36 PM / AP “Cataclysmic” impact on small businesses “Cataclysmic” impact on small business… The rapper's recent explosive Twitter outburst saw the 47-year-old claim that his spouse Kim Kardashian tried to have him "locked up" following his off-the-cuff speech … Kanye West has been stirring up a storm on social media and in the entertainment news headlines lately. Kanye West was swimming in debt four years ago after pouring money into his fashion company, Yeezy. Kanye West's clothing brand, Yeezy, received a loan worth between $2 and $5 million through the Payment Protection Program, according to Treasury Department data released Monday. A representative for Yeezy did not immediately respond to request for comment.Iconix Brand Group, a publicly traded company that owns the Candie's, Joe Boxer and Ed Hardy brands, received between $1 million and $2 million.Retailers and manufacturers saw their revenue fall precipitously because of the shutdowns, and they were also left with a season's worth of clothes they couldn't sell.Copyright © 2020 CBS Interactive Inc. All rights reserved.The list included high-end designers Oscar de la Renta and Vera Wang and suit maker Hickey Freeman, all of which got loans in the $2 million to $5 million range.Untuckit, a shirt retailer with 85 locations, had two loans between $5 million and $10 million.Quotes delayed at least 15 minutes.Some other well-known fashion and retail names whose business was pummeled by store closings across the country also received the 1% loans that can be forgiven if worker-employment goals are met.Be in the know. Kanye West is reportedly still focusing on his business ventures despite his alleged family feud and controversial social media remarks aimed at his wife and mother-in-law. New information about Kanye West's deal with Adidas for sneaker brand Yeezy convinced Forbes to call the entrepreneur and musician a billionaire. Sources close to Kanye told the American website, "this drama-filled week has not had a negative impact on his massive deals with Adidas and GAP".Despite his Twitter rants and uncertainty about the future of his relationship with wife Kim Kardashian, Kanye West is concentrating his efforts on two big partnerships with Gap and AdidasThe Jesus Walks hitmaker was meant to release his upcoming album Donda on Friday, but decided to push back the date.While it has been claimed he has refused to let his wife visited his Wyoming Ranch, Kanye was visited by a celebrity on Friday.He wrote: "DD & JB discussing the new spray foam wall prototypes on the YZY campus."Justin Bieber and wife Hailey have been driving around the country in an RV, and they made a stop at Kanye's country abode.The father-of-four posted a snap of the two of them, along with Damon Dash.He told attendees he and Kim considered aborting their daughter, North West, now seven-years-old.The insider added that Kanye has hired a large team to help keep everything working smoothing, and the clothing retailers trust they'll continue operations on schedule.The rapper's recent explosive Twitter outburst saw the 47-year-old claim that his spouse Kim Kardashian tried to have him "locked up" following his off-the-cuff speech at his rally at South Carolina earlier this month.Justin and Kanye have become close through music and faith, and the pair regularly support each other on various projects.But Kanye is not letting his "bipolar episode" get in the way of his upcoming partnership with new clothing giants, as sources told TMZ "it's business as usual".Kayne reportedly hired Mowalola Ogunlesi as his lead designer for his YZY GAP project and this week hasn't halted anything she's been working on. Get the latest breaking news delivered straight to your inbox.

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