Indie Labels Dreamville, Stones Throw and Third Man Records to Receive Federal Government Loan

Receiving a minimum loan amount of $150,000 USD.

By
Music
4,225 Hypes 2 Comments

J. Cole‘s Dreamville, Jack White‘s Third Man and the revered Stones Throw Records are just some of the independent record labels that will receive a loan from the federal government’s Paycheck Protection Program.

According to a list released by the Small Business Administration, the three labels will be joined by the likes of Sub Pop Records (Shabazz Palaces, Father John Misty, Foals) and Rostrum (Mac Miller, Wiz Khalifa), along with other music business companies such as the Grammy Museum Foundation, Gotta Groove Records, Reckless Records and music publisher/label ABKCO.

These companies will receive a minimum loan of $150,000 USD and a maximum of $10 million USD. “The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,” Secretary Steven T. Mnuchin said. Administrator Jovita Carranza added, “The PPP is an indisputable success for small businesses, especially to the communities in which these employers serve as the main job creators.”

In related news, watch J. Cole spit a freestyle in this new behind-the-scenes ROTD III visual.

Read Full Article

What to Read Next

'TRON 3' Is Back in Development Once Again
Entertainment

'TRON 3' Is Back in Development Once Again

Set to star Jared Leto.

DUCKWRTH Drops Animated "Find A Way" Visual
Music

DUCKWRTH Drops Animated "Find A Way" Visual

Following the release of the single’s empowering lyric video.

The Year In Footwear Has Not Been Everything We Predicted
Footwear 

The Year In Footwear Has Not Been Everything We Predicted

Trying to make sense of a wild six month stretch with the benefit of hindsight.


Ian Isiah Shares New "Loose Truth" Music Video Starring Essential Care Workers
Music

Ian Isiah Shares New "Loose Truth" Music Video Starring Essential Care Workers

His upcoming Chromeo-produced ‘AUNTIE’ project will release later this year.

Chase Hall and February James Explore Black Identity in Intimate Portraits
Arts

Chase Hall and February James Explore Black Identity in Intimate Portraits

Two solo presentations to run concurrently at Chicago’s Monique Meloche Gallery.

Kenny Mason Premieres New Song "Storm"
Music

Kenny Mason Premieres New Song "Storm"

Following his debut ‘Angelic Hoodrat’ project.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.