When you think about it, a rock band is kind of like a small business. And sure enough, lots of bands qualified for federal small business loans during the pandemic.
According to data from the U.S. Small Business Administration, some of the bands who took loans include Pearl Jam, Nickelback, Tool, Papa Roach, Slipknot, Green Day, and Weezer.
Paycheck Protection Program, or PPP loans, were designed to help small businesses keep paying their employees during the pandemic. Most of the bands received loans in the ballpark of $150,000-350,000.
In what other ways is a rock band like a small business? Should they qualify for federal loans if they’re signed to a record label?