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METALLICA Fan Club, Ibanez, Victory Records & More All Received PPP Loans During COVID-19

Posted by on July 9, 2020 at 12:21 pm

The U.S. government's Paycheck Protection Program shelled out $660 billion dollars to more than 4.9 million small businesses. The loans would be forgiven as long as its recipients used at least 75% to pay employees at pre-pandemic levels. The loans were distributed in tiers ranging from between $150,000-350,000 up to $5-10 million.

MetalSucks dug through the extensive data available from the government about where the money went and found quite a few metal-related entities. These entities ranged from instrument manufacturers like Paul Reed Smith, Ibanez, and Music Man, to record labels like Metal Blade, Sumerian, and Victory.

Here is a look at some of the companies they tracked down.

Companies that took loans between $5 million and $10 million:

  • American Musical Supply, Inc.; 474 employees
  • Sam Ash Music Corporation; 500 employees
  • The Brooklyn Academy of Music; 466 employees

Between $2 million and $5 million:

  • Paul Reed Smith Guitars; 373 employees

Between $1 million and $2 million:

  • Moog Music Inc.: 157 employees
  • Peavey Electronics Corporation; 81 employees
  • Hoshino USA Inc. (Ibanez); no number of employees listed
  • Korg USA Inc: 84 employees

Between $350,000 and $1 million:

  • Metallica Club, Inc. (Seemingly Metallica's fan club business? The corporation's owners include James Hetfield, Kirk Hammett and Lars Ulrich); 20 employees
  • Q Prime, Inc. (Managers of bands like Metallica, Baroness, Disturbed, Volbeat, Muse); 36 employees
  • Equal Vision Records, Inc.; 80 employees
  • Sub Pop Records; 60 employees
  • Third Man Records, LLC: 30 employees
  • Kiesel Guitars; 49 employees
  • Schecter Guitar Research Inc.; 51 employees
  • Mesa/Boogie, Limited: 75 employees
  • EMG Inc; 58 employees
  • DiMarzio Inc.; 60 employees

Between $150,000 and $350,000:

  • Sumerian Records, LLC; 19 employees
  • Metal Blade Records, Inc.; 15 employees
  • Victory Records, Inc.; 24 employees
  • Cleopatra Records Inc.; 15 employees
  • Hopeless Records, Inc.; 13 employees
  • Kings Road Merchandising, Inc.; 33 employees
  • Amoeba Music, Inc.; 26 employees
  • House of Blues Music Forward Foundation; 16 employees

View the full list at MetalSucks.

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