Quantcast
Share This:

It's Just Business

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.

What do you think? Leave a Comment

Subscribe To Our Daily Dose Newsletter

At the end of each day, we will send you an email with all the updates we posted that day.

Related Posts

Sponsored Links from Around the Internet

COMMENTS