Under increasing public pressure, the Trump administration has finally published information detailing which U.S. companies have received money from the Paycheck Protection Program, the government’s $ 660 billion stimulus package meant to keep small businesses afloat amid the ongoing Covid-19 pandemic. A handful of the more than 600,000 publicly traded companies include those belonging to a number of notable metal and hard rock groups such as Slipknot, Tool, new MetalSucks favorites Nickelback, Papa Roach, Sammy Hagar, and more.
Only companies that received $ 150,000 or more are listed in the report. These loans represent 75% of all loans approved, but only 13.5% of the number of loans granted (out of 4.9 million total loans) through the Small Business Administration (SBA). Paycheck Protection Program loans can be canceled, essentially making them grants, but only if the funds are used to continue paying company staff to pre-pandemic levels.
The report groups loan recipients by dollar increments rather than revealing the exact amount given. Most of the bands we found in the rows of the report were in the lowest group, ranging from $ 150,000 to $ 350,000.
Nickelback Touring 2 is one of the larger group companies listed in the report. California Records indicate that the owners of the business are Chad Turton (birth name of Chad Kroeger before he began to bear his mother’s maiden name at the age of two after his father left), Mike Kroeger (Nickelback bassist and Chad’s brother) and Bernard Gudvi (A business manager).
Other business entities that MetalSucks has been able to confirm to belong to groups include Red Rocker Touring (a California business entity registered with Sammy Hagar), Papa Roach Touring Inc. (explicit), Knot Touring LLC (Slipknot – an entity appointed as a former percussionist Chris Fehn’s legal battle against the group), Tool Touring Inc., Stoopid Touring Inc. (Slightly stoopid), Tesla Touring Inc. (the 80s band, not the automaker), Weezer Touring Inc., Imagine Dragons Touring Inc., Sevendust Touring Inc., Pearl Jam Touring Inc., Skillet Touring LLC, Switchfoot Touring Inc. and Green Day Touring Inc. All of the above were included in the $ 150,000 to $ 350,000 group.
Disturbed Touring Inc. is listed as having received a loan between $ 350,000 and $ 1 million to retain 17 employees. MetalSucks has not been able to directly confirm that this company is owned by Disturbed members, but the address given is the home address of Management of boulevards, a business management company whose main clients are athletes, musicians and actors.
The companies we highlighted above out of the over 661,000 listed in the report are those MetalSucks was able to find by searching for the word “tour” in the publicly available spreadsheet. Needless to say, many notable groups have set up companies to handle non-touring facets of their business, and others have touring-related entities that don’t have the word “tours”. Additionally, the report does not include bands that received loans of less than $ 150,000. In other words, the bands above are surely only scratching the surface of metal and hard rock bands that have received PPP loans.
Another musical act that appears on the report, rapper Lil ‘Jon said The New York Times via its publicist that the funds were used to pay its core touring staff after 75 shows were canceled due to the pandemic. We would expect the bands we listed above to have done the same or similar to keep their staff on board, otherwise the loans will have to be repaid or just returned.
Slipknot’s loan application indicated that the band would use the funds to retain 30 employees; Green day, 26; Nickelback, 17; Daddy roach, 8 years old; Sammy Hagar, 22; and Tesla, 24. It’s unclear if these numbers include the group members themselves, which would depend on how each business entity is set up.
You can view the full SBA report here.
Update, 2:59 p.m. EDT, July 8: Since the publication of this article, we have gone through the SBA document in more depth and published information regarding PPP loans taken out by dozens of other entities including Sam Ash, Ibanez, Paul Reed Smith, Victory Records , Metal Blade Records and many more. You can read it here.