By Jill Goldsmith Dolphin Entertainment, the parent of 42 West said it took a total of $2 million in loans under the government’s Paycheck Protection Program (PPP) including $725 million for the public relations powerhouse.
Dolphin said $725,000 of the five separate loans went to 42 West, an agency whose A-list clients include Tom Hanks and Meryl Streep.
The proceeds from each PPP Loan will be used in accordance with the terms of the CARES Act program, Dophin said in an SEC filing.
The loans mature between April 19, 2022 and April 23, 2022 and with an annual interest rate of 1%. They’re meant to give small companies decimated by the coronavirus pandemic a lifeline.
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