Senn and Grado received PPP loans to cover their employees
post-15722901
Thread Starter
Post #1 of 1

HiGHFLYiN9

Member of the Trade: Zynsonix
Joined
Feb 10, 2004
Messages
5,762
Reaction score
294
Location
East Coast
Joined
Feb 10, 2004
Location
East Coast
Posts
5,762
Likes
294
Website
www.zynsonix.com
Some good news that I stumbled onto today:

https://www.theverge.com/2020/7/6/2...paycheck-protection-coronavirus-pandemic-loan

"Audio company Sennheiser received between $2 million and $5 million as part of the Paycheck Protection Program (PPP), according to newly released US Department of Treasury data. It’s one of many privately held tech companies to receive support through the program, which offers small businesses forgivable loans that can be spent on payroll, rent, or utility costs.

Treasury data indicates that the loan is intended to help Sennheiser retain 128 jobs during the coronavirus pandemic. (The German company employed a total of 2,800 employees in 2019, approximately 10 percent of whom were based in the Americas.) While we don’t know the precise dollar number, it’s one of the PPP’s larger payments — single loans top out at $10 million, and the average loan size is listed as approximately $100,000.

It’s not the only audio company getting money. New York-based Grado Laboratories received between $150,000 and $350,000 to retain 22 jobs."


Glad some of our favorite audio companies were able to take advantage of the program :beerchug:

(friendly reminder: please avoid political discussion).
 
     Share This Post       
  • Like
Reactions: Ryokan

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top