Impact Wrestling parent company Anthem Wrestling Exhibitions, LLC reportedly requested a Paycheck Protection Program (PPP) loan from the United States government.
Anthem filed a request on April 5 for a loan between $150,000 and $350,000, according to the Wrestling Observer Newsletter. It was noted that the reason for the loan was to retain 106 jobs within the company.
The Paycheck Protection Program was a $669 billion business loan program launched by the federal government as a part of the Coronavirus Aid, Relief and Economic Security Act, also known as the CARES Act. The program was established to help various businesses, large and small, self-employed workers, some non-profit organizations, tribal businesses, and sole proprietors. The program offers low-interest private loans to cover payroll, rent, utilities and other costs. The amount of PPP loans were worth around 2.5 times the applicant’s average monthly payroll costs, and the loans could be fully or partially forgiven if the business keeps its employee count and wages stable.
It looks as if the only major wrestling company to request a PPP loan was Anthem. The original deadline to file for a PPP loan was June 30 but businesses now have until August 8 to file.
Stay tuned for updates.
Source: Wrestling Observer Newsletter
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