Pearl Jam and Green Day among groups receiving PPP loans for postponed tours

Some of the biggest acts in music — including Pearl Jam, Guns N’ Roses and Green Day — have received federal funding to support their crews for any current and future postponed tours.

Ph. Henry Ruggeri

According to Rolling Stone, with concert tours completely shuttered through the ongoing COVID-19 pandemic, some of the biggest acts in music have received federal funding to support their crews for any current and future postponed tours, according to data released Monday by the Small Business Administration and Treasury Department.

The financial support is part of the government’s recently enacted $2 trillion CARES act intended for relief to small businesses impacted by the coronavirus.

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.