Millennial-aimed news outlet TheSkimm was approved for a $2 million to $5 million bailouts to retain 121 jobs, according to the SBA, which just released the list of loan recipients.
The $670 billion federal program was approved in March as part of emergency economic measures amid the coronavirus pandemic. The SBA made 4.9 million loans, totaling $521.4 billion at an average size of $106,744.it laid off about 20% of its 130-person staff as ad revenue took a dive after the pandemic hit and faces questions about its future, with funding sources drying up and its business relying heavily on ad revenue.
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