Gaming companies line up for pandemic relief loans

Developers take advantage of US program that will cancel loans to retain staff, deadline to apply is August 8

While some sectors of the video game industry have seen their businesses improve with the ongoing COVID-19 pandemic, others are not so fortunate.

As part of its response to COVID-19, the United States launched the Paycheck Protection Program (PPP) to encourage employers to keep staff on the payroll, and a JeuxIndustrie.biz A review of data released by the program identified more than 75 game companies that combined for a minimum of $ 30 million in loans.

Under the terms of the program, the loans carry an interest rate of 1% and can be canceled if the borrowing companies spend at least 60% of the money on the payroll. There are no fees or guarantees required.

There is still time for developers to take advantage of the program, as the deadline to apply for PPP is August 8. More information is available at the US Small Business Administration website.

As of June 30, nearly 4.9 million PPP loans have been approved for a total of over $ 521 billion loaned. Loans of $ 150,000 or less accounted for 86.5% of loans approved and 27.2% of money loaned.

A list of the gaming industry companies we’ve identified in PPP data (minus distributors, retailers, and arcade operators) and the dollar range of their loans follow below. At least one of the companies below, Star Theory Games, has closed since he received his loan.

$ 2 million to $ 5 million

$ 1 million to $ 2 million

  • Blind squirrel entertainment
  • Boss Fight Entertainment
  • Firewalk Studios (probably monsters)
  • Halon entertainment
  • Interpid Studios
  • Iron galaxy studios
  • Just Games Interactive Entertainment (Kung Fu Factory)
  • Manticore games
  • Schell games
  • Interactive Smart Bomb (WildWorks)
  • Super Gaming League
  • Interactive Tripwire

$ 350,000 – $ 1 million

  • Allied Sports International
  • Artix Entertainment
  • Cauldron Studios (probably monsters)
  • Counter-play games
  • Demiurge workshops
  • E-line Ventures (Gamestar Mechanic)
  • Esports Arena Las Vegas
  • HoldCo Esports
  • Filament sets
  • Final strike games
  • Free range games
  • Entry games
  • Heavy iron studios
  • Hidden Path Entertainment
  • Limited run games
  • Maximum family games (maximum games)
  • Monster games
  • Entertainment elsewhere
  • Petroglyph games
  • Phosphorus games
  • Probably monsters
  • Prophecy games
  • Red games
  • Robot entertainment
  • Snail Games USA
  • Squanch games
  • Standing stone games
  • Supergiant games
  • Twisted pixel games
  • Uber Entertainment (Star Theory Games)
  • Valkyrie Entertainment

$ 150,000 – $ 350,000

  • 1047 games
  • Interactive Entertainment Academy
  • Addictive games
  • Location of Aksys games
  • Disruptive games
  • DM Esports
  • Esport arena
  • Esports one
  • e-United Esports
  • Fun-gi games
  • Games for change
  • Hidden Variable Studios
  • Entertainment Intelligence
  • IThrive Games Foundation
  • Lost boys interactive
  • Mitosis games
  • Mohawk games
  • P1 Esports
  • Phaser Lock Interactive
  • Pro Esports Gaming
  • Red lentil sets
  • Rotating games
  • Rogue Games
  • Secret society games
  • Six foot sets
  • Soul-related studios
  • Stray Kite Studios
  • Surge Esports
  • Interactive Push
  • Tonk Tonk Games
  • Wichita Esports
  • Wolfjaw studios
Source link

About Leslie Schwartz

Check Also

SBI Adani I case French Amundi threatens to sell SBI bonds on proposed loan for Adani coal mine of 5,000 cr

French Amundi threatens to sell SBI bonds on proposed loan for Adani coal mine of …

Leave a Reply

Your email address will not be published. Required fields are marked *