Teen Mom Kailyn Lowry's $48K in PPP loans for her podcast & haircare company FORGIVEN as she builds $850K mansion
TEEN Mom Kailyn Lowry’s $48k in PPP loans have been forgiven for her podcast and her shuttered haircare company, as she builds an $850,000 mansion.
The Sun can exclusively reveal the Teen Mom star, who has been sharing the jaw dropping interiors of her custom-built Delaware mansion, has been forgiven for the two loans totaling $48,000 from the Paycheck Protection Program, according to records.
PPP loans are part of a federal program with funds earmarked for small businesses hit hardest in the pandemic to help them pay employees.
Kail, 29, who first took out the loans for her podcast company Kailyn Lowry LLC and her haircare company, Pothead Inc in April of 2020- was let off the hook for them in June of 2021.
The Pothead Inc loan was for $17,048, with records noting that the funds were anticipated to be used for payroll expenses- the company boasted two employees.
In July, a month after she was forgiven for the two loans, Pothead Inc’s Instagram page announced it was closing up shop and alleged it was only a temporary closure, although there have been no updates since.
The beauty company claimed the reasons for the closing are "issues" related to "CBD regulations, deliveries being 'confiscated' on route, and the 'restricted ability to advertise.'"
Kailyn Lowry LLC is at least in part used for her Coffee Convos Podcast which, according to the loan filing, has five employees.
Last year Kail boasted: "Truthfully I make more money on my podcast than I do on an episode of Teen Mom.”
She made the disclosure after she opened up about choosing not to participate in an episode of the show because she said she didn’t agree with the story line.
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KAIL’S CUSTOM MANSION
The Teen Mom star has been building her Delaware mansion for the better part of a year.
Kailyn has been sharing updates throughout construction, especially as it comes to an end.
As 2021 came to a close, the MTV personality shared with fans just how close to done her home is.
She purchased the land to build her home on in February 2021 and spent the entire year working on it.
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