‘American Pickers’ Mike Wolfe’s PPP Loan Forgiven As Show Tanks

American Pickers star Mike Wolfe does not have to pay back his PPP loans. This comes amid the show’s declining ratings. Season 23 of the History Channel series premieres on Saturday, January 1, 2022. While the ratings hit above one million viewers, it didn’t have as strong of a start as it did in the past.

The show premiered without Frank Fritz as the host. Mike’s brother, Robbie Wolfe, has taken over the hosting duties and fans are not happy. They’re boycotting the new season as they wait for the network to bring Frank back. In the meantime, the show is tanking and is currently under one million viewers.

The PPP forgives American Pickers star Mike Wolfe’s $74k loan

Mike Wolfe took out a $74,097 loan at the height of the COVID-19 pandemic. The PPP had since forgiven the American Pickers star for the loan on his Nashville store. Like most businesses, Mike needed some financial support during the pandemic since businesses were closed during the time. He took out a business loan for relief aid for his Antique Archaeology Nashville on April 27, 2020.

According to the filings obtained by The Sun, the PPP has “forgiven” the amount of the loan in the amount of $75,080, which includes interest. When a loan is forgiven, the owner does not have to pay it back. Mike isn’t the only reality star who’s had his loan forgiven. As TV Shows Ace previously reported, the PPP also forgave Teen Mom alum, Kailyn Lowry, her $48,000 loans, which she used for her haircare company and podcast.

As for Mike’s loan, he used it for payroll for 10 of his employees. Mike and his ex-wife Jodi took out the PPP together. Jodi is listed as a registered agent on the Tennessee business license for Antique Archaeology Nashville, LLC. In December 2021, she was awarded the store and business when they finalized their divorce. Mike also owed his ex-wife over $6 million in their divorce.

American Pickers ratings continue to tank

Meanwhile, the ratings for Season 23 of American Pickers continue to tank. Fans are not happy with the new format of the show. They’ve been boycotting the current season and asking for Frank Fritz to return. The show’s ratings are under one million viewers for the first time since Frank’s firing.

The Saturday, January 15 episode only attracted 859,000 viewers. Frank last appeared on American Pickers during a March 2020 episode. The March 2, 2020 episode, had 1,282,000 viewers. Some are wondering about the future of the show.

Could American Pickers be in trouble? Meanwhile, Mike’s girlfriend Leticia has her own $200,000 business. He may want to hold onto her if the show is headed for cancelation. What are your thoughts on the PPP forgiving Mike’s loan? Do you like Season 23 so far? Sound off below in the comment section.

Check back with TV Shows Ace for more news on the cast of American Pickers.