Loopholes In Small Business Relief Program Allowed Thriving Companies To Cash In
The Paycheck Protection Program, designed to help small businesses struggling during the pandemic, was vulnerable to loopholes that allowed thriving companies to receive money.
Small and struggling. Those were the companies meant to be helped by the Paycheck Protection Program, which offers loans to small businesses clobbered by the shutdown of the economy.
The program has helped many such companies. But the law's fine print didn't close all loopholes. Large companies, we now know, got loans. And, now it appears that companies didn't have to be struggling to win a loan, either.
