The majority of unforgiven PPP funds fall into one-individual companies
Monday, August 26th, 2024Most unforgiven PPP finance get into that-person people
Fewer than 10% of all the Income Safeguards Program financing remain unforgiven, and most people end up in one to-person businesses – businesses the program most designed to help.
We’ve been speaking recently regarding the Paycheck Shelter Program, and this effectively paid down people to store specialists with the payroll throughout new pandemic. Those funds came in the type of finance, and vast majority of these money were forgiven a whole lot more than simply ninety%. That’s despite the system becoming slammed having giving currency to help you undeserving recipients, even outright scammers.
So who will be the small percentage away from individuals with unforgiven PPP loans? Austin Quick and that i have been revealing on this having NPR’s investigations group, and you can what we discover will get treat you. (more…)
