Business

NYT: Quarter Of PPP Loans Went To Just 1% Of Businesses

Over a quarter of the money allocated to help small businesses stay afloat amid the pandemic went to just 1% of the companies in need.

NYT: Quarter Of PPP Loans Went To Just 1% Of Businesses
Tony Dejak / AP
SMS

More than a quarter of the money allocated to help small businesses stay afloat amid the pandemic went to just 1% of the companies in need.

A New York Times report found about 600 businesses, including powerful law firms and restaurants chains, received the maximum payment of $10,000,000.

More than 5.2 million businesses received PPP loans.