Last Night’s New PPP Data Shows Aid Overwhelmingly Went to Larger Companies
WASHINGTON, D.C. – Last night, following months of obfuscation, delays, and a lost legal battle, Trump’s Small Business Administration (SBA) finally released information last night on recipients of Paycheck Protection Program (PPP) loans up to $150,000. While the program was billed as a much-needed relief program for mom-and-pop businesses struggling to weather the tough economic conditions brought on by COVID-19, it’s clear from the data that it was not small businesses, but fraudsters and well-connected larger businesses, that won out in the PPP.