REPORT: Over $2.7 Billion In PPP Money Went To Well-Off Individuals With No Employees
WASHINGTON, D.C. – An analysis from government watchdog group Accountable.US shows that nearly 130,000 recipients of Paycheck Protection Program loans were self-employed individuals with no employees and making over $100,000 annually — but still received $20,833 in PPP funding, the maximum amount allowed by the legislation. This is the same loan program that all but shut out business owners in communities of color from accessing funding and is now infamous for the avoidable millions lost in waste, fraud, and abuse.