3 takeaways from AP review of small-business loan program
The federal government is trying to help U.S. small businesses keep workers on the payroll as the economy weathers the shock caused by shutdowns over the coronavirus.
One solution was the Paycheck Protection Program, which offers loans of up to $10 million for businesses that meet the government definition of small.
An Associated Press investigation found that among the businesses receiving aid were 75 firms that were listed on stock exchanges. Some of the companies had thousands of employees, past run-ins with financial regulators or had publicly declared they were in financial trouble even before the virus.