PPP loans were supposed to help small businesses in low-income areas. Data reveals they didn’t. John Iadarola and Jayar Jackson break it down on The Damage Report.
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Read more here: https://publicintegrity.org/inequality-poverty-opportunity/covid-divide/ppp-loans-did-not-prioritize-low-income-areas-small-businesses-pandemic/
"As the pandemic hit, orders cratered at KB and Katie Brown’s print shop in Minneapolis. They knew they would need help — exactly what the Paycheck Protection Program was meant to provide.
But despite trying three lenders, they never got one of the forgivable COVID-19 loans handed out from April through early August. They had to furlough their four employees and still don’t fully understand what went wrong in a process that felt Byzantine and inequitable to them."
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