Report: Only a third of PPP money went to the workers it was intended for

Keeping in line with previously released data that demonstrated that PPP loans overwhelmingly went to big businesses, the new study found that the loans were inefficient in their stated purpose: Keeping workers on the payrolls of small businesses impacted by the pandemic.

“Another paper (consistent with others) showing that Susan Collins’s Paycheck Protection Program was flawed and inefficient,” tweeted James Myall, a policy analyst with the Maine Center for Economic Policy.

Click here to read the full story, first published January 26, 2022 in Beacon.