Fed report finds 75% of $800 billion Paycheck Protection Program didn't reach employees - The Great Awakening

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Fed report finds 75% of $800 billion Paycheck Protection Program didn't reach employees (justthenews.com)

posted 2 years ago by penisse 2 years ago by penisse +184 / -0

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– TheYellowstone 9 points 2 years ago +9 / -0

As a PPP recipient I can say that for the first round of loans (mine was tiny) you had to spend 60% on payroll for it to be forgiven. The 2nd round you were able to spend all of it on rent/utilities/etc and still have it forgiven.

If they said 100% had to be used for payroll, then the number they quote would be lower.

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