Apr 21, 2020 — An Associated Press investigation has discovered aid fund Congress created to guard small companies amid the coronavirus disaster has helped firms with 1000’s of staff, previous regulatory run-ins and dangers of monetary failure even earlier than the economic system bought walloped.
The Paycheck Protection Program was supposed to assist small companies, which usually have much less entry to fast money and credit score. Its $349 billion in emergency loans are meant to maintain staff on the job and payments paid on time.
But the AP discovered 75 firms that collectively acquired $300 million have been publicly traded, and a few had market values effectively over $100 million.
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