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Who was the aid (PPP) intended for? BUSINNESS

© iStock / Drazen Zigic

The Paycheck Protection Program (PPP) was billed by the U.S. Treasury Department to give small businesses, generally fewer than 500 employees, the opportunity to meet overhead costs, retain staff, and hire those who were fired as a result of the pandemic.

However, data released earlier this month by the US Small Business Administration shows that large PPP loans have been received from district-based companies that have global business interests, pay some of their employees in the six-figure range, and in certain cases other means seem to have been collecting money. (Exact loan amounts were not included in the data. The loan amounts reported by the SBA range up to $ 10 million.)

Learn more about how large DC companies received pandemic aid for small businesses.

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