Blog, May 2022

Lessons Learned from the Paycheck Protection Program: A Way Forward for an Equitable COVID Recovery

By Katie Furtado
May 25, 2022
The Paycheck Protection Program (PPP) was established in the CARES Act of 2020 to provide emergency relief to small businesses struggling to retain employees at the start of the COVID-19 pandemic. The program was supposed to be an innovative emergency lending program that would not only help small businesses but also ensure public dollars went to the workers most in need of support, but it didn’t live up to its promise. Instead, it was exploited by major corporations like McDonalds and luxury hotels like the Chateau Marmont.