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PPP Loans Failed to Reach Communities in Most Need


PPP Loans Failed to Reach Communities in Most Need
People walk through a shuttered business district in Brooklyn on May 12, 2020, in New York City.
Spencer Platt / Getty Images
Center for Public Integrity, a nonprofit investigative news organization based in Washington, D.C.
As the pandemic hit, orders cratered at KB and Katie Brown’s print shop in Minneapolis. They knew they would need help exactly what the Paycheck Protection Program was meant to provide.
But despite trying three lenders, they never got one of the forgivable COVID-19 loans handed out from April through early August. They had to furlough their four employees and still don’t fully understand what went wrong in a process that felt Byzantine and inequitable to them. ....

United States , University Of Baltimore , South Carolina , Natchitoches Parish , Logan Lambert , Kenneth White , Anirban Basu , Rosa Daniels , Joseph Gallo , Dana Myers , Gwendy Brown , Manuel Venegas , Katie Brown , Wolfpack Promotionals , Melvinm Coleman , Robert Villarreal , Maryland Black Chamber , University Of California , Credit Union , Us Small Business Administration , Opportunity Fund , Paycheck Protection Program , National Community Reinvestment Coalition , Wells Fargo , Business Administration , Public Integrity ,

PPP loans were supposed to prioritize low-income areas during the pandemic. They didn't. – Center for Public Integrity


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Introduction
As the pandemic hit, orders cratered at KB and Katie Brown’s print shop in Minneapolis. They knew they would need help exactly what the Paycheck Protection Program was meant to provide.
But despite trying three lenders, they never got one of the forgivable COVID-19 loans handed out from April through early August. They had to furlough their four employees and still don’t fully understand what went wrong in a process that felt Byzantine and inequitable to them. ....

United States , University Of Baltimore , South Carolina , Los Angeles International Airport , Natchitoches Parish , Logan Lambert , Kenneth White , Anirban Basu , Rosa Daniels , Joseph Gallo , Dana Myers , Gwendy Brown , Manuel Venegas , Katie Brown , Jaec Hong , Paul Sancya , Wolfpack Promotionals , Melvinm Coleman , Robert Villarreal , Maryland Black Chamber , University Of California , Los Angeles International Airport On Nov , Credit Union , Us Small Business Administration , Paycheck Protection Program , Opportunity Fund ,